"Even so, California High Speed Rail Authority CEO Ian Choudri called it a historic commitment of the largest guaranteed infusion of funding for California's high-speed rail program to date. This funding agreement resolves all identified funding gaps for the Early Operating Segment in the Central Valley and opens the door for meaningful public-private engagement with the program, Choudri said in a statement."
"The rail authority plans to borrow against the future funding guarantee to finance the rest of construction on the route between Merced and Bakersfield, which is set to be completed by 2033. Since 2019, the rail authority has been focused on building out that stretch alone, which is now estimated to cost a total of $37 billion. That's higher than the $33 billion price tag for the completed San Francisco-Los Angeles line that voters signed off on when they approved the initial $9 billion bond"
Gov. Gavin Newsom and California legislative leaders agreed to fund the state's high-speed rail with $1 billion per year for 20 years. The funding would complete the initial 171-mile Central Valley segment but would not extend to major population centers or complete the San Francisco–Los Angeles line. The rail authority plans to borrow against the guaranteed future funding to finish construction between Merced and Bakersfield, targeting completion by 2033. The Central Valley segment is now estimated to cost $37 billion, exceeding the $33 billion price previously estimated for the full SF–LA line, leaving the overall project timeline and completion uncertain.
Read at www.mercurynews.com
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