The Notice sets forth eligibility requirements which include, among others:
• All or part of the project is a new fixed guideway capital project and, with respect to the project, the project sponsor has not entered into a full funding grant agreement or project construction grant agreement with FTA;
• The project sponsor has submitted, with its application to the Pilot Program, a schedule and finance plan for the construction and operation of the project and an analysis of the costs, benefits, and efficiencies of the proposed public-private agreement;
• The public-private agreements are permitted under applicable state law and governing instruments;
• The recipient cannot advance the project without a public-private partnership due to fiscal constraints; and
• If New Starts funding is to be used, then the Alternatives Analysis must be completed.