The ongoing construction of four new BART stations and six miles of line in San Jose and Santa Clara has seen the project’s cost estimates rise from $9.3 billion to $12.2 billion, Santa Clara Valley Transportation Authority’s general manager said.
The higher price is due to inflation and the higher costs of labor and materials, VTA general manager Carolyn Gonot said.
“The good news is that the strong fiscal position of VTA and other funding sources provide a funding plan that can absorb the increase,” Gonot said during a news conference Wednesday.
She said the figure remains within their funding plan thanks in large part due to local supported tax measures as well as state and federal sources and that VTA does not plan to look at adding any further tax measures to fund the project.
VTA will, however, be seeking a grant from the Federal Transit Administration New Starts program to round out the project’s funding plan.
“The project could not be done without federal funding,” said VTA spokesperson Stacey Hendler Ross.
Extending the line
Part of the funding for the projects was first approved by voters in Santa Clara County in 2000 with the passage of Measure A.
The expansion was split into two phases. The first phase, built by VTA, was the extension from Fremont to North San Jose’s Berryessa neighborhood that opened in June 2020 and came in $100 million under budget, according to Gonot.
The four new stations will be 28th Street/Little Portugal, Downtown San Jose, Diridon and Santa Clara. Excavation for the tunnel portal in Santa Clara could begin as early as this year, she said.
The entire project is expected to be completed in 2036, three years later than previously expected.
“This project is very important not only to this region, but it is a very key project in the program and in the portfolio that the FTA (Federal Transit Administration) has,” Gonot said.
The VTA Board of Directors was scheduled to receive an update Thursday evening regarding the increased cost and new schedule.