FTA Commits $5 Billion to VTA BART SV Extension

FTA has made a commitment to grant more than $5 billion to the final phase of the Santa Clara Valley Transportation Authority (VTA) Silicon Valley (SV) BART Extension project, the second largest investment that the federal government has made in any single transportation project.

“This is very big news, not just for VTA, not just for the project, but for the entire community, the entire valley, the entire Bay Area region,” said Carolyn Gonot, VTA general manager/CEO.

In a recent press conference, Gonot described the letter the FTA sent as notification of the funding commitment. “It talked about their belief that VTA has the ability to deliver this $12.7 billion dollar project. Not every agency gets that letter.”

San Jose Mayor and VTA Board Member Matt Mahan called the commitment a national bet on Silicon Valley, and the innovation economy. “It’s the people of Sant Clara County who got us to this point and enabled us to go secure this historic federal match, because when our community leaders asked them, are you willing to tax yourselves, sacrifice for future generations for our economic growth and prosperity and opportunity for all, our community said ‘yes’ over and over and over again.”

Despite the historic commitment to funding, the BART Silicon Valley Extension still must fill a gap in funding, which VTA will work to fill before applying for the Full Funding Grant Agreement with FTA. For a 60-day period, VTA will freeze new spending, and the agency plans to renegotiate existing contracts to help cover the shortfall.