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The bill would give local officials new authority to seek tax hikes or federal grants to finance developments and explore the use of self-driving cars.
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The budget that was approved unanimously by the Fiscal and Management Control Board directs T officials to find $1 million in savings from The Ride, $5 million from the commuter rail, and $8 million from bus maintenance.
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The state’s finance committee chair says the bill would generate $792 million, while also reducing the state’s administrative fee from 10% to 1%, which would create another $397 million, bringing the total of the bill to $1.2 billion in funding.
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Supporters say the “farebox recovery ratio” mandate, in place since at least the 1990s, discouraged the state from investing in transit systems to make them more appealing and, in turn, increase revenues.
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The federal government will be working to sign bilateral agreements with provinces in the coming months regarding PTIF II ($20.1 billion). Provincial allocations will be based 70% on provincial ridership levels and 30% on provincial population.
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Even though cities spanning the proposed 14-mile Southwest Corridor light rail line have signed off, the legislators opposing the project say there are too many legal and financial uncertainties, as well as ridership questions for it to move forward.
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Three years ago, CATS started the process to lengthen the old stations so they could handle longer trains. The city spent roughly $17 million lengthening four stations, leaving 11 more stations to be lengthened a few at a time.
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The 6.6-mile Woodward loop includes 20 stops, with end-to-end rides predicted to take 22 to 25 minutes as the streetcars moving at the speed of vehicle traffic.
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The FTA told GoTriangle in a recent email that the two counties involved must be committed to paying at least 30% of the project’s local cost, or $371.1 million, before the project can be approved for engineering work.
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Gov. Jerry Brown's finance department approved the California High-Speed Rail Authority’s request to spend $2.6 billion on track work in the Central Valley on Friday.
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