An agreement with the U.S. Department of Transportation, pending approval, has been reached to fund Phase 2 of the Dulles Silver Line Rail project, which will extend Metro service from Wiehle Avenue in Reston, Va., to eastern Loudoun County via Dulles International Airport.

The agreement will reduce the cost of the Phase 2 project by hundreds of millions of dollars and keep tolls more affordable for Dulles Toll Road users. The Commonwealth of Virginia has agreed to contribute $150 million to Phase 2 and the project will be eligible for federal assistance under the Transportation Infrastructure Finance and Innovation Act program.

The agreement was reached during a recent meeting between the Department of Transportation, Loudoun and Fairfax counties, the Metropolitan Washington Airports Authority, Washington Metropolitan Area Transit Authority and the Commonwealth of Virginia pending approval from the counties, airport and transit authority boards, which is expected before the end of the year.

The full text of the Memorandum of Agreement can be found here.