Rail

S.F. MTA approves $1.57B light rail funding plan

Posted on January 20, 2011

On Tuesday, the San Francisco Municipal Transportation Agency (SFMTA) board of directors, which oversees all surface transportation in San Francisco, including the Municipal Railway (Muni), approved the financial plan of the Central Subway, Phase 2 of the SFMTA's Third Street Light Rail Project.

The board’s approval is an advisory step in anticipation of submitting the plan as part of the Federal Transit Administration’s (FTA) New Starts Program in February. The SFMTA is on an active path to achieve a Full Funding Grant Agreement (FFGA) from the FTA by the end of this year.

The funding plan illustrates the SFMTA’s best means for closing the remaining $137 million funding gap. It is comprised of federal, state and local fund sources, including committing state bond proceeds from two transportation funding sources. These state bond funds will be directed to the SFMTA by formula.

To ensure that the funds flow as needed to keep the project moving forward, the SFMTA will continue its ongoing coordination with funding partners: the San Francisco County Transportation Authority, the Metropolitan Transportation Commission, the leadership in Sacramento and the FTA. This collaboration will leverage state and local funds to secure $942.2 million in federal New Starts funding for this project that would otherwise be unavailable to San Francisco for any other project.

The FFGA is the formal action embodying the federal government’s financial commitment to the project, currently projected to be $942.2 million. A key milestone in the application for the FFGA is the submission of an updated financial plan that identifies all funds that will be committed to the $1.578 billion project. The SFMTA must present a funding plan that identifies the sources of funding and the amount of funds available for the Project from each source. The SFMTA must provide this to the FTA by February.

As of spring 2010, the project faced a remaining shortfall of $137 million in local funding that needed to be addressed. SFMTA convened a group of stakeholders (San Francisco County Transportation Authority; Metropolitan Transportation Commission; the San Francisco Mayor’s Office; Board of Supervisors; and the San Francisco Planning + Urban Research Association) to explore funding options. Both the near-term needs of the Central Subway and longer-term capital needs of the Agency were considered as various fund sources were discussed.

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

More News

M-1 Rail opens rail facility for Detroit streetcar

The Penske Tech Center will be the nation’s first vehicle storage and maintenance facility to operate completely off-wire.

Tri-Rail launches train tracking app

The straightforward and user-friendly system superimposes the corridor map on top of a Google map, which shows the precise location of the train.

Alstom to provide additional trainsets for Melbourne rail

The five additional six-car X’Trapolis trainsets will enhance the Melbourne’s Metropolitan Rail Network's capacity.

Honolulu takes delivery of first railcar

The four car train, manufactured by Hitachi Rail Italy, is a key component of the first driverless rail transit system in the U.S.

FRA makes $25M available for rail infrastructure safety upgrades

Applicants can request funds for safety improvements to railroad infrastructure, including railroad crossings, track, tunnels, bridges, yards and other areas.

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