The San Francisco Municipal Transportation Agency received $20 million in federal funds for Phase II of the Third Street Light-Rail Project, the Central Subway. In addition to these funds, the SFMTA will send to the Federal Transit Administration the final submittal for the New Starts Full Funding Grant Agreement by September 19.
"The momentum continues to build for San Francisco's Central SubwayPproject because it will expand transit options in the heart of the city," said Jerry Lee, vice chairman of the SFMTA Board of Directors. "The city's transportation infrastructure serves as the lifeblood of our expanding industries as well as our vibrant neighborhoods and the residents, visitors and employees that support them."
"The San Francisco Chamber of Commerce continues to support the Central Subway Project for the simple reason that it will improve San Francisco's economic growth," said Jim Lazarus, San Francisco Chamber of Commerce senior vice president of public policy. "Economic growth does not happen by accident. A great workforce and the right policies bring businesses to the City; well-planned infrastructure makes it possible for them to thrive here."
The project will serve as an engine for economic growth and recovery in San Francisco, creating thousands of job opportunities as the project moves into the construction phase.
During these difficult economic times, the progress and development of the Central Subway will employ thousands of individuals throughout the Bay Area and beyond. Furthermore, the improved service will decrease transit travel times, relieve congestion, enhance the environment and stimulate economic activity along the corridor.
The project has consistently received positive reviews as part of the FTA's New Starts program. The new infusion of $20 million from the program means that Central Subway has received $92.4 million in New Starts funds to date. The total project cost (with contingency) is expected to be $1.57 billion, with the federal government contributing close to $1 billion.
The SFMTA continues to work closely with its funding partners: the San Francisco County Transportation Authority, the Metropolitan Transportation Commission, the leadership in Sacramento and the FTA. This collaboration has leveraged state and local funds to secure $942.2 million in federal New Starts funding for this project that would otherwise be unavailable to San Francisco for any other project.