Last year San Francisco’s Transbay Joint Powers Authority rolled the dice by modifying construction plans for San Francisco’s Transbay Transit Center.
The modified plan to pre-build the train station component of the center will save an estimated $100 million in construction costs but banks on $400 million in federal stimulus funds, without which the move will likely end up burning $15 million worth of engineering and design and delay the project by at least four months.
Tomorrow morning President Obama will formally announce $8 billion in stimulus funds to 13 U.S. rail corridors ($50 billion was requested). But according to a White House pre-release, California’s high-speed train project is getting $2.25 billion of that eight.
Exactly how that $2.25 billion will be divvied up between California’s four corridors still needs to be determined. Will San Francisco’s $15 million bet payoff or crap out?
Stay tuned (and plugged-in).
UPDATE: And it’s lucky number seven (or rather four hundred) for the TJPA and San Francisco:
Department spokeswoman Maureen Knightly said the $2.25 billion includes a reservation of $400 million for construction of an underground train station at the Transbay Transit Center.
∙ Transbay Terminal: Banking On Stimulus Funds And Opening In 2015 [SocketSite]
∙ Obama to Give 13 Areas $8 Billion for High-Speed Rail [Bloomberg]]
∙ Scoop: Transbay Interactive Map (And New Transit Center Website) [SocketSite]
∙ High-speed train project gets $2.25 billion from Obama [mercurynews.com]
∙ $400M to go toward Transbay Transit Center train station [San Francisco Examiner]