They discarded the Rapid Bus and now are doing the EIS with either rapid streetcar or bus with system management. The best part about the streetcar is that the Tri-Met Capital funding coffers wouldn't even receive a small dent due to the fact that the ROW is worth so much. If they get a federal match, the ROW would be worth $75 million and the FTA could possibly take care of the rest of the total cost.
This would be the first modern application of the Rapid Streetcar idea. It would connect to the City of Lake Oswego to the South Waterfront Streetcar while using the same vehicles.