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Policy updates lift limits on TIFIA loans, letting all transport projects finance up to 49% of costs, aiming for faster, cheaper builds.
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The new initiative, “TIFIA 49,” authorizes borrowing up to 49% of eligible project costs for projects that meet certain eligibility requirements, helping more projects get off the ground.
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The package will total $3.84 billion for six projects. It includes a new TIFIA loan for the Downtown Redmond Link Extension, and refinancing of five previously approved loans under improved terms.
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The agency will strike a $790 million FFGA, along with a $629 million TIFIA loan to complete the Federal Way line light rail extension.
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The Moynihan Train Hall will benefit the entire North East Corridor service area, as two-thirds of all NEC rail trips currently pass through Penn Station.
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The new vehicles will help meet growing ridership demand and improve security with up-to-date technology. Modernizing CTA’s rail fleet also will improve the reliability of transit service and give passengers a smoother, more comfortable ride.
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Rather than an analysis of statistics on quantifiable mishaps, such as accidents, fires or switch failures, a new report attempts to gauge NJ TRANSIT’s attitudes, policies and procedures through a combination of employee surveys and inspector observations in the field.
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Significant upgrades to the track, power supply, and signal system along the 19-mile stretch of the Blue Line between the Loop and O’Hare Airport stations will reduce and eliminate “slow zones,” resulting in faster, more reliable service.
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The most commonly found organism (46.9%) was bacteria. Despite some riders' fears of catching cold or flu from fellow straphangers, viruses were rare — they made up .032% of the samples. However, some seasonal viruses are RNA viruses, not DNA viruses, and they would not be identified with the collection methods used in the study.
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When combined with the $1.278 billion TIFIA loan to the Metropolitan Washington Airports Authority that closed in August, the U.S. Department of Transportation has provided $1.87 billion in TIFIA loans to support the construction of Phase Two, which represents the largest TIFIA assistance for a single project in the program’s history.
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