The Federal Transit Administration’s (FTA) New Starts program is the federal government’s primary financial resource for supporting capital investments in locally planned, implemented and operated transit fixed guideway systems. An agreement dedicating $942.2 million in New Starts funds for the Central Subway Project was approved by the FTA in October 2012. So far the project has received $177.4 million in New Starts funding, with the remaining amount to be distributed in annual allocations as the project progresses.
In February 2012, the FTA released its Annual Report on Funding Recommendations for Fiscal Year 2013. The report included annual ratings for projects competing for federal New Starts funds. For the fifth consecutive year, the Central Subway Project received a "medium-high" overall rating (PDF). The project received a "high” rating for land-use benefits and economic development and a "medium" rating for local financial commitment. This rating was among the highest of all projects in the New Starts process nationwide, contributing to the eventual approval of the Central Subway Project’s New Starts grant.
The following table summarizes the ratings the project achieved in New Starts assessments prior to FTA approval of the full commitment of New Starts funds.
|FTA New Starts Fiscal Year Proposed Allocations||Central Subway Overall Rating|
|FY 2013, Project Profile||Medium-high|
|FY 2012, Project Profile (PDF)||Medium-high|
|FY 2011, Project Profile (PDF)||Medium-high|
FTA New Starts Program Background
For the past 35 years, the New Starts program has helped make possible hundreds of new or extended transit fixed guideway systems across the country. Federal investment in rail and bus transit has improved the mobility of millions of Americans, helping to reduce congestion, improve air quality and enhance quality of life.
The FTA’s New Starts program is subject to the toughest review of any federal funding program, receiving far greater scrutiny than highway investments. The Central Subway Project is one of the nation’s highest-rated projects in the New Starts program.
New Starts investments are creating jobs now and putting us on track for economic growth in the future.