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The Peninsula Corridor Joint Powers Board, which operates Caltrain, may be asked at its meeting on Thursday to schedule two public hearings — one on the transit agency's potential service cuts due to its budget crisis and another to declare a fiscal emergency.

Two recent summits, one organized by the Silicon Valley Leadership group and another by a grassroots organization, explored solutions to Caltrain’s budget problems, according to a prepared statement from Caltrain.

More than 200 business leaders gathered Jan. 21 at Stanford University for a "Save Caltrain Summit" to identify possible funding solutions. SamTrans, one of Caltrain's three partner agencies, is expected to reduce its annual contribution to Caltrain by $10 million. If the agency's other two partners follow suit, Caltrain will face a $30 million budget shortfall.

Four community meetings have been organized to provide the public with more information: Feb. 16 in San Francisco and Feb. 17 in Gilroy, San Jose and San Carlos, Calif.