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3/2/2020
The Federal Transit Administration (FTA) last week announced that Trinity Metro in Fort Worth and the Metropolitan Transit Authority of Harris County (METRO) in Houston, Texas, will retain a combined $57.4 million of cost savings the administration generated from completed projects in the FTA’s Capital Investment Grant (CIG) program.
The FTA encourages project sponsors in the CIG program — which funds major transit projects — to develop realistic cost estimates when planning a project. Savings to the FTA generated from a completed CIG project can then be considered for use on eligible activities related to the project, FTA officials said in a press release.
“FTA considers and approves additional project activities using the federal share of a project’s cost savings,” said FTA Acting Administrator K. Jane Williams. “We encourage project sponsors who deliver complete projects under budget to discuss these options with us to maximize the benefits that cost savings can bring to their communities.”
Trinity Metro will retain up to $38.9 million to build a 2.1-mile extension of the TEX Rail Commuter New Starts project estimated to cost approximately $100 million. The project will extend the line from the Texas & Pacific Station to a proposed Medical District located southwest of downtown Fort Worth.
Trinity Metro completed the TEX Rail project 12 months early and $80.6 million under budget.
METRO will retain up to $18.5 million to build a transit center at the end of the North Corridor Light Rail New Starts Project. The center will have seven bus bays and a 660-space parking garage, costing $37 million.
Houston METRO completed the North Corridor project 18 months early and $83.8 million under budget.