Funding needs of the mega-project are now 35% higher than the last estimate of $6.9 billion and nearly double the estimate in 2014.
After months of downplaying a ballooning federal cost estimate, the Santa Clara Valley Transportation Authority is now acknowledging their long-delayed project to bring BART trains running through San Jose could cost a staggering $9.3 billion.
The funding request, outlined in a VTA letter to the Federal Transit Administration last month, would move the BART project into a funding program called New Starts, which would significantly increase Washington’s share of project costs. Currently, the FTA has agreed to fund up to $2.3 billion of project costs.
“We just marked it up,” said Gonot, referring to the $9.3 billion in total funding that is now required. “I hate to say that – we’re trying to be as conservative as possible as we go out there.”
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