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Understandings: <br />1. The FAST Corridor projects listed in Attachments A and B will improve access to <br />port areas and resolve modal conflicts at railroad grade crossings and will <br />complement investment by the railroads, Sound Transit and the State to improve <br />the overall capacity and reliability of the mainline rail corridor for both freight and <br />passenger operations. The FAST program of improvements will also enhance <br />the capacity and reliability of the highway freight transportation corridors in the <br />region. <br />2. The FAST Phase I projects (Attachment A) are deemed to be the highest priority <br />of the FAST Corridor projects. The Projects shown in Attachment B, ten <br />additional projects selected in April 2002 for implementation over the next three <br />years, constitute `FAST Phase II.' These are immediate priority projects, but <br />subordinate to the Phase I projects. All prioritized projects are to be considered <br />collectively as a single "corridor" program. <br />3. For the FAST Phase II program, the partners endorse the following funding <br />participation goals: <br />a) Federal funding through TEA 21, section 1118 (and its successor(s)) <br />grants should provide 35 percent of the program costs. Additional federal <br />funding (e.g., STP grants) will be targeted to provide another five percent <br />of program costs. <br />b) State funding, including WSDOT, FMSIB, and TIB contributions, should <br />provide 40 percent of program costs. It is recognized that the trucking <br />community contributes to this share through the fees and fuel taxes they <br />pay into the system. <br />c) The Ports of Seattle and Tacoma should collectively be responsible for <br />seven percent of program costs. <br />FAST Corridor 2002 MOU <br />-4— <br />