In addition to the money received through the high-speed rail program, Caltrain also will receive more than $100 million in connectivity funding through Proposition 1A. Additional funds for the project will come from a combination of local, regional and federal sources.

A modern Caltrain system is expected to provide more service, carry more riders, get more cars off the roads, reduce the operating subsidy and reduce pollution.

"There is a generational responsibility to leave behind a world that is better than the one we found. This speaks to that responsibility," said Caltrain Executive Director Mike Scanlon.

The "blended system" will allow Caltrain and high-speed rail to operate primarily on Caltrain's existing tracks, minimizing the impacts on the communities through which it passes.

With the additional funding for the $1.5 billion project, electric train service could be operating on the Caltrain corridor as soon as 2019.