I think we are forgetting the lesson we should have learned with the collapse of Fort Worth's streetcar project. While the 50% funding from the Federal government could be attained, the 50% from the local government couldn't - and the main reason why was because the project hadn't and wouldn't have completed the EIS process in time. It wasn't ready to build.
The main reasons why the Dallas project proceeded; local funding was available, another EIS process was already underway and it wasn't difficult to add the streetcar project to it, the route was politically settled upon quickly, and the local neighborhoods wanted it.
We're still arguing over where the first streetcar line in Fort Worth should be built, and how large the streetcar system should be. The local government was not ready then nor is it now. We need to start the project from the beginning, follow the procedural steps a step at a time, define a system and the first route, define where the local funding will come from, complete the EIS, and then ask for Federal funding once all the i's a dotted and the t's are crossed.