New funding update for Caltrain will come on Wednesday 

Caltrain needs to identify just $3.5 million — a far cry from the $30 million hole it once faced — to prevent any service reductions, fare increases or station closures.

Where that money will come from could become clearer next week, when the Metropolitan Transportation Commission, the region’s lead planning body, meets to discuss updates to Caltrain’s financial situation.

The MTC has worked with Caltrain to find short-term funding goals for the agency, to stabilize it before a long-term strategy can be identified.

On Wednesday, the MTC’s programming and allocations committee will convene to present new updates on potential funding solutions for Caltrain.

Caltrain’s board of directors delayed a vote Thursday on their budget balancing plans, with the hope that the $3.5 million could be identified before its next scheduled hearing on April 21.

wreisman@sfexaminer.com

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Will Reisman

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