Having spent an inordinate amount of time in preliminary engineering, the major transit project for the San Francisco Bay Area is in serious financial trouble, according to the FTA, and could have its $750 million grant withdrawn.
"The Central Subway would reach 1.7 miles from Fourth and King streets (San Francisco Caltrain depot) under Market Street and into Chinatown. It's estimated to cost $1.4 billion and carry 44,700 riders a day by 2030." The subway is actually a continuation of the recently opened light rail line to the city's southeast neighborhoods (see Planetizen link).
"An analysis by federal officials said there are 'significant uncertainties' over the project's alignment and financial plan. Specifically, the report said Muni must complete a realistic plan and schedule, secure more local funding and clarify operating cost estimates by Sept. 30 or be removed from the list of projects recommended for federal funding."
As reported in Planetizen in October, Muni had yet to close a $400 million funding shortfall for the subway extension of the T-Third light rail line.
"This is a warning, and not all warnings are bad," said James Simpson, Federal Transit Administration administrator, who likened it to a schoolchild getting a midterm warning of unsatisfactory work. "This is a serious wake-up call for the grant recipient."
"An independent study commissioned by the city's Municipal Transportation Agency and released last month said the subway would be costly and wouldn't do much to address future transit needs."
Thanks to MTC-ABAG_Library
FULL STORY: Feds threaten to cut Central Subway funds - S.F. transit officials have until Sept. 30 to address key issues
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