Please ensure Javascript is enabled for purposes of website accessibility
Board Approves California Bullet Train's 2018 Business Plan
bill-new-mug-002
By Bill McEwen, News Director
Published 6 years ago on
May 16, 2018

Share

SACRAMENTO — The board tasked with overseeing California’s ambitious high-speed rail project approved a new business plan Tuesday and pledged to keep pushing forward even as the plan faces stark financial challenges.
California High-Speed Rail Chairman Dan Richard
“We are going to deliver high-speed rail for the people of California.”Board Chairman Dan Richard
“We are going to deliver high-speed rail for the people of California,” board chairman Dan Richard said.
At stake is a plan to build a high-speed train between Los Angeles and San Francisco by 2033 at an estimated price tag of $77 billion. A fresh business plan is required every two years, and the 2018 plan is the first under Brian Kelly, the new chief executive of the California High-Speed Rail Authority.
The plan has been updated since Kelly first introduced it in March after two months of comments from the public and lawmakers, including those who are skeptical about the project’s long-term viability.

Ridership, Revenue Projections Dip

Among the updates are slight decreases in ridership and revenue projections and a starker assessment of the financial challenges. The authority doesn’t have enough money in hand to complete an initial segment of the train between San Francisco and the Central Valley.
Kelly wants the Legislature by 2021 to approve a financing plan that would allow the authority to borrow money for construction against revenue from the state’s cap-and-trade program that charges polluters to release greenhouse gases. Twenty-five percent of the revenue from the program is now designated for high-speed rail, but that won’t provide enough up-front money to complete the project. Kelly is asking lawmakers to extend cap-and-trade to 2050, beyond its current expiration date of 2030.

Financing Plan OK Needed By 2021

Not approving the financing plan by 2021 could throw the project’s construction timeline in jeopardy, according to the updated business plan.
Beyond financing, Gov. Jerry Brown has sought authority for the state to handle both California and federal environmental reviews, which would speed up the process. The federal government is in the process of reviewing that request, according to the business plan.
Brown’s term ends next year and leaving the project on stable footing is a key priority for him.

DON'T MISS

How California Legislators Got More Than $1.4 Million in Travel and Gifts in 2023

DON'T MISS

‘Digital Democracy’ Project Penetrates California’s Opaque Political Processes

DON'T MISS

US Shoots Down Iran-Launched Attack Drones as Biden Team Pledges ‘Support’ for Israel

DON'T MISS

Sacramento Gave Homeless Camp a Lease as an Experiment. Here’s What Happened.

DON'T MISS

Merced Supervisors Accused of ‘Triple Crown Race’ of Failures Amid Talk of Closing Fire Stations

DON'T MISS

Teacher Appreciation Week Surprises That Educators Will Love

DON'T MISS

A Mission of Mercy, Then a Fatal Strike: How an Aid Convoy in Gaza Became Israel’s Target

DON'T MISS

Walberg Era Begins With a Charge to ‘Revolutionize’ Bulldogs Basketball

DON'T MISS

California Man Sentenced to 40 Years to Life for Fatal Freeway Shooting of 6-Year-Old Boy

DON'T MISS

16 Clovis Students Rewarded With Scholarships for Their Resilience

UP NEXT

‘Digital Democracy’ Project Penetrates California’s Opaque Political Processes

UP NEXT

US Shoots Down Iran-Launched Attack Drones as Biden Team Pledges ‘Support’ for Israel

UP NEXT

Sacramento Gave Homeless Camp a Lease as an Experiment. Here’s What Happened.

UP NEXT

Merced Supervisors Accused of ‘Triple Crown Race’ of Failures Amid Talk of Closing Fire Stations

UP NEXT

Teacher Appreciation Week Surprises That Educators Will Love

UP NEXT

A Mission of Mercy, Then a Fatal Strike: How an Aid Convoy in Gaza Became Israel’s Target

UP NEXT

Walberg Era Begins With a Charge to ‘Revolutionize’ Bulldogs Basketball

UP NEXT

California Man Sentenced to 40 Years to Life for Fatal Freeway Shooting of 6-Year-Old Boy

UP NEXT

16 Clovis Students Rewarded With Scholarships for Their Resilience

UP NEXT

Dr. Green Thumb’s Is Open. Sweet Flower Debuts Saturday in Fresno Cannabis Rollout.

Bill McEwen,
News Director
Bill McEwen is news director and columnist for GV Wire. He joined GV Wire in August 2017 after 37 years at The Fresno Bee. With The Bee, he served as Opinion Editor, City Hall reporter, Metro columnist, sports columnist and sports editor through the years. His work has been frequently honored by the California Newspapers Publishers Association, including authoring first-place editorials in 2015 and 2016. Bill and his wife, Karen, are proud parents of two adult sons, and they have two grandsons. You can contact Bill at 559-492-4031 or at Send an Email

Sacramento Gave Homeless Camp a Lease as an Experiment. Here’s What Happened.

2 days ago

Merced Supervisors Accused of ‘Triple Crown Race’ of Failures Amid Talk of Closing Fire Stations

2 days ago

Teacher Appreciation Week Surprises That Educators Will Love

2 days ago

A Mission of Mercy, Then a Fatal Strike: How an Aid Convoy in Gaza Became Israel’s Target

2 days ago

Walberg Era Begins With a Charge to ‘Revolutionize’ Bulldogs Basketball

2 days ago

California Man Sentenced to 40 Years to Life for Fatal Freeway Shooting of 6-Year-Old Boy

2 days ago

16 Clovis Students Rewarded With Scholarships for Their Resilience

2 days ago

Dr. Green Thumb’s Is Open. Sweet Flower Debuts Saturday in Fresno Cannabis Rollout.

3 days ago

Reacher Star Alan Ritchson Calls Donald Trump a ‘Rapist’

3 days ago

Community Leaders Call for Transparency in Fresno Superintendent Search

3 days ago

How California Legislators Got More Than $1.4 Million in Travel and Gifts in 2023

Last June, more than half of California’s lawmakers — Republicans and Democrats alike, with no particular ideological preference — attended ...

22 hours ago

22 hours ago

How California Legislators Got More Than $1.4 Million in Travel and Gifts in 2023

22 hours ago

‘Digital Democracy’ Project Penetrates California’s Opaque Political Processes

1 day ago

US Shoots Down Iran-Launched Attack Drones as Biden Team Pledges ‘Support’ for Israel

2 days ago

Sacramento Gave Homeless Camp a Lease as an Experiment. Here’s What Happened.

2 days ago

Merced Supervisors Accused of ‘Triple Crown Race’ of Failures Amid Talk of Closing Fire Stations

2 days ago

Teacher Appreciation Week Surprises That Educators Will Love

2 days ago

A Mission of Mercy, Then a Fatal Strike: How an Aid Convoy in Gaza Became Israel’s Target

2 days ago

Walberg Era Begins With a Charge to ‘Revolutionize’ Bulldogs Basketball

MENU

CONNECT WITH US

Search

Send this to a friend