FTA Deputy Administrator Therese W. McMillan will present the $900 million Full Funding Grant Agreement, along with the first $100 million allocation.
Senior Member of the House Appropriations Committee and a former Member of the House Transportation Committee, Silicon Valley Congressman Mike Honda expressed that the federal funding commitment has been a long time in coming for his constituency and the region.
"A decade ago, I promised my constituents that I would not rest until this important project receives the federal funds that it deserves and this grant agreement is a testament to the fortitude of our Silicon Valley communities and our local leaders," said Honda. "This is a big win for our region."
Execution of the Full Funding Grant Agreement is the final step before construction on the 10-mile, two station BART extension can begin. A project groundbreaking is planned for April 12, 2012.
Since 2002, the FTA has worked closely with VTA to design a project that would meet the stringent criteria of the FTA New Starts funding program. In 2011, the Berryessa Extension Project achieved several significant milestones, which included advancing into the Final Design phase of New Starts, receiving a funding recommendation in the FY2012 President's Budget and submitting final documentation for the $900 million federal funding grant. Monday, March 12 will celebrate the culmination of these milestones and receipt of the first $100 million allocation.
The cost of the project is approximately $2.3 billion, which includes $900 million in federal assistance, $251 million in state funding and $1.179 billion from Measure A sales tax.