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

Alstom debuts world's first hydrogen train entering passenger service

The zero-emission Coradia iLint, which debuted in Lower Saxony, Germany, can reach up to 140 km/h (90 mph).

WMATA announces contracting opportunity for Silver Line extension

Under the agency's plan to "Keep Metro Safe, Reliable and Affordable," the use of competitive contracting is recommended as a way to control operating and maintenance costs

Amtrak Pacifc Surfliner, MLB team up for rail safety awareness

Partners with San Diego Padres, Los Angeles Angels and California Operation Lifesaver to highlight the importance of safety around train tracks.

Zmudzinski to lead national rail systems at WSP

Will lead the firm’s transit and rail systems engineering team and support business development across the U.S.

4 teams submit design-build bids for Foothill Gold Line light rail project

Includes technical approach to completing the design and construction of the project, their management method, and financial bid.

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