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The $1.6 billion budget includes $654.5 million in net operating funds and $909.2 million for capital programming.
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The vehicle represents a milestone for Pace’s Project Zero plan for the transition to a zero-emissions fleet by 2040.
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The projects will be funded as part of NVTC's I-66 Commuter Choice program, which reinvests toll revenues into projects that demonstrate the ability to move more people through two of Northern Virginia's most traffic-congested corridors.
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The Federal Transit Administration has about $4.5 billion available in 2024 for transit projects of all types. This includes bus rapid transit projects, light rail, and commuter rail initiatives.
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Federal funding has been important in enabling the MTA to advance ADA upgrade projects.
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The project includes a series of “firsts” for Valley Metro and the community, including the first elevated station, rail-only bridge over I-17, and a multimodal transit center named after regional transit champion, former Phoenix Mayor, and Councilmember Thelda Williams.
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The annual POLIS mobility conference was held in Leuven, Belgium Nov. 29 to 30. The conference is the largest event held by the Brussels-based POLIS group, which is composed of cities and regions, as well as some corporate partners from across Europe, promoting sustainable transport solutions.
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Transit-oriented development has taken on a new life since the COVID-19 pandemic, offering ways to reduce greenhouse gas emissions and provide access to different activities in the area.
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The budget gap is a result of several factors, including lower ridership revenue that is still recovering from the pandemic, the depletion of federal pandemic relief funds, a subsidy credit provided to jurisdictions in 2020, and historic inflation.
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The 2024 budget comes nearly a year after the release of the new regional transit strategic plan, “Transit is the Answer,” which was adopted in February.
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