The Federal Transit Administration (FTA) recently approved three project sponsors of Capital Investment Grants (CIG) Program projects to use a combined $64.2 million of the federal share of project cost savings for eligible activities related to their original projects.
This approval will allow for additional public transportation improvements to support safety and increase access and mobility for residents in Florida and Texas.
FTA encourages project sponsors in the CIG Program to develop realistic cost estimates when planning a project. Savings to the FTA generated from a completed CIG project can then be considered for use on eligible activities related to the project.
"FTA considers and approves additional project activities using the federal share of a project’s cost savings," FTA Acting Administrator K. Jane Williams said in a statement. "We encourage project sponsors who deliver complete projects under budget to discuss these options with us to maximize the benefits that cost savings can bring to their communities."
Project sponsors approved to retain some of FTA’s project cost savings are as follows:
- Trinity Metro in Fort Worth, Texas, will retain up to $38.9 million in the federal share of project cost savings to build a 2.1-mile extension of the TEX Rail Commuter New Starts project estimated to cost approximately $100 million.
- Houston Metro in Houston, Texas, will retain up to $18.5 million in the federal share of project cost savings to build the proposed Northline Transit Center at the end of the North Corridor Light Rail New Starts Project.
- The Jacksonville Transportation Authority (JTA) in Jacksonville, Florida, will retain up to $6.8 million in the federal share of project cost savings to construct a 1,200-ft extension of the East Corridor Bus Rapid Transit (BRT) project.
Since January 20, 2017, FTA has advanced funding for 25 new CIG projects throughout the nation totaling approximately $7.6 billion in funding commitments. The agency has executed 22 CIG funding agreements totaling more than $4.55 billion in CIG funding.
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SOURCE: Federal Transit Administration
