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

FRA invests $21.2M in PTC, grade crossing safety, passenger rail

Grants awarded are part of a Notice of Funding Availability it issued in July 2014 to distribute new FY14 Omnibus funding as well as unobligated funds from the High-Speed Intercity Passenger Rail Program.

Metra adopting 'confidential close call reporting system'

According to the FRA, which has promoted the adoption of the system by a handful of railroads so far, the system complements existing safety programs, builds a positive safety culture, creates an early warning system, focuses on problems instead of people, provides an incentive for learning from errors and targets the root cause of an issue, not the symptom.

Cost of 3-week Cincinatti streetcar delay could total $2M

Additionally, the Southwest Ohio Regional Transit Authority has reduced its estimates by $569,000 for both streetcar fare revenue and what it believes it can capture from those who want to advertise on the vehicles.

The case for driverless trains by the numbers

Some of the benefits discussed by a CityLab report, include a 70% savings in staff, higher frequencies, significant operational savings and more room for passengers.

State lawmakers urge Metro Transit to step up fare enforcement

While an audit found that one of every 10 light rail passengers may not be paying fares, Metro Transit reports 94% compliance on its Green Line and 97% compliance on its Blue Line. Moving away from an honor system and installing turnstiles could cost the agency $107 million, according to the report.

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 resource for managers of class 1-7 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