On Monday, March 12, the Santa Clara Valley Transportation Authority (VTA) will receive a $900 million grant commitment from the Federal Transit Administration (FTA) for the BART Silicon Valley Berryessa Extension Project. A “signing” ceremony is planned at the San Jose City Hall Rotunda at 10 a.m. to commemorate the largest project funding milestone in VTA’s history.
FTA Deputy Administrator Therese W. McMillan will present the $900 million Full Funding Grant Agreement (FFGA), along with the first $100 million allocation. The FFGA is a multi-year contractual agreement that formally defines the project scope, cost and schedule, and establishes the terms of the federal financial assistance. U.S. Congressman Mike Honda, U.S. Congresswoman Zoe Lofgren, along with state and local officials will be present at the milestone event on Monday.
Execution of the FFGA 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.
In November 2000, a package of transit improvements known as Measure A was overwhelmingly approved by a 70.3% majority vote, authorizing a 30-year, 1/2 cent sales tax to construct the largest infrastructure project in Silicon Valley. Eight years later, county residents passed a 1/8 cent sales tax to fund the operating and maintenance costs of the BART Extension. The two local revenue streams were critical in garnering the state and federal financial assistance to finalize the BART Silicon Valley Berryessa Extension Project funding package.
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.