Table 1-C: Summary of FY2004 New Starts Ratings

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Table 1-C: Summary of FY2004 New Starts Ratings


Phase and City (Project) Financial Rating Finance Rating Criteria
Section 5309 Funds as Share of Capital Costs Capital Finance Rating Operating Finance Rating
Final Design
Baltimore, MARC Penn-Camden Connection (2) Exempt 40% Exempt Exempt
Chicago, Ravenswood Expansion Project (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
Preliminary Engineering
Boston, Silver Line Phase III (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) Low-Medium 50% Low-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 I 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.
(6) The project sponsor did not submit information for this measure.
(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.
(9) Projects not submitting transportation system user benefit information have been rated "Not Yet Available" for the project justification, mobility and overall rating.