Table 1C - Summary of FY2003 New Starts Ratings

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Phase and City (Project) Financial Rating Financial Rating Criteria
Section 5309 Funds as Share of Capital Costs Capital Finance Rating Operating Finance Rating
Final Design
Alaska Marine Highway System Exempt N/A Exempt Exempt
Alaska Railroad (South Anchorage Double Track) Exempt 22% Exempt Exempt
Alaska Railroad (Knik River to Wasilla Track Improvements) Exempt 80% Exempt Exempt
Galveston, TX (Rail Trolley Extension) *** Exempt 80% Exempt Exempt
Little Rock (River Rail Project) * Exempt 57% Exempt Exempt
Los Angeles-San Diego (LOSSAN Rail Corridor Improvements) * Exempt 68% Exempt Exempt
Nashville (East Corridor Commuter Rail) * Exempt 69% Exempt Exempt
Pawtucket, RI (Commuter Rail Improvement Program) Exempt 54% Exempt Exempt
Salt Lake City (Medical Center Extension LRT) Medium-High 60% Medium-High Medium
San Francisco (Third Street Light Rail, Phase I) Exempt 0% Exempt Exempt
Seattle (Central Link Initial Segment) Medium %22 Medium Medium
Preliminary Engineering
Austin (Rapid Transit Project MOS) Not Rated 50% Not Rated Not Rated
Bridgeport, CT (Intermodal Transportation Center) Exempt 40% Exempt Exempt
Charlotte (South Corridor LRT) Medium-High 50% Medium-High Medium-High
Chicago (Ravenswood Line Expansion) Medium 52% Medium High
Cincinnati (Interstate 71 Corridor LRT) Low-Medium 50% Low-Medium Medium
Cleveland (Euclid Corridor Improvement Project) Medium-High 59% Medium-High Medium
Columbus (North Corridor LRT) Medium 50% Medium Medium
Dallas (Northwest/Southeast Light Rail MOS) Medium 40% Medium-High Medium
Denver (West Corridor LRT) Medium-High 59% Medium-High Medium
Fort Collins, CO (Mason Street Transportation Corridor) Medium 79% Medium Medium
Hartford (New Britain-Hartford Busway) Medium 50% Medium Medium-High
Honolulu (Primary Transportation Corridor Project) Medium 34% Medium Medium-High
Kansas City, Johnson County (I-35 Commuter Rail) * Exempt 80% Exempt Exempt
Las Vegas (Resort Corridor Fixed Guideway) Medium 30% Medium Medium-High
Los Angeles (Eastside Corridor LRT) Medium 60% Medium-High Medium
Los Angeles (Mid-City/Exposition LRT) Medium 47% Medium Medium
Los Angeles (San Fernando Valley East-West Transit Corridor) Medium-High 0% High Medium
Louisville (South Central Corridor LRT) Medium 57% Medium Medium
Lowell, MA-Nashua, NH (Lowell-Nashua Commuter Rail Extension) * Exempt 44% Exempt Exempt
Maryland (MARC Commuter Rail Improvements Projects) ** Exempt 42% Exempt Exempt
Miami (North 27th Avenue) Low 70% Low Low-Medium
Minneapolis (Northstar Corridor Commuter Rail) Medium 50% Medium Medium
New Orleans (Desire Corridor Streetcar) Medium 60% Medium Medium
New York (Long Island Rail Road East Side Access Project) Medium 50% Medium Medium-High
New York (Second Avenue Subway) Medium 50% Medium Medium-High
Orange County (Centerline LRT Project) Medium-High 50% Medium-High Medium
Philadelphia (Schuylkill Valley MetroRail) Medium 80% Medium Medium
Phoenix (Central Phoenix/East Valley Corridor) ** Medium-High 50% Medium-High Medium
Pittsburgh (North Shore Connector LRT) Medium 70% Medium Medium
Raleigh (Phase I Regional Rail Project) Medium 50% Medium Medium
San Diego (Mid Coast Corridor) Medium-High 50% Medium-High Medium-High
San Juan (Tren Urbano Minillas Extension) Low-Medium 80% Low-Medium Not Rated
Seattle (Everett to Seattle Commuter Rail) * Exempt 24% Exempt Exempt
Seattle (Link Extension and North Link) ** Not Rated N/A Not Rated Not Rated
Seattle-Tacoma (Lakewood-to-Tacoma Commuter Rail) * Exempt 29% Exempt Exempt
Stamford (Urban Transitway and Intermodal Transportation Center) Exempt 75% Exempt Exempt
Tampa (Tampa Bay Regional Rail System) Low-Medium 50% Low-Medium Medium
Washington County (Wilsonville to Beaverton Commuter Rail) * Exempt 30% Exempt Exempt
Washington DC (Dulles Corridor Rapid Transit) Medium 60% Medium Medium

* This project has not been rated; under §5309(e)(8)(A), proposed new starts projects requiring less than $25.00 million in §5309 new starts funding are exempt from the project evaluation and rating process required by §5309(e).

** "Not Rated" indicates that sufficient information for a complete evaluation of this project was not available for this Report; for information on a specific project, see Appendix A.

*** The Galveston Trolley plans to use funding from toll revenue credits to bring the local share to 20 percent.

"N/A" = Not Available