Massachusetts Gov. Deval L. Patrick ’78 announced on Friday that $437.9 million from President Obama’s stimulus package is targeted for state transportation projects.

According to a press release on Patrick’s official Web site, approximately $153 million of that amount will be given to “shovel-ready” highway and transit projects advertised for bid within the next 120 days. Shovel-ready projects are those that already have all requisite approvals and permits in place.

For Cantabrigians, this could mean a new $36 million pedestrian bridge from North Point Park in Cambridge to Paul Revere Park in Charlestown, a highway project identified by the state as eligible for federal funding.

The press release also said that $319 million in funds will go toward the Regional Transit Authorities and the Massachusetts Bay Transportation Authority for projects like Green and Silver Line enhancements, station repairs, and facility upgrades.

Local projects that are awaiting a decision on federal funds include the construction of a new elevator in the Harvard T station, which would cost $7.7 million, and a 30,000 sq. ft. skate park in East Cambridge with a price tag of $1.8 million.

According to Patrick’s Massachusetts Recovery and Reinvestment Plan Web site, no decisions have been made yet regarding which of these projects will receive federal funding. As of Feb. 23, the state has compiled more than 3000 shovel-ready projects that might get money.

Projects from Cambridge that continue to await judgment regarding shovel-ready status include the renovation of Cambridge Rindge and Latin High School and fire safety improvements for City Hall.

“This is a work in progress,” said State Representative Alice K. Wolf. “Right now there are lists of projects that have had prior approval to be shovel-ready, but there’s still going to be another level of approval.”

Cynthia M. Roy, spokeswoman for the state’s Office of Administration and Finance, said that the selection of specific projects to receive funding will be based on a number of factors, including the number of jobs created, long term economic benefits, and sustainable development principles.

In addition to transportation funding, Massachusetts is in line to receive between six and nine billion dollars over the next two years for education, health care, public safety, housing, and other programs.

On Friday, President Obama announced that Massachusetts will receive $40.7 million for law enforcement assistance and crime prevention programs, including $246,068 for the City of Cambridge.

According to Patrick’s Web site, the federal stimulus money will not be distributed as a lump sum. Some of the money will be directed through existing state or municipality programs, while other funds will flow directly to individuals, families, and businesses in the form of tax cuts and credits.

But Wolf—who said that she is anxious about funding for essential services like education and healthcare—said that she viewed this method of funding as “fragmented.”

“It’s like putting together a jigsaw puzzle, but we don’t know what the end looks like,” Wolf said.

In December, Patrick established 10 task forces to prepare Massachusetts for the receipt of stimulus funding from the $787 billion American Recovery and Reinvestment Act. Signed into law in February, the bill is designed to jump-start the economy and create or save jobs.

“The stimulus package will help enormously,” said Patrick in a testimony to the State’s Ways and Means Committee last week, “But it will not close our budget gap.”

In order to address the state’s current $1.1 billion shortfall, Patrick said the state needs new sources of revenue—such as a proposed increase in the gas tax—and budget cuts.

­—Staff writer Liyun Jin can be reached at ljin@fas.harvard.edu.