California to Receive Additional Funds for Los Angeles Maglev Project.Business Editors/Government & Transportation Writers SACRAMENTO, Calif.--(BUSINESS WIRE)--Sept. 4, 2001 California's Secretary of Transportation Maria Contreras-Sweet announced today that the State will receive an additional $877,066 in federal funding for the next phase of pre-construction activities to determine the feasibility of the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Maglev System. The federal funds Federal Funds Funds deposited to regional Federal Reserve Banks by commercial banks, including funds in excess of reserve requirements. Notes: These non-interest bearing deposits are lent out at the Fed funds rate to other banks unable to meet overnight reserve are available to California under the Maglev Deployment Program administered by the Federal Railroad Administration The Federal Railroad Administration (FRA) was created in 1966 as a division of the U.S. Department of Transportation to promote rail transportation and safety. The FRA is one of 10 agencies within the Department of Transportation concerned with intermodal transportation. . California has received $3.4 million in federal funds for the project since 1999. Maglev (magnetic levitation magnetic levitation or maglev (măg`lĕv), support and propulsion of objects or vehicles by the use of magnets. The magnets provide support without contact or friction, allowing for fast, quiet operation. ) is an advanced technology in which magnetic forces lift, propel, and guide a train over, usually, an elevated guideway at speeds of up to 300 mph. For the past several months the Business, Transportation and Housing Agency has been actively involved in negotiations with the Federal Railroad Administration, Caltrans and the Southern California Association of Governments (SCAG scag - To destroy the data on a disk, either by corrupting the file system or by causing media damage. Compare scrog, roach. ) for the additional $877,066. The maglev project seeks to implement regional high-speed rail service in Southern California to help alleviate traffic congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. , improve air quality and link Southern California's regional airports more effectively. "I want to emphasize that these funds will be used to conduct more detailed engineering, financial and environmental studies during the next phase before a final decision is made to support construction of the project," said Secretary Contreras-Sweet. The funds will be used in part to study the impacts of the proposed maglev route on future state highway needs and on its potential contribution to achieving Governor Davis' goal of reducing traffic congestion. |
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