Funding as of December 2008
HRT has recently presented a new "Cost to Complete" which will result in a re-evaluation of the project's budget and funding sources as shown below. HRT and its funding partners are currently working on a revised budget to reflect the latest conditions. It will be posted here as soon as available. Click here to view the "Cost to Complete" information.
Currently, The Tide is in the construction phase of the New Starts process. A New Start is a fixed guideway transit project (such as light rail) that is funded through federal grants issued by the Federal Transit Administration (FTA) that allow transit agencies like HRT, to further design and engineer their projects.
HRT executed a Full Funding Grant Agreement in fall 2007 which provided necessary federal funds to begin construction activities. Construction began late 2007 and passenger revenue operations are expected to begin in May 2011. The charts and tables below summarize the capital funding received from the FTA, state and local sponsors as of December 2008.
Complete text of the Full Funding Grant Agreement (1.8MB)
LRT Funding Sources as of December 2008
| Source | Federal | State | Local | Total |
|---|---|---|---|---|
| STP | $38,203,200 | $9,550,800 | $47,754,000 | |
| FHWA | 1,000,000 | 1,000,000 | ||
| Federal NS | 127,980,000 | 127,980,000 | ||
| FY99 GA Grant | 2,590,474 | 2,590,000 | ||
| FY08 Gov Budget Grant | 10,000,000 | 2,500,000 | 12,500,000 | |
| FY08 Mass Transit Fund Grant | 9,633,796 | 8,892,734 | 18,526,530 | |
| FY09 Mass Transit Capital Grant | 12,369,818 | 3,092,454 | 15,462,272 | |
| Prev State MTF | 2,257,740 | 2,257,740 | 4,515,272 | |
| Local | 16,257,072 | 16,257,072 | ||
| Oct 08 Funding Commitment Level | $167,183,200 | $46,402,628 | $33,000,000 | $246,585,828 |
| Local Components | 13,702,179 | 13,702,179 | ||
| DRPT Additional Funding Proposal | 20,707,086 | 7,004,907 | 27,711,993 | |
| DRPT Funding Proposal | $167,183,200 | $67,109,714 | $53,707,086 | 288,000,000 |
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