Highlights from Chapter 5:

Costs and Funding Update

Key Facts
Environmental Schedule
More Information

This chapter summarizes the current and committed federal and state funding. It also includes cost updates for Central Valley construction and summarizes cost estimates for the proposed implementation plan.

The Authority had secured funding from two State sources, Proposition 1A and Cap-and-Trade Funds, and two federal grant sources including the American Recovery and Reinvestment Act (ARRA) and an FY10 grant. In February 2021, the Authority submitted a Funding Plan to the Legislature requesting that it appropriate the remaining $4.2 billion in Proposition 1A funds to continue funding the program. Our goal is to deliver initial passenger service between Merced and Bakersfield and, over the next two years, we will have a clearer picture of both the costs for these extensions and the funding available to build them.

Additional funding is required to deliver the full 500-mile San Francisco to Los Angeles/Anaheim system and potential options for additional funding are reviewed. Including current federal transportation funding proposals and discussions underway in Congress. The chapter concludes with a summary of the cost estimates to complete the remaining project sections. These costs are represented in ranges because environmental documents are not complete and the level of design is at a very preliminary stage.

“Investment in high-speed rail is a commitment towards reducing our emissions while also providing cleaner, more sustainable transportation. My legislation provides the resources to make these projects successful and help our nation build back better. California is leading this charge with over 5,000 jobs working on 119 miles of construction on 35 sites, and I am proud to reintroduce this legislation to help get the project completed.”

Congressmember Jim Costa, (CA-16)

Key Facts

The Authority projects $20.6 to $23.1 billion in total funding available through 2030, the ultimate amount depends on Cap-and-Trade auction proceeds
Costs have increased by $330 million for completion of the 119-mile Central Valley Segment
In addition, based on an in-depth risk assessment, the Authority recommends increasing contingency for potential risks by $1.0 billion
Additional budget ($1.9 billion) is proposed to advance design, acquire high-speed trains, and for program support costs
Cost estimate ranges for the remaining project sections between San Francisco and Madera and from Bakersfield to Anaheim are summarized

Funds Currently Available to the Authority

Text description of the funds chart

Funds Currently Available to the Authority

This chart provides an overview of the current and projected funding available to the Program through 2030. It provides a summary overview and component elements of the available funding. The total amount of identified revenue for the capital program is currently estimated in the range of $20.6 billion to $23.1 billion, with a medium forecast of $21.3 billion. The medium forecast is based on a dynamic Cap-and-Trade market that best matches historical performance of the auctions. The ultimate amount will depend on Cap-and-Trade auction proceeds received through 2030.

$10.5 billion in currently available funds includes $7.6 billion spent to date (11/30/20) and $2.9 billion remaining. $23.1 billion in total authorized funds includes $2.5 billion in Federal ARRA, $3.6 billion Cap-and-Trade actual as of November 30, 2020, $4.3 billion in Prop 1A appropriated funds, $0.9 billion federal FY10 grants, $4.2 billion Prop 1A future funds, and between $5.0 billion and $7.5 billion in Cap-and-Trade future funds.

Costs for Proposed Enhanced Program Baseline

Text description of the costs chart

Costs for Proposed Enhanced Program Baseline

This chart shows changes in comparison to the Central Valley Segment costs as included in the adopted 2019 Program Baseline. This would raise the cost to complete the Central Valley Segment from $12.4 billion, outlined in the Central Valley 2019 Program Baseline Segment to $13.8 billion, the Central Valley Updated Baseline Segment. This revised total incorporates a $1.04 billion enhanced risk contingency and a $0.33 billion known cost increase.

More Information

Learn more about the California High-Speed Rail program and business plan online at https://hsr.ca.gov/ or contact the Board of Directors at (916) 324-1541 or boardmembers@hsr.ca.gov.

Download the Plan

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