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The proposed new starts funding level of $1,136.40 million is based on the guaranteed funding level authorized by TEA-21 for FY 2002, and is sufficient to meet the funding needs of 31 new starts projects. After setting aside one percent of these funds for oversight activities as specified in the Administration’s FY 2002 budget proposal, and funding for ferry capital projects in Alaska or Hawaii as required by §5309(m)(5)(A), $1,114.74 million is available for project grants.
Twenty-six projects have existing FFGAs that commit FTA to provide specified levels of major capital investment funding. Two of these projects are not included in the funding recommendations: the Hudson-Bergen MOS-2 project in Northern New Jersey, because the FFGA does not commit funding before FY 2003; and the Central Link light rail project in Seattle, because the FFGA is under review. The remaining 24 projects will require a total of $993.51 million in FY 2002. All of these projects have been authorized by TEA-21, and all were either under an FFGA prior to TEA-21 or have been rated as “recommended” or higher at the time the FFGA was issued.
New funding commitments are pending for two additional new starts projects. In anticipation of these commitments, FTA recommends that a total of $37.23 million be allocated among these projects in FY 2002. These projects have all been rated as “recommended” or “highly recommended” under the criteria and processes specified by TEA-21. The funding recommendations are based on the anticipated funding needs of each project in FY 2002.
In addition to the funding recommendations for the existing and pending Federal commitments discussed above, five proposed projects are expected to be ready for commitments before the end of FY 2002 (i.e., September 30, 2002). In anticipation of these new commitments, FTA recommends that a total of $84.00 million be allocated among these projects in FY 2002. These projects have all been rated as “recommended” or “highly recommended” under the criteria and processes specified by TEA-21, or are exempt from the rating process under §5309(e)(8)(A). All of these projects have been authorized by TEA-21. The funding recommendations are based on the anticipated funding needs of each project in FY 2002.
The amounts specified for each project in this report, plus $10.30 million for ferry capital projects as specified by §5309(m)(5)(A), and $11.36 million for FTA oversight activities as provided under §5327(c), equal the total FY 2002 funding request of $1,136.40 million for the §5309 new starts program, which is the guaranteed amount of funding authorized by TEA-21.
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