Source: http://laist.com/2011/11/30/california_high_speed_rail_system_analysis.php
"Originally, the price tag for the shiny new rail system totaled $43 billion and was slated for completion in 2020. Now, the estimate has exploded to an uncertain $98 billion; the completion date has been postponed just a few years to 2034 (if ever)."
Image caption: Mission Bay - An illustration of a high-speed train northbound along I-5 in adjacent to the existing railroad right-of-way. Image via Facebook.
Californians have had their fingers, toes and eyes crossed for a high-speed rail system that connects NorCal to SoCal, promising a more convenient and efficient means to travel the Golden State without ever preparing for take off. But recent news from the state's legislative analyst indicates that this transportation dream may be merely that - a dream.
The analyst says that the California High-Speed Rail Authority's plan for the $98 billion system does not comply with certain parts of the 2008 ballot measure approved by voters to provide seed money for the project.
Huffington Post says that "Proposition 1A required rail officials to identify all sources of committed funds for a usable segment of the line and to clear all environmental requirements before the $9 billion in bonds could be sold." The Authority's latest proposal aims to install a 130-mile stretch of track from Merced to Bakersfield. Serving as a test track for 220mph (!!!) trains, the stretch could also be used by existing Amtrak routes until the high-speed rail's next segment is completed.
However, the Legislative Analyst's Office issued a report on Tuesday claiming that the Central Valley stretch would not be a stand-alone operating segment of the high-speed rail, as outlined in Proposition 1A.
The analyst's office dropped another bomb on the plan, saying the 130-mile stretch "may be all that is ever built." Citing abating federal funding and speculative financing for many of the rail plans, the report said, "It is highly uncertain if funding to complete the high-speed rail system will ever materialize."
On November 22, the California High-Speed Rail Authority announced in a press release that they signed a cooperative agreement with the Federal Railroad Administration that will provide $928 million in federal funding for the construction of the Central Valley segment. The release says that construction will begin in the fall of 2012 in Fresno.
Originally, the price tag for the shiny new rail system totaled $43 billion and was slated for completion in 2020. Now, the estimate has exploded to an uncertain $98 billion; the completion date has been postponed just a few years to 2034 (if ever).
Aside from the escalating budget, the House so kindly passed a spending bill on November 17 that squashed federal funding for the high-speed rail system. California Watch says Republicans want to focus on funding Amtrak's busy Northeast corridor linking Boston, New York and Washington. Oh, it's on, east coast.
Need a little pick-me-up after that sad trombone? Watch Mad Men talk high-speed trains. "America always makes the right investment."
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