[Code of Federal Regulations]

[Title 49, Volume 4]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 49CFR268.21]



[Page 855-856]

 

                        TITLE 49--TRANSPORTATION

 

       CHAPTER II--FEDERAL RAILROAD ADMINISTRATION, DEPARTMENT OF 

                             TRANSPORTATION

 

PART 268_MAGNETIC LEVITATION TRANSPORTATION TECHNOLOGY DEPLOYMENT 

PROGRAM--Table of Contents

 

              Subpart B_Procedures For Financial Assistance

 

Sec. 268.21  Down-selection of one or more Maglev projects for further 

study and selection of one project for final design, engineering, and 

construction funding.



    (a) Upon completion of Phase III of the Maglev Deployment Program, 

FRA will down-select one or more projects to complete additional 

environmental studies, investment grade revenue forecasts, and other 

studies and analyses necessary prior to initiation of construction. 

Final design and engineering work will also be initiated for the down-

selected project(s). To be down-selected a project must appear to meet 

the project eligibility standards contained in Sec. 268.11 (b), rate 

highly in the project selection criteria specified in Sec. 268.17, be 

judged by FRA to have a good chance of being constructed with the 

Federal funds authorized for this program, and be successfully operated 

by a public/private partnership.



[[Page 856]]



    (b) Only one project will be selected in Phase IV of the Maglev 

Deployment Program and be eligible for any Federal construction funds 

that Congress chooses to make available. That one project must meet each 

and every project eligibility standard contained in Sec. 268.11 (b). If 

more than one project down-selected in Phase III and funded through 

Phase IV meets all of these standards, then FRA will evaluate and 

compare the eligible projects according to the set of project selection 

criteria contained in Sec. 268.17.

    (c) In reviewing competing projects under the project eligibility 

standards and project selection criteria, the FRA will exercise 

particular vigilance regarding the following elements of the 

preconstruction planning process, although not to the exclusion of 

others:

    (1) The credibility of the demand and revenue forecasts, cost 

estimates, and benefit/cost comparisons; and

    (2) The credibility of the financial plan.

    (d) FRA intends to make periodic reviews of the processes and 

products of grant recipients. Such reviews may include, at the FRA's 

option, reviews at key milestones in the preparation of project 

descriptions.