The US Department of Transportation’s (USDOT) Federal Transit Administration (FTA) has issued a letter of intent (LOI) to grant funds to Santa Clara Valley Transportation Authority (VTA) for the Bay Area Rapid Transit (BART) Silicon Valley Phase II project.
The LOI has highlighted various requirements that must be fulfilled by VTA within the next two years to enable the project to be eligible for a Full Funding Grant Agreement (FFGA).
The project is being executed under the Expedited Project Delivery (EPD) Pilot Programme project.
The maximum federal share for the project has been set at $2.287bn, or 25% of the final project expense, whichever is lower. The combined cost of the final project is estimated to be around $9.14bn.
Under the project, a 9.65km extension of the BART system from the Berryessa Transit Centre into downtown San Jose and the City of Santa Clara will be constructed.
The FTA said in a statement: “Prior to the project’s consideration for an FFGA, the VTA must secure and document the commitment of all non-Federal funding for the project and submit revised financial information as per the requirements in the Notice of Funding Opportunity, based on the revised cost and revised revenue service date.”
Additionally, VTA will be required to give updated information in connection with BART’s system-wide operations and maintenance outlays, along with funding sources, if the project will be operated and maintained by BART.
By law, the FTA must assess proposed EPD Pilot Programme projects against several criteria, ensuring that the prospective grant recipient holds the technical, legal, and financial competence to carry out the project.
The FTA will continue to work in collaboration with VTA to further advance the project toward an FFGA under the EPD Pilot Programme.
Last month, a construction grant award of $99.9m from the FTA was announced for the Tri-County Metropolitan Transportation District of Oregon (TriMet).