SAN JOSE (KCBS) – The funding problems at Caltrain may be temporarily solved with help from the Valley Transportation Authority.
Caltrain is facing a $30 million deficit, which may force the agency to cut service nearly in half.
But now, VTA General Manager Michael Burns has come up with several proposals for outside funding, including making a one-time payment to Caltrain for $7.1 million.
“SamTrans would have that money to go to Caltrain and then VTA would also match that money,” Burns said. “You’re talking about half of the projected deficit being satisfied.”
KCBS’ Matt Bigler Reports:
Burns said they could also take funds from future transit projects, like Caltrain electrification, and use it where it’s needed now.
“There seems to be a lot of momentum to do something longer term, but that’s going to take some time,” he said.
VTA Vice Chairman Ken Yeager said whatever option is chosen, it has to happen quickly.
“I’ve asked that we have an additional VTA board meeting if necessary because we really can’t wait till our next meeting next month,” said Yeager.
Caltrain has said that it may have to declare a fiscal emergency in March.
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