Rail

Feds commit $1B to Denver commuter rail project

Posted on August 31, 2011

The U.S. Department of Transportation signed a $1 billion funding agreement with the Denver Regional Transit District (RTD) for its Eagle P3 commuter rail project.

The 30-mile two-pronged commuter rail project will significantly expand transportation choices in the greater Denver area, create jobs and cut by nearly half the amount of time it now takes to get from downtown Denver to the airport.

RTD is the first transit agency in the nation to successfully pursue a comprehensive public-private partnership, or P3, that encompasses the design, construction, financing, operation and maintenance of its regional transit projects. The federal funding agreement covers roughly half of the $2 billion cost of the entire project, which is expected to generate roughly 4,700 construction-related jobs in the Denver metro area.

The federal funding agreement clears the way for construction to begin on the western segment of Eagle P3, also known as the Gold Line, which will serve the suburbs of Arvada and Wheat Ridge. The East Line of Eagle P3, which has already begun construction using local funds, will run from Denver's historic Union Station nearly 23 miles east to Denver International Airport and will connect to existing light rail and bus service.

The Eagle P3 project and Denver Union Station's ongoing renovation are part of RTD's far-reaching FasTracks program, a voter-approved, multi-year, multibillion-dollar transit expansion program covering 140 miles of rail and bus corridors that will help Denver to successfully manage growth and compete for business for years to come.

The Federal Transit Administration is the major federal funder through a combination of grants and loans. A consortium of private companies, known as the Denver Transit Partners, is responsible for financing the rest through tax-exempt private-activity bonds issued by RTD and other means.

The entire project is slated for completion in 2016. The new railcars slated for use on the commuter line will be assembled in the U.S. and consist of at least 60 percent U.S.-made components, consistent with the Obama Administration's Buy America requirements.                 

View comments or post a comment on this story. (0 Comments)

More News

Amtrak signs contract with Alstom for new generation, high-speed train

Funding for the trains will come from a $2.45 billion loan via a U.S. DOT railroad rehabilitation program – marking the largest single loan in the agency’s history.

Metra receives final Electric Highliners

Completes 2010's 160-car purchase to outfit the line with a completely new and modern fleet.

Amtrak's microgrid to serve as backup during power outages

In the aftermath of the 2012 Superstorm Sandy, half of the Sunnyside Yard had to rely on portable backup generators for a month due to a damaged transmission line.

Detroit's M-1 begins testing streetcar line

The slow-moving "speeder" vehicle will travel the rail line as part of a testing regimen that ensures the route is free of obstructions.

Honolulu's rail executive director/CEO resigns

Dan Grabauskas will be paid the final year of contract as part of the separation agreement, a total of $282,250. The board appointed HART board member Mike Formby as acting CEO, effective immediately.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close