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SEARCHGroup 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.
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.
Operation Lifesaver awarded $220,200 in grants to 12 states to support rail safety campaigns focused on grade crossing awareness and trespass prevention.
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While recognizing regional economic constraints and continuing to improve service, the budget increases the jurisdictional subsidy to less than 1.8%, significantly below the inflation rate and the 3% regional target, said agency officials.
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The plan outlines funding for transit operations, capital projects, and freight and passenger rail initiatives, as state officials seek public input on priorities shaping mobility and infrastructure across the Commonwealth.
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