The FTA press release states, "Officials estimate the project will serve 24,600 transit trips every weekday..."
"Trip" being one way fare, so it is safe to assume the ridership they are actually talking here is 12,300 riders every day.
$1.04B for 12,300 riders... that is about $84,500 per person.
By the time this project is done, with changeorders and more FTA grant money being thrown at it, I think it might be more affordable to just give out 12,000 Lamborghinis.