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Yesterday, city of San Jose, Calif., officials approved what amounts to the last endorsement needed for a regional agreement to fully fund Caltrain’s modernization.

The agreement will leverage local, regional and federal funds to secure hundreds of millions of dollars in state high-speed rail dollars, Caltrain officials said in a prepared statement.

The next step required is approval from the California Legislature later this month through the budget process. If the Legislature approves the funds, riders could be using an electrified and modernized system as early as 2019, Caltrain officials said.

The agreement also calls for future improvements to accommodate an integrated Caltrain and high-speed rail service, a so-called “blended system,” between San Francisco and San Jose, which state lawmakers proposed in an effort to contain high-speed rail costs and minimize the impact on local communities. The agreement specifies that the blended system will be limited to two-track design alternatives that are within Caltrain’s existing right of way.

In addition to San Jose’s blessing, the agreement has been approved by the California High Speed Rail Authority, Metropolitan Transportation Commission, Santa Clara Valley Transportation Authority, San Francisco County Transportation Authority, San Mateo County Transportation Authority, city and county of San Francisco, Peninsula Corridor Joint Powers Board and Transbay Joint Powers Authority.