In early September, guidelines for $900 Million to $1.5 Billion in state rail funding for projects in Northern California will be issued by the California State Transportation Agency. These funds were included as part of the summer state budget deal that also provided $4.2 billion for the Central Valley segment of the High Speed rail project, in a resolution to a multi-year debate.
Caltrain electrification will be highly eligible for these new state funds, according to Caltrain’s chief communications officer Casey Fromson at the September board meeting. Caltrain is about $400 million short of the funds needed to complete the project, following a budget refresh last summer.
Meanwhile, construction continues and new electric train sets are arriving every several months. Caltrain needs additional funding mid-2023 to keep up the cash flow for the project. The project is scheduled to be completed in 2024.