Financing Plan and Environmental Clearance Move Ahead for High-Speed Train

San Jose Mayor Chuck Reed and San Francisco Mayor Gavin Newsome made a noteworthy appearance before the California High-speed Rail Authority Board yesterday urging support for the staff-recommended route connecting the statewide high-speed train system through the Central Valley to the Bay Area.

Both mayors, as well as well as a number of other local and state elected officials, endorsed the Pacheco Pass alignment as the best economic, environmental and efficient ridership high-speed train route linking the San Francisco/Bay Area to Los Angeles.

Authority Chairman Judge Quentin Kopp stated, “It is essential for the environmental document to be completed as another sign that Californians want to build high-speed rail. Certifying legally valid environmental documents will facilitate private sector investment and federal funding.”

“We need to move from process to action and put high-speed trains before the voters,” said Mayor Newsom. “It is imperative to the state’s future.”

The Authority Board directed staff to proceed to finalize the program-level environmental analysis based on the recommendations of its staff.

The Board also directed its staff to work with Tri-Valley and San Joaquin and other regional transportation agencies and train operators to create a steering committee to evaluate and implement rail improvements in the Altamont Pass Corridor.

The final EIR/EIS document could be ready for board consideration as early as March 2008. Should they vote to approve the document, it would then go the Federal Railroad Administration for certification.

The Authority Board’s finance consultants presented their update on discussions with private sector interests to help fund the building of the train.

“The U.S. finance markets are interested and their pockets are deep as long as risks are adequately addressed. It will require strong support at the state and federal levels as well as mitigation of environmental risks before the private sector will step up to the plate,” reported Carrie Farley from Infrastructure Management Group, Inc.

In ending the marathon session, Commissioner T.J. Schultz, the labor appointee to the Authority Board, said, “This Authority was commissioned to build a high-speed train from San Francisco to Los Angeles — Let’s do it!”