Conclusion

The $794.06 million available for FY 1997 is sufficient to honor all New Starts projects that have existing Federal funding commitments, as well as additional projects for which Federal commitments are expected during calendar year 1996. Specifically, we intend to provide funding to projects with existing commitments as follows:

• Provide $66.82 million (and $156.83 million in future funds) to the North Line Extension project in Atlanta, in accordance with the December 20, 1994 FFGA for this project;
  
• Provide $10.26 million to fulfill the November 1, 1994 FFGA for the light rail extensions in Baltimore;
  
• Provide $53.72 million (and $164.60 million in future funds) to the South Boston Piers project, under the FFGA issued for this project on November 5, 1994;
  
• Provide $8.00 million (and $112.00 million in future funds) to the Southwest Corridor project in Denver, under the May 9, 1996 FFGA;
  
• Provide $40.59 million (and $172.39 million in future funds) to the Houston/Regional Bus plan, according to the FFGA issued on December 30, 1994;
  
• Provide $158.86 million (and $816.92 million in future funds) to the Los Angeles/MOS­3 project, including the initial segment of the East Central extension, in accordance with the FFGA as amended on December 28, 1994;
  
• Provide $50.00 million (and $31.48 million in future funds) to the MARC extension project to Frederick, Maryland, in accordance with the June 19, 1995 FFGA;
  
• Provide $105.53 million (and $26.26 million in future funds) to the Secaucus Transfer element of the Urban Core program of projects in New Jersey, in accordance with the December 6, 1994 FFGA for this project;
  
• Provide $35.02 million to complete the Queens Local/Express Connection in New York City and fulfill the February 10, 1994 FFGA for this project;
  
• Provide $121.19 million (and $75.63 million in future funds) to the Westside light rail extension to Hillsboro in Portland, in accordance with the December 21, 1994 FFGA for this project;
  
• Provide $35.00 million (and $170.36 million in future funds) to the South LRT extension in Salt Lake City in accordance with the August 2, 1995 FFGA;
  
• Provide $10.00 million (and $80.00 million in future funds) to the Tasman LRT project in the San Francisco Bay Area, under the existing Letter of Intent (LOI); and
  
• Provide $10.00 million (and $290.00 million in future funds) to the San Juan Tren Urbano project, under the FFGA issued on March 13, 1996.

In addition, we intend to fund the following four projects which are expected to have Federal funding commitments in place during calendar year 1996, as follows (future funds are estimated until negotiations are complete):

• Provide $10.00 million (and $505.00 million in future funds) to the Hudson­Bergen light rail element of the Urban Core program of projects in northern New Jersey;
  
• Provide $8.00 million (and $92.00 million in future funds) to the Sacramento light rail extension;
  
• Provide $51.07 million (and $633.55 million in future funds) to the extension of the BART system to San Francisco International Airport; and
  
• Provide $20.00 million (and $216.00 million in future funds) to the St. Clair extension of the St. Louis light rail system.