Skip to main content

SFMTA Receives $116 Million Award from CalSTA

SFMTA Receives $116 Million Award from CalSTA
By

Two Light Rail Vehicles at a Station Platform

A Snapshot from our most recent round of service changes

Back in June, we published a blog about the loss of Proposition A, the Muni Reliability and Street Safety Bond, and what it would mean for our infrastructure projects going forward.

In the post, we reaffirmed our commitment to find alternative sources for these funds. We know that improving Muni and making streets safer remain priorities for our community—and we’re dedicated to making that a reality. We’ve also committed to being transparent about our financial situation and budget, and we have good news to share on that front.

Last week, the California State Transportation Agency (CalSTA) awarded us $116 million for SFMTA Core Capacity projects as part of the fifth cycle of the Transit and Intercity Rail Capital Program (TIRCP). This historic investment will be used to directly fund projects that will make Muni more reliable and dependable. Speeding up Muni and making it a more desirable option for San Franciscans benefits all of us—including easing congestion

Three key components of our system will benefit from this money. Funding for this project will implement the Muni Forward program on three key corridors (K, N, and the 38R Geary lines) to enhance reliability, efficiency, travel times, and rider comfort. Muni Forward has already been successfully deployed on 70 miles of Transit Priority Projects across San Francisco.  The new Muni Forward projects will promote reliability and ridership gains on the K Ingleside and N Judah rail lines, and the 38 Geary bus line.

Two phases of our Train Control Update Project will also receive funding from CalSTA. This project will eventually increase capacity by 20 percent on our vehicles that travel through the Market Street tunnel and will for the first time provide the ability for centralized line management of the entire light rail system.

Lastly, CalSTA is providing funding for a Muni Metro Modernization Planning Study, which will identify the next package of investments to provide additional capacity and reliability improvements for the Muni Metro. Together, these infrastructure improvements will provide Muni rail customers faster, longer trains and a quality of service that can be relied on for time-sensitive trips.

The SFMTA also received news last week that Moody’s Investors Service has assigned an Aa3 on revenue bonds forthe SFMTA's outstanding revenue bonds and the agency’s planned issuance of revenue bonds to help fund critical capital projects. Although this is a downgrade from our previous Aa2 rating, Aa3 is currently the highest rating for US mass transit systems’ revenue bonds secured by general operating revenue. Moody’s also assigned the SFMTA a rating outlook of “stable” based on the expectation that our finances will be balanced with federal aid over the next 18-24 and the SFMTA’s commitment to proactively seek additional revenue sources to a maintain structural balance. You can read more about the announcement at our Press Center.

We will continue to update the public as we get a better sense of our financial outlook and identify alternate funding sources for projects that depended on Proposition A funding. We will continue to have more conversations and engagement with community members and community-based organizations on their priorities to deliver a transportation system that works for all San Franciscans.



Published July 09, 2022 at 01:05AM
https://ift.tt/hSTMxCg
Labels:

Comments

Post a Comment

Popular posts from this blog

New top story from Time: All 53 People Aboard Indonesia Submarine Declared Dead After Vessel’s Wreckage Found

https://ift.tt/3ezrzg5 ANYUWANGI, Indonesia — Indonesia’s military on Sunday officially said all 53 crew members from a submarine that sank and broke apart last week are dead, and that search teams had located the vessel’s wreckage on the ocean floor. The grim announcement comes a day after Indonesia said the submarine was considered sunk, not merely missing , but did not explicitly say whether the crew was dead. Officials had also said the KRI Nanggala 402’s oxygen supply would have run out early Saturday, three days after vessel went missing off the resort island of Bali. “We received underwater pictures that are confirmed as the parts of the submarine, including its rear vertical rudder, anchors, outer pressure body, embossed dive rudder and other ship parts,” military chief Hadi Tjahjanto told reporters in Bali on Sunday. “With this authentic evidence, we can declare that KRI Nanggala 402 has sunk and all the crew members are dead,” Tjahjanto said. An underwater ro...
Post a Comment
Read more

New top story from Time: A COVID Outbreak Sparked by Partying Teens Leads to 5,000 Being Quarantined in Spain

https://ift.tt/2UJaeL7 MADRID — Almost 5,000 people are in quarantine after vacationing high school students triggered a major COVID-19 outbreak on the Mediterranean island of Mallorca, a senior official said Monday. Authorities have confirmed almost 1,200 positive cases from the outbreak, Spain’s emergency health response coordinator, Fernando Simón said. The partying teens celebrating the end of their university entrance exams last week created a “perfect breeding ground” for the virus as they mixed with others from around Spain and abroad, Simón told a news conference. Mallorca health authorities carried out mass testing on hundreds of students after the outbreak became clear. It is believed to have spread as hundreds of partying students gathered at a concert and street parties. Officials have so far traced 5,126 travelers to Mallorca. More than 900 COVID-19 cases in eight regions across mainland Spain have been traced back to the outbreak. Scores of infected teens are...
Post a Comment
Read more

New top story from Time: Ireland Abandons 12.5% Tax Pledge as Global Deal Races to Finish

https://ift.tt/3iFmrts Ireland is ready to sign up to a proposed global agreement for a minimum tax on companies, a climbdown that removes one hurdle to an unprecedented deal that would reshape the landscape for multinationals. On the eve of a key meeting between 140 countries hosted by the Organization for Economic Cooperation and Development, the Irish government said it will join the push for a floor of 15% levied on profits of corporate entities. “This agreement is a balance between our tax competitiveness and our broader place in the world,” Irish Finance Minister Paschal Donohoe said in a statement Thursday evening announcing the pledge. The decision “will ensure that Ireland is part of the solution in respect to the future international tax framework.” [time-brightcove not-tgx=”true”] The rate agreed is 2.5 percentage points higher than the longstanding level that has been a pillar of Ireland’s economic model for a generation, underscoring its huge symbolic signifi...
Post a Comment
Read more

New top story from Time: The Ice Road Is an Overly Twisty Action Adventure That Has Its Charms, Chief Among Them Liam Neeson

https://ift.tt/3xRjBXp How much plot is enough for a movie? It would be enough, maybe, just to follow three big rigs as they carry several super-heavy loads over treacherously not-so-frozen Canadian waterways, part of a desperate plan to rescue trapped miners whose oxygen is running out by the minute. That’s the premise The Ice Road starts out with: it’s kind of a springtime-in-Manitoba version of Henri-Georges Clouzot’s 1953 thriller The Wages of Fear, only featuring post-middle-aged block-knocker Liam Neeson instead of swarthy Italian-born hottie Yves Montand. As it turns out, The Ice Road is perhaps a little too twisty. Around the 50-minute mark a jackknife plot turn sends it careering off-road, and it becomes an overburdened movie rather than a nimble one. Still, this good-guys-outdriving-the-devil adventure—written and directed by Jonathan Hensleigh, an old-school veteran of action-movie scripts—has its blunt charms, and offers more than one instance of Neeson punch...
Post a Comment
Read more

New top story from Time: There’s No Definitive List of Roman Empresses. Their Individual Stories Still Matter

https://ift.tt/3mNRYe8 A line-up of busts or paintings of the first twelve Roman emperors is one of the commonest decorations in up-market houses in Europe and the United States. Most are not actually ancient Roman, but modern versions created over the last few hundred years, attempting to capture the distinctive “look” of these famous, or infamous, dynasts, from Julius Caesar (assassinated 44 BCE) to Domitian (assassinated 96 CE). They are so familiar that most of us walk straight past them in museums and galleries, without a second look. Not so with their wives. In the modern world we have been used to spotting female power-wielders or villains, as the power behind throne—whether Nancy Reagan whispering in Ronald’s ear, or Ivanka Trump in the ear of her father . But what of ancient Rome and Roman versions of female imperial power? What do we think of Roman “empresses” ? Is there a model for power among the women of the Roman hierarchy? Many of us thrilled to the wicked Liv...
Post a Comment
Read more

New top story from Time: As Myanmar’s Junta Intensifies Its Crackdown, Pro-Democracy Protesters Prepare for Civil War

https://ift.tt/3cUWeEQ Before the Feb. 1 coup, Zarni Win* worked for a United Nations-funded committee that monitored a ceasefire between Myanmar’s junta and ethnic armed groups. Today, the 27-year-old from Yangon, the country’s largest city, is getting ready to enlist in one of those groups herself. “Now is the time to start preparing to eliminate the terrorist military,” she tells TIME. “I am ready to join the armed revolution.” Myanmar is veering dangerously toward all-out civil war as the military, known as the Tatmadaw, terrorizes the public , and attacks restive ethnic territories. The U.N. special envoy for Myanmar, Christine Schraner Burgener, warned on Mar. 31 that “a bloodbath is imminent.” In an online presentation cited by the Associated Press, she said civil war “at an unprecedented scale” was a possibility and spoke of Myanmar’s deterioration into a “failed state.” Protesters in Myanmar have maintained a largely peaceful resistance to dictatorship since ...
Post a Comment
Read more

New top story from Time: Almost Every Doctor Recommends Sunscreen. So Why Don’t We Know More About Its Safety?

https://ift.tt/3llOUXn Each year, as Memorial Day approaches, Holly Thaggard braces herself for the headlines. About how sunscreen may be damaging coral reefs . About the possible flammability of spray-on sunscreen . Headlines—as there were this year—about how sunscreen contains chemicals that could harm your health . “This has happened every single year for the last decade of my life,” says Thaggard, founder of Texas-based Supergoop, a sunscreen company that brands itself as reef-safe and free of hundreds of potentially problematic ingredients. This year, the is-sunscreen-dangerous news cycle started in May, when Valisure, an independent laboratory dedicated to quality-testing pharmaceuticals and personal-care products, released a report warning that its scientists found benzene—a carcinogen also found in vehicle emissions and cigarette smoke—in 78 U.S. sun-care products. Benzene is not an ingredient in sunscreens, but rather a contaminant likely introduced during the manu...
Post a Comment
Read more

New top story from Time: This Is the White House’s Plan to Take on Facebook

https://ift.tt/3oEQl4Y Facebook whistleblower Frances Haugen’s testimony this week on Capitol Hill turned the Klieg lights on the social media platform’s algorithm that, by design, amplifies dangerous disinformation and lures people to spend more and more time scrolling. The question now is what the Biden Administration will do about it. White House officials know that the momentum generated by Haugen’s testimony will fade over time and the window of popular support for major structural changes to the technology landscape will close. “The White House, like everyone else in Washington, recognizes that the tide is high and the time for action is now,” Tim Wu, special assistant to the president for technology and competition policy, said in a statement to TIME. White House officials are “distressed” by Haugen’s revelations that social media companies’ products are targeting children, Wu said, and “the era of ‘let’s just trust the platforms to solve it themselves’ needs to be ...
Post a Comment
Read more

New top story from Time: Duo Share Nobel Chemistry Prize for Work on Solar Cell Advances

https://ift.tt/3oGVh9p Two scientists, working independently of each other, won the Nobel Prize in chemistry for their work into molecular construction and its impact on a range of uses from solar cells to battery storage. Benjamin List, from the Max-Planck-Institut in Germany, and David MacMillan, a professor at Princeton University, won the award for developing “an ingenious tool” for building molecules, according to the Royal Swedish Academy of Sciences. “Researchers can now more efficiently construct anything from new pharmaceuticals to molecules that can capture light in solar cells,” the academy said. The two recipients will share the 10 million-krona ($1.1 million) award. BREAKING NEWS: The 2021 #NobelPrize in Chemistry has been awarded to Benjamin List and David W.C. MacMillan “for the development of asymmetric organocatalysis.” pic.twitter.com/SzTJ2Chtge — The Nobel Prize (@NobelPrize) October 6, 2021 Annual prizes for achievements in physics, chemistry, med...
Post a Comment
Read more