Rail

DART awarded $125M TIFIA loan for rail extension

Posted on December 14, 2012

U.S. Transportation Secretary Ray LaHood approved a nearly $120 million loan that will enable Dallas Area Rapid Transit (DART) to advance construction on the third phase of its light rail Orange Line extension project.

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

DART’s $119.9 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan will help finance the $397 million Orange Line Phase III expansion. The 35-year direct loan will be used to fund construction of a key 5.17-mile segment of DART’s 14.5-mile light rail Orange Line.

Once completed, the expanded line will improve east-west connections between DFW and the DART system by connecting to the Green Line that runs through downtown Dallas as well as to other transit services, including commuter rail.

Since 1999, the TIFIA program has helped 30 projects turn $10.4 billion in credit assistance into $41.8 billion in infrastructure investment across America. The new surface transportation law, Moving Ahead for Progress in the 21st Century (MAP-21), transforms TIFIA into the largest transportation infrastructure loan program in history, making available up to $17 billion in credit assistance for critical infrastructure projects.

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

More News

Canadian infrastructure bank possible financing option for U.S.-Canada high-speed line

The Trudeau government’s soon-to-be-launched, $35-billion infrastructure bank will seek to use public funds as leverage to attract billions more in private investment for major infrastructure projects, such as bridges, transit systems, and rail lines.

Joint venture selected to operate new Hartford commuter rail

TransitAmerica Services and Alternate Concepts has been selected as the service provider that will operate and manage service on the CTrail Hartford Line — the passenger rail service currently under construction.

Keolis, MBTA to improve commuter rail ticket checking

Estimates suggest that up to $24 million in uncollected fare could be recovered through a ticket-checking modernization initiative and other tactics.

Metra to install suicide prevention signs

The signs will be developed and finalized as part of a Mental Health Awareness Symposium to be hosted by Metra in September to coincide with National Suicide Awareness Month.

Accident, no shows plague commute for LIRR, NJ Transit passengers

Some NJ TRANSIT trains have been canceled this week because engineers are choosing not to work under the terms of their contract amid the summer-long repair work at Penn Station.

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