On Monday, June 8th, the Sonoma Marin Area Rail Transit agrency (SMART) held a Constractor Symposium outlining information regarding the new commuter rail line approved by voters in those two counties. A Powerpoint
slide presentation (PDF) is available on the
agency's website. I've posted some of the information that I found interesting.
Train Schedule:
- 28 train runs per day, north & south
- frequency: every 30 minutes during peak times
- weekend service: 4 round-trips every Saturday & Sunday (I guess weekend getaways from the city will require being slaves to a minimal schedule... the commuter rail line between South Bend & Chicago
increases its schedule substantially on weekends)
Project Timeline:
- Vehicle Selection: 2008-2009 (6-9 months)
- Strategic Plan: July, 2009
- Design and Engineering: 2009-2011 (24 months)
- Vehicle Procurement/Delivery: 2009-2013
- Construction: 2011-2014
- Revenue Service: Fall 2014
Vehicle options:
- Colorado Railcar compliant DMU (photo included in slides)
- Siemens non-compliant DMU (photo included in slides)
Other project activites:
- Working on fare structure/fare reciprocity agreements/service plan/transit integration issues
Funding:
• Decline in sales tax revenues has been greater than originally projected
• Debt capacity has declined
• Bond structuring requirements and interest rate levels are more difficult to predict
• Preparation of Strategic Plan required updated revenue and construction cost estimates
• Total construction cost estimate increased from $541 million to $590 million; a 9% increase
• Revised Strategic Plan assumptions:
• Sales tax revenues projected at $845 million, or $46 million less than estimated in 2008
• Bonding capacity estimated at $215 million, or $100 million less than estimated in 2008
• Construction costs estimate now $590 million, or $49 million greater than estimated in 2008
• Plan now requires
$155 million in additional local, state and federal funds (eeek!)
• For now, the funding gap does not cause changes to project scope or schedule
• Over the next two years, SMART will:
o Complete final design and bid documents
o Identify funding to fully implement project
o Monitor credit markets to identify optimal time for bonding
o Prepare a Strategic Plan Update to document changing economic conditions