Table 1C - Summary of FY2003 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
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