On May 5, 2016, the Caltrain Board of Directors adopted an agreement that invests an additional $211 million in the Caltrain Modernization Program. The seven-party agreement increases funding commitments from Caltrain’s state and local partners, and brings the total non-federal share of the project to $1 billion.
The need for additional local / state funding was identified in 2014 when the project’s budget was updated from 2008 cost estimates, and funding partners agreed to increase the amount budgeted for project contingency.
The Peninsula Corridor Electrification Project will equip the rail corridor with electrification infrastructure and replace most of the system’s diesel trains with high-performance electric vehicles.These improvements will help address rapidly growing ridership by providing more service to more riders at more stations and will significantly decrease vehicle-miles travelled and greenhouse gas emissions along the Peninsula corridor.
The Project has widespread support from a growing coalition of federal, state, regional and local stakeholders committed to improving public transportation and addressing congestion between San Francisco and San Jose.
Caltrain executed contracts in September 2016 and plans to introduce electrified service in 2020. In February 2016, the Obama Administration allocated $72 million in prior year funding to the project and asked Congress for an additional $125 million in the 2017 Federal Budget through the FTA Core Capacity Grant Program. These funds are part of a larger $647 million request for a Federal full funding grant agreement that is expected to be finalized in 2017. Contracts for the Electrification project will be structured so that full authorization to proceed with construction is issued following the approval of Caltrain’s federal grant agreement funding request.
A copy of the cost and funding sources for the project can be viewed here.
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