With Little Hope for Near-Term Federal Support, California High-Speed Rail Struggles

[marmar]

from the Transport Politic blog:



With Little Hope for Near-Term Federal Support, California High-Speed Rail Struggles


The long hoped-for private financing necessary to construct the California High-Speed Rail project will not come as easily as originally planned.

That, at least, is the conclusion of the authority empowered to build the project, the nation’s single-largest infrastructure program. According to the Los Angeles Times, in a letter to legislators this week the agency warned that the private money that it had counted on to cover a third of the project’s more than $45 billion costs would likely not be available until after parts of the line were up and running. The problem is that investors are concerned about the fact that of the expected major contribution from the federal government, only $3 billion has been authorized so far — and opposition in Congress to President Obama’s high-speed rail program means more money will be difficult to get, at least until after the 2012 elections.

The letter was essentially a preview of the authority’s new business plan, which is due to be submitted November 1. The plan must be approved by the state legislators in order for state funding to be spent on the 220 mph line, which is designed to connect Los Angeles and San Francisco, with future links to San Diego and Sacramento. .............(more)

The complete piece is at: http://www.thetransportpolitic.com/2011/10/20/with-little-hope-for-near-term-federal-support-california-high-speed-rail-struggles/

[FarCenter]

1. Cut the planning funds now; it is unlikely to ever be built

Environmentalists and Native Americans will tie up approvals for decades.

[Johnson20]

3. You are so

right. It would be tied up for decades even if it were fully funded.

[xchrom]

2. recommend