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

Metra will hold fares steady, budget $2.6B for capital improvements

As it does every year, the agency searched for ways to control or reduce its operating costs to head off the need for a fare increase.

LIRR rolls out newest fleet of railcars

The new cars incorporate and improve upon the most successful and popular features of the MTA’s two recent electric car fleets.

Sound Transit breaks ground on light rail extension

The $2.9 billion project budget includes up to $1.17 billion from a Full Funding Grant Agreement executed by the FTA.

Amtrak completes latest round of Penn Station infrastructure work

Work focused on an estimated $30 million investment in the overall renewal of JO railroad interlocking at the east end of the station.

Calif.'s VTA lands first of its kind FTA funding allocation for rail extension

The funding streamlines project delivery, allowing VTA to fast track its funding process by more than 14 months.

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