Table 1C - Summary of FY2003 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

       

Alaska Marine Highway System

Exempt

 

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 Transportation 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)**

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)

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-Beaverton Commuter Rail)*

Exempt

30%

Exempt

Exempt

Washington, DC (Dulles Corridor Bus 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