The possibility of insolvency grew sharply when the Federal Railroad Administration said last month it would terminate a $929-million grant to the project and was looking at ways it could recover $2.5 billion in another grant that has already been spent. The federal agency said the rail authority is not making adequate progress to meet a 2022 deadline to complete 119 miles of construction in the Central Valley. Indeed, the rail authority’s own documents show that the Fresno section has a completion date set for this summer even though it is far from finished.

Source: Los Angeles Times March 03, 2019 12:56 UTC