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Committee OKs $39 million in bond proceeds toward Caltrain PTC and electrification agreement
Summary
The committee recommended approving an agreement to administer up to $39 million in Proposition A bond proceeds for Caltrain’s Positive Train Control and electrification projects, confirming the city’s prior commitments and SFMTA’s role as fiscal agent.
The Budget and Finance Committee on Jan. 20 recommended forwarding to the full Board a resolution authorizing the city to administer up to $39 million in capital funding from Proposition A bond proceeds to support Caltrain’s Communications Based Overlay/Positive Train Control project and the Peninsula Corridor Electrification Project.
Anand Dehirsh (SFMTA) told the committee the Joint Powers…
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