Passenger Bus, Rail and Motorcoach Industry News

The extension, which will connect Irving, Texas, with Dallas Fort Worth Airport, is part of a long-term effort to create a 90-mile light rail network by 2014 to serve the Dallas metropolitan area.

The agency will use the TIFIA loan to advance construction of a 8.5-mile light rail line and at least six new transit stations with off-street parking.

He also announced the establishment of the Project Finance Center to help state and local government project sponsors analyze financial options for highway, transit, rail, intermodal and other surface transportation projects facing funding challenges.

The program provides Federal credit assistance to nationally or regionally significant surface transportation projects, including highway, transit and rail.

Will use loan to fund a portion of its contribution to the project and will begin drawing on the funds in 2013. In addition to FTA's contribution to the project, a consortium of private companies, known as the Denver Transit Partners, is responsible for financing around 24% of the project through tax-exempt private-activity bonds issued by RTD, equity contributions and other means.

The project is funded with a unique financing structure and for the first time combines credit assistance from both the RRIF and TIFIA programs.

Transportation elements include an underground bus terminal with 22 bays, a light rail station for current and future light rail routes, a commuter rail station that will serve Amtrak and possibly a ski train, and public plazas to integrate transit service.

The three components of the project - replacing the outdated Transbay Terminal with a modern transit hub; extending the Caltrain rail line 1.3 miles into the heart of the Financial District; and redeveloping the area surrounding the Transbay Transit Center with 2,600 new homes (35 percent affordable), parks and a retail main street - will help to return San Francisco to a culture of mass transit.