The California High-Speed Rail Authority will delay until at least Nov. 1 the release of updated financial projections for the embattled project, saying new board members need more time to review the plan.
"The California High-Speed Rail Authority has put together an extensive business plan that comprehensively addresses the future of this project," rail board Chairman Tom Umberg said in a release this morning. "At the same time, we have new appointees to the Board who weren't able to be a part of its development. This postponement will provide them the necessary time to participate."
The authority, facing criticism about he project's management and cost, planned to release a business plan in mid-October. It said the delay will not affect the project's schedule.
Gov. Jerry Brown this summer appointed former bank executive Michael Rossi and former Brown adviser Dan Richard to the rail board. Brown said he was seeking to help the authority "get their act together."
"I look forward to having these extra two weeks to delve into the business plan - which numbers in the hundreds of pages - and take a close look at the funding, ridership and implementation information it presents," Richard said in a release. "Governor Brown, the Legislature and all Californians will be well-served by a plan that lays the foundation for the future of this sorely needed transportation option."