Table 1-C: Summary of FY2004 New Starts Ratings
Table 1-C: Summary of FY2004 New Starts Ratings
|Phase and City (Project)||Financial Rating||Financial Rating Criteria|
|Section 5309 Funds as Share of Capital Costs||Capital Finance Rating||Operating Finance Rating|
|Baltimore, MARC Penn-Camden Connection (2)||Exempt||N/A||Exempt||Exempt|
|Chicago, Ravenswood Line Expansion (3)||Medium||46%||Medium||Medium-High|
|Cleveland, Euclid Corridor Transportation Project||Medium||50%||Medium||Medium|
|Galveston, Rail Trolley Extension (2)||Exempt||88%||Exempt||Exempt|
|Girdwood, Alaska Railroad - South Anchorage Double Track (2)||Exempt||80%||Exempt||Exempt|
|Girdwood, Alaska Railroad - Eagle River to Knik River Track Improvements (2)||Exempt||80%||Exempt||Exempt|
|Girdwood, Alaska Railroad - Knik River to Wasilla Track Improvements (2)||Exempt||80%||Exempt||Exempt|
|Little Rock, River Rail Project (2)||Exempt||57%||Exempt||Exempt|
|Los Angeles, LOSSAN Rail Corridor Improvements (2)||Exempt||37%||Exempt||Exempt|
|Nashville, East Corridor Commuter Rail (2)||Exempt||61%||Exempt||Exempt|
|New York, Long Island Rail Road East Side Access||Medium||50%||Medium-High||Medium|
|Pawtucket, Commuter Rail Improvement Program (2)||Exempt||54%||Exempt||Exempt|
|Prince William, Alaska Marine Highway System (2)||Exempt||65%||Exempt||Exempt|
|Seattle, Central Link Initial Segment||Medium-High||20%||Medium-High||Medium-High|
|Boston, Silver Line Phase 3 (4)||Medium||60%||Medium||Medium|
|Bridgeport, Intermodal Transportation Center (2)||Exempt||40%||Exempt||Exempt|
|Burlington, Burlington-Essex Commuter Rail Project (2)||Exempt||77%||Exempt||Exempt|
|Charlotte, South Corridor LRT||Medium-High||50%||Medium-High||Medium-High|
|Cincinnati, Interstate 71 Corridor LR||Low-Medium||50%||Medium||Medium|
|Columbus, North Corridor LRT||Medium||50%||Medium||Medium|
|Dallas, Northwest/Southeast Light Rail MOS||Medium||40%||Medium-High||Medium|
|Denver, West Corridor LRT (4)||Medium||60%||Medium||Medium|
|Fort Collins, Mason Street Transportation Corridor (4, 5, 6)||Low||79%||Medium||Not Submitted|
|Harrisburg, CORRIDORone Rail MOS (2)||Exempt||33%||Exempt||Exempt|
|Hartford, New Britain - Hartford Busway (7)||Medium||50%||Medium||Medium|
|Honolulu, Primary Corridor Transportation Project||Medium||33%||Medium||Medium|
|Johnson County, I-35 Commuter Rail (2)||Exempt||80%||Exempt||Exempt|
|Las Vegas, Resort Corridor Fixed Guideway||Medium||49%||Medium||Medium|
|Los Angeles, Mid-City/Exposition LRT (7)||Medium||50%||Medium||Medium|
|Lowell, MA-Nashua, NH, Commuter Rail Extension (2)||Exempt||44%||Exempt||Exempt|
|Miami, North Corridor Metrorail Extension||Low-Medium||50%||Low-Medium||Low-Medium|
|Minneapolis, Northstar Corridor Rail Project (8)||Medium||50%||Medium||Medium|
|New Orleans, Desire Corridor Streetcar (4)||Medium||60%||Medium||Medium|
|New York, Second Avenue Subway||Medium||50%||Medium||Medium|
|Norfolk, Norfolk LRT||Medium||50%||Medium||Medium|
|Orange County, Centerline LRT Project (7)||Medium-High||50%||Medium-High||Medium-High|
|Philadelphia, Schuylkill Valley MetroRail (4, 5)||Low||80%||Low-Medium||Medium|
|Phoenix, Central Phoenix/East Valley Corridor||Medium-High||50%||Medium-High||Medium-High|
|Pittsburgh, North Shore Connector LRT (4)||Low-Medium||60%||Low-Medium||Low-Medium|
|Raleigh, Phase 1 Regional Rail Project (4)||Medium||54%||Medium-High||Medium|
|San Diego, Mid-Coast Corridor (7)||Medium-High||49%||Medium-High||Medium-High|
|San Francisco, New Central Subway Project (4, 5, 9)||Low||70%||Medium||Medium|
|San Juan, Tren Urbano Minillas Extension (4, 5, 6)||Low||80%||Low-Medium||Low-Medium|
|Santa Clara County, Silicon Valley Rapid Transit Corridor (9)||Medium||20%||Medium||Medium|
|Seattle, Everett-to-Seattle Commuter Rail (2)||Exempt||24%||Exempt||Exempt|
|Seattle, Lakewood-to-Tacoma (2)||Exempt||29%||Exempt||Exempt|
|Silver Spring, Silver Spring Intermodal Transit Center (2)||Exempt||48%||Exempt||Exempt|
|Stamford, Urban Transitway and Intermodal Transportation Center Improvements (2)||Exempt||75%||Exempt||Exempt|
|Tampa Bay, Tampa Bay Regional Rail (9)||Low-Medium||50%||Low-Medium||Low-Medium|
|Washington, Dulles Corridor Bus Rapid Transit (4, 5)||Medium||60%||Medium||Medium|
|Washington, MARC Mid-Day Storage Facility (2)||Exempt||37%||Exempt||Exempt|
|Washington County, Wilsonville to Beaverton Commuter Rail Project (4, 5, 9)||Medium||60%||Medium||Medium|
"N/A" = Not Available, "J" represents the Project Justification Rating, "O" represents the Operating Finance Rating, "C" represents the Capital Finance Rating.
(1) The following projects did not submit New Starts criteria for the FY 2004 Annual Report on New Starts: Austin Rapid Transit Project MOS, Louisville Transportation Tomorrow South Central Corridor LRT, Seattle Airport Link and the Seattle North Link. Thus, these projects are not shown on the table.
(2) 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.
(3) FTA and the project sponsor were unable to successfully implement the software necessary to calculate the user benefit information for this project. However, FTA and the project sponsor have calculated an estimate of user benefits, which we believe to be reasonable and which would result in a "Recommended" rating for the project. FTA will continue to work with the project sponsor to implement the software and confirm this estimate.
(4) The Administration is seeking legislation that would limit the Federal New Starts share to no more than 50 percent beginning in FY2004. Future ratings of these projects would be affected by that change.
(5) The Conference Report accompanying the FY 2002 Department of Transportation Appropriations Act instructs that, as of October 1, 2002, no new Full Funding Grant Agreements may be executed with a Federal New Starts share greater than 60 percent. Accordingly, in the future, project financial ratings will reflect this Congressional instruction at all stages of project development.
(7) This project was "Not Rated" for project justification, mobility, cost-effectiveness and the overall rating because FTA has serious concerns about the information submitted for these measures; the underlying assumptions used by the project sponsor may have produced an inaccurate representation of the benefits of the project. FTA continues to work with this project sponsor to validate the assumptions, information, and projections. This information will be made available to Congress and other interested parties when the issues are resolved.
(8) This project was "Not Rated" for project justification, mobility, and cost-effectiveness because FTA has serious concerns about the information submitted for these measures; the underlying assumptions used by the project sponsor may have produced an inaccurate representation of the benefits of the project. FTA continues to work with this project sponsor to validate the assumptions, information, and projections. This information will be made available to Congress and other interested parties when the issues are resolved.