[Code of Federal Regulations]
[Title 49, Volume 6]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR611.11]

[Page 33-34]
 
                        TITLE 49--TRANSPORTATION
 
                             TRANSPORTATION
 
PART 611--MAJOR CAPITAL INVESTMENT PROJECTS--Table of Contents
 
Sec. 611.11  Local financial commitment criteria.

    In order to approve a grant or loan under 49 U.S.C. 5309, FTA must 
find that the proposed project is supported by an acceptable degree of 
local financial commitment, as required by section 5309(e)(1)(C). The 
local financial commitment to a proposed project will be evaluated 
according to the following measures:
    (a) The proposed share of project capital costs to be met using 
funds from sources other than the section 5309 new starts program, 
including both the non-Federal match required by Federal law and any 
additional capital funding (``overmatch''), and the degree to which 
planning and preliminary engineering activities have been carried out 
without funding from the section 5309 new starts program;
    (b) The stability and reliability of the proposed capital financing 
plan for the new starts project; and
    (c) The stability and reliability of the proposed operating 
financing plan to fund operation of the entire transit system as planned 
over a 20-year planning horizon.
    (d) For each proposed project, ratings for paragraphs (b) and (c) of 
this section will be reported in terms of descriptive indicators, as 
follows: ``high,'' ``medium-high,'' ``medium,'' ``low-medium,'' or 
``low.'' For paragraph (a) of this section, the percentage of Federal 
funding sought from 49 U.S.C. Sec. 5309 will be reported.
    (e) The summary ratings for each measure described in this section 
will

[[Page 34]]

be combined into a summary rating of ``high,'' ``medium-high,'' 
``medium,'' ``low-medium,'' or ``low'' for local financial commitment.