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Board adopts updated program baseline and fiscal year 2025-26 budget; board accepts adjusted $36.75B capital estimate for Merced'Fresno'Bakersfield plan
Summary
The board accepted a program baseline and the fiscal year 2025-26 capital budget of $2.6 billion and an administrative and capital support budget of $117 million; staff presented an optimized capital cost estimate of $36.75 billion for the Merced-to-Bakersfield program and explained assumptions about contested federal grant funding.
The California High-Speed Rail Authority board voted to accept the 2025 program baseline and the fiscal year 2025-26 capital budget at its public meeting on Thursday, approving a $2.6 billion capital outlay plan for 2025-26 and a $117 million administrative and capital support budget.
Chief Financial Officer Jamie Mataka told the board the authority's updated, optimized total capital cost estimate for the Merced-Fresno-Bakersfield program is $36.75 billion, down from earlier, higher estimates after a program-wide reassessment of design, sequencing and estimating methods.
Why it matters: The baseline and budget acceptance authorizes continued work on the authority's current program of construction and advances long-lead activities while the authority manages…
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