The California High-Speed Rail Authority has a route. Now all it needs are tens of billions of dollars to actually build a high-speed passenger train system between Los Angeles and San Francisco. The authority’s board on Wednesday selected a preferred routing to carry the proposed line into the San Francisco Bay area from the Central Valley. The board chose to select a more direct but less populated routing through the Pacheco Pass over the more-populated Altamont Pass. The decision, while important to dozens of transit and transportation advocates who attended Wednesday’s meeting in Sacramento, will be moot unless the authority comes up with money to build the project. As it stands now, the project is supposed to be seeded with proceeds from a $9.95 billion general obligation bond measure that is currently scheduled for the state’s November ballot, though the final tab is expected to be much higher. But lawmakers have twice postponed the high-speed rail measure, which was originally to have appeared on the ballot in 2004, and the possibility remains that they will postpone the measure again, if not kill it outright.
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The New York City Transitional Finance Authority leads the new-issue calendar with a total of $1.8 billion of future tax-secured subordinate bonds in the negotiated and competitive markets.
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The nation's 3,300 airports face $151 billion in infrastructure needs over the next five years, according to the 2023 U.S. Airport Infrastructure Needs Report.
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The budgetary process has been marked by political fights between the governor and the general assembly.
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Chicago's top suburban customer and Illinois' largest water wholesaler bought land for a treatment plant in Northbrook, saying it will strike out on its own.
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The approval clears the way for groundbreaking on a bridge that the two states have been trying to replace for 12 years.
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More funding went to oil and gas subsidies than into green energy projects in recent years, according to panelists at Milken Institute's Global Conference.
May 10