Capital Costs & Funding
The challenges of funding a transportation project of the complexity and magnitude of the California high-speed rail system are not new to this program or other large-scale transportation and infrastructure program across the country and around the world. One of the biggest challenges the Authority faces is securing full funding for delivering the system.
To date, the California High-Speed Rail Authority (Authority) has secured significant funds from both state and federal sources. These funds are being used to deliver the Central Valley Segment and complete environmental planning and other early work for the entire Phase 1 System, consistent with federal grant agreements.
Over the last 10 years, the Authority has secured approximately one-third of the funds needed to complete the current estimated cost of the system.
- In 2009, one year after the passage of Proposition 1A, the Authority received $2.5 billion in funds made available through the American Recovery and Reinvestment Act of 2009 (ARRA)
- In 2010, $929 million in additional funding was authorized though a Fiscal Year (FY10) Transportation, Housing and Urban Development grant
- In 2014, the Legislature appropriated 25 percent of the annual proceeds from the Cap-and-Trade Program to support the development and construction of the system, providing an ongoing revenue stream
- In 2017, the Legislature extended the Cap-and-Trade Program through 2030
To help mitigate funding challenges, the Authority is taking a “building block” approach to funding and delivering the program. In 2017, the Board of Directors conducted a comprehensive review of the current Central Valley construction contracts and cost estimates for the Silicon Valley to Central Valley Line and the complete Phase 1 System. The review resulted in these findings:
- A Central Valley Segment estimate-at-completion of $10.6 billion
- An updated Silicon Valley to Central Valley Line estimate of $29.5 billion which also reflects an extended completion schedule of 2029
A Phase 1 System estimate of $77.3 billion which assumes a completion schedule of 2033
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