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Final 12 01 community mtg phase ii presentation
- 1. VTA’s BART SiliconValley Extension BART Phase II Project Update December 1, 2014
- 2. 2 VTA’s BARTSilicon Valley Alignment
- 3. 3 VTA’s BARTPhase I – Berryessa Extension • 10-mile extension under construction • Two Stations: – Milpitas, near the Great Mall – Berryessa, near the San Jose Flea Market • Forecast opening date is Fall 2017 • $2.3 billion total project cost • Anticipated daily ridership for Phase I: 23,000 opening day (doubles in 15 years)
- 4. 4 Current ProjectActivities – Milpitas Construction of Milpitas Station invert underway.
- 5. 5 Current ProjectActivities – San Jose Completed Hostetter Road deck. Construction underway of BART trench at Hostetter Road in the City of San Jose. Construction underway of wayside facilities (train control S44 and substation SHO) (east of the alignment)
- 6. 6 Current ProjectActivities – San Jose Photo of a completed section of the Berryessa Aerial Guideway.
- 7. • Phase IITotal Project Cost in Year of Expenditure Dollars : $4.7 billion – $163 million incurred to date • Anticipated Daily Ridership for Phase II: 55,000 – 2035 forecast ridership – based on 2012 model forecast 7 VTA’s BART Phase II Project
- 8. 8 Measure AOverview • Measure A is a ½ cent retail sales tax in Santa Clara County • Began collections in 2006 and will sunset in 2036 • Devoted to specified public transit capital improvement projects and operations • VTA Board of Directors determined BART Silicon Valley a priority project in December 2008
- 9. $16,000 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2014: $7.4B 9 Measure A Sales Tax Revenue – Cumulative Forecast Projections Millions of Year-of-Receipt Dollars 2001: $14.3B 2005: $9.9B 2007: $8.7B 2009: $6.6B
- 10. Measure A ½-CentSales Tax Uses of Funds FY2006-FY2036 Other Projects SVRT Phase 1 Cost of Debt Operating 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - Uses 10 $1.5B Millions of Year-of-Expenditure Dollars Incurred Thru 6/14 VTA’s BART Silicon Valley Extension Phase I
- 11. Measure A ½-CentSales Tax Uses of Funds FY2006-FY2036 Other Projects SVRT Phase 1 Cost of Debt Operating Other Projects SVRT Phase 1 Cost of Debt Operating 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - Uses 1111 Millions of Year-of-Expenditure Dollars Project Commitments $3.0B $1.5B Incurred Thru 6/14 VTA’s BART Silicon Valley Extension Phase I VTA’s BART Silicon Valley Extension Phase I
- 12. Measure A ½-CentSales Tax Uses of Funds FY2006-FY2036 Future Projects Cost Future Projects/ Debt Cost Other Projects SVRT Phase 1 Cost of Debt Operating Other Projects SVRT Phase 1 Cost of Debt Operating 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - Uses Remaining Measure A Funds Available Millions of Year-of-Expenditure Dollars Project Commitments Future Projects Cost of Debt 12 $2.9B $3.0B $1.5B Incurred Thru 6/14 TOTAL $7.4B VTA’s BART Silicon Valley Extension Phase I VTA’s BART Silicon Valley Extension Phase I
- 13. 13 Measure A– Phase II Funding • Measure A funds constrained – $2.9 billion remaining for Measure A projects and financing • Additional funding needed to build Phase II • VTA will pursue federal funding from the Federal Transit Administration’s (FTA) New Starts Program – New Starts rating for projects is based on two criteria: Project Justification (50%) and Local Financial Commitment (50%) • Other funding – Cap & Trade, Value Capture, etc.
- 14. Phase II CapitalCosts and Sources of Funds 2.6 2.43 1.1 1.1 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 1.0 1.0 * The 4-Station Alternative cost includes a full maintenance facility at Newhall. ** Analysis of Measure A revenue forecast is underway. The results from this analysis will determine the extent of Measure A revenue that may be available for projects and estimate the Shortfall $ for SVRT Phase II. 14 1.1 1.0 0.0 4-Station Alternative (Alum Rock, Downtown, Diridon, Santa Clara)* $4.7 billion TCRP State Funds Shortfall $ ** New Starts Measure A ** .163 0.16
- 15. 15 Project History– Environmental Process • 2004 – State clearance (CEQA) on Final Environmental Impact Report (EIR): 16-miles • 2007 – CEQA clearance on Final Supplemental EIR (SEIR): 16-miles • 2010 – Federal clearance (NEPA) on Final Environmental Impact Statement (EIS): 10-miles • 2011 – CEQA clearance on 2nd SEIR: 10-miles • 2015 – Joint CEQA and NEPA document (SEIS/SEIR3): 6-miles
- 16. Environmental Process State(CEQA) and federal (NEPA) Environmental Process Timeline 16
- 17. Environmental Process •Notice of Preparation (NOP) – notification to state and other agencies of the project including a description, the location, and potential environmental issues • Scoping – an opportunity for members of the public and agencies to provide input in the proposed project, purpose and need, the various environmental topical areas related to the project, and the scope and content of the draft environmental document 17 • Record of Decision (ROD) – federal environmental clearance
- 18. NEPA/CEQA & NewStarts (Federal Funding Program) Milestone Schedule 18
- 19. 19 Future CommunityEngagement Activities • Ongoing community outreach and engagement during environmental process • Environmental process kick-off (scoping meetings) – late January/early February • Focused Outreach Sessions – Spring 2015, some topics may include: – Economic and Community Benefits – Funding – Station Planning – Transportation Connectivity – Construction Methods
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Editor's Notes
- #4 Photo on left – Crews began installation of the Train Control House foundation.
- #10 Nate Notes: Cumulative Average Growth Rates / 2007 starting balance by Forecast: 2001: 4.7% / $230M 2005: 4.8% / $156M 2007: 3.6% / $161M 2009: 2.2% / $161M 2014: 3.2% / $161M
- #11 Nate Notes: All amounts in YOE$, from FY15 to FY36 Incurred to Date: $1.47 billion Operating Assistance: $244 million Cost of Debt: $263 million SVRT Phase 1: $695 million Other Projects: $272 million (includes other expenses of $94 million) If principal paid to date of $38 million is included, total incurred to date is $1.51 billion
- #12 Nate Notes: All amounts in YOE$, from FY06 to FY36 Project Commitments: $3.01 billion Operating Assistance: $1,116 million Cost of Debt: $572 million SVRT Phase 1: $1,093 million (net cost to Measure A after grants) Other Projects: $235 (net cost to Measure A after grants) Bus: $53 million Light Rail: $89 million Commuter Rail: $75 million Other Expenditures: $18 million Incurred to Date: $1.47 billion TOTAL: $4.49 billion
- #13 Nate Notes: All amounts in YOE$, from FY06 to FY36 Remaining Measure A Funds Available: $2.87 billion Funds available to support project expenditures will depend on the timing, amount of debt Project Commitments: $3.01 billion Incurred to Date: $1.47 billion TOTAL: $7.36 billion Minimum Debt Service Coverage Ratio Gross Coverage = Dedicated Revenue Total Debt Service Net Coverage = Dedicated Revenues less portion for O&M Total Debt Service Required Minimum Gross Coverage VTA 1976 ½-Cent Sales Tax: 3.0 2000 Measure A ½-Cent Sales Tax: 1.3