Rail

CHSRA to receive balance of FY funding

Posted on April 7, 2009

California High-Speed Rail Authority (CHSRA) officials confirmed that the balance of its funding for the 2008-09 fiscal year has been made available by the State Treasurer’s Office.

The state’s High-Speed Rail Finance Committee approved the CHSRA’s $29.1 million bond loan request in January, but processing was stalled due to the state’s Pooled Money Investment Board’s decision to freeze disbursements for this and other projects until the successful sale of General Obligation bonds.

“Today’s confirmation that funding for the project will continue as planned is good news for California’s taxpayers who approved Proposition 1A last November to help fund the construction of the high-speed train project and who rightfully expect that progress will be swift and uninterrupted,” said Mehdi Morshed, executive director of the CHSRA.

The CHSRA is responsible for building high-speed train service covering 800 miles at speeds up to 220 MPH. Building the high-speed train system will cost less than half the cost of freeway and aviation alternatives. Operating the system will create an annual surplus of more than $1 billion, according to the CHSRA.

View comments or post a comment on this story. (0 Comments)

More News

CRRC announces ship date for MBTA pilot cars

The company is the first Chinese railcar builder to enter into the U.S. rail car manufacturing market.

STV, WSP USA to support L.A. Metro rail vehicle acquisition

Acquisition of new heavy rail vehicles and associated equipment that will play a key part in Metro’s systemwide rail expansion over the next decade.

Stadler breaks ground on railcar manufacturing plant in Salt Lake City

Its 62-acre property boasts 75,000 square feet of production space for the bogie, main, pre- and final assembly of single- and bi-level trains.

Stadler, Fort Worth Transportation Authority unveil 1st U.S. FLIRT train

The new commuter trains for TEXRail have been designed to reach maximum speeds of 81 mph and boast a coupled length of 266 feet each.

Design-build taking transit into the future

Design-build minimizes risk, reduces delivery time, keeps budgets in line, and mitigates funding partner concerns throughout project duration. With traditional design-bid-build, owners, designers, and contractors are segregated from design concept to final construction.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close