MTC Review Presentation - Sonoma Marin Area Rail Transit - Home ...
MTC Review Presentation - Sonoma Marin Area Rail Transit - Home ...
MTC Review Presentation - Sonoma Marin Area Rail Transit - Home ...
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14<br />
<strong>MTC</strong> Staff Findings<br />
<br />
<br />
<br />
Overall Approach: Phasing of the SMART project is prudent given the<br />
bidding climate and bond market<br />
Cost <strong>Review</strong>:<br />
Cost estimates appear reasonable<br />
Vehicle bid is sound as basis for award<br />
Revenue:<br />
Up to $40 million in grant funding at risk<br />
<strong>MTC</strong> staff will support hearing process for $22 million in RM2 toll funds if<br />
rail terminus is Downtown San Rafael with connection to the <strong>Transit</strong><br />
Center and bridge corridors<br />
Risk in sales tax revenue estimates affects ability to meet debt service<br />
and operating cost requirements<br />
<strong>MTC</strong> staff recommends that SMART work with their financial advisor to<br />
revise its financing plan as soon as possible<br />
M E T R O P O L I T A N T R A N S P O R T A T I O N C O M M I S S I O N
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