The Federal Transit Administration (FTA) has made a commitment to grant more than $5 billion to the final phase of the Santa Clara Valley Transportation Authority’s (VTA) Silicon Valley Bay Area Rapid Transit (BART) Extension Project.
"This is very big news, not just for [Santa Clara] VTA, not just for the project, but for the entire community, the entire valley, the entire Bay Area region," said Carolyn Gonot, Santa Clara VTA general manager/CEO.
Gonot described the letter the FTA sent as notification of the funding commitment during a press conference on Aug. 2.
"It talked about their belief that VTA has the ability to deliver this $12.7 billion project. Not every agency gets that letter," Gonot said.
"It's the people of Sant Clara County who got us to this point and enabled us to go secure this historic federal match because time and time again when our community leaders went out there and asked our community, are you willing to tax yourselves, sacrifice for future generations for our economic growth and prosperity and opportunity for all, our community said yes over and over and over again,” said City of San Jose, Calif., Mayor and Santa Clara VTA Board Member Matt Mahan.
Santa Clara VTA notes the BART Silicon Valley Extension still must fill a gap in funding, which staff will begin immediate work to identify. For a 60-day period, Santa Clara VTA will freeze new spending and the agency plans to renegotiate existing contracts to help cover the shortfall.
"It was critical for us to get the federal government's commitment because now we know what we have to solve for. San Jose is going to get $5 billion. That's great news,” said Tom Maguire, Santa Clara VTA's chief megaprojects officer.
Santa Clara VTA must now work to fill the funding gap before applying for the Full Funding Grant Agreement with the FTA.
