Attaining two significant milestones by VTA for BART Phase II Project, which is the first transit agency in the state to present an application with value of EUR1.43 bn (USD1.74 bn) through the Federal Transit Administration’s (FTA) Expedited Project Delivery Pilot Program (EPD). Moreover, a EUR82.17 million (USD100 million) budget for VTA has been awarded from the program, announced by the FTA.
The EUR1.43 bn (USD1.74 bn) federal budgets will complete the funding plan to build BART Phase II. Enhancing innovation, bettering efficiency, on time project delivery and encouraging new income streams, are the purposes of recently appointed EPD program. The amount of second budget which was determined by FTA program is EUR82.17 million (USD100 million) while EUR102.66 million (USD125 million) was received in August 2019 as a part of EUR184.80 million (USD225 million) total budget.
These two main milestones for the BART Phase II Project confirm the considerable merits of the project involving increased mobility, job creation and access, economic progress and improvement and congestion reduction.
Reducing the funding procedure by more than 14 months and finally simplifying project delivery, are the impacts of the FTA’s EPD funding program on VTA’s capabilities. In this program it is essential that projects employ public-private partnerships, which are designed to be operated and maintained by employees of an available public transportation provider, and federal’s portion is not exceeding 25% of the project expense.
For further information, please visit here