While the agency awaits a decision from the FTA about the execution of a $647 million funding agreement.
The Full-Funding Grant Agreement with the FTA is the final step in securing the funding needed for the $2.1 billion first phase of the RPM project.
Monies are part of $255 million in federal funds currently available for the Honolulu rail transit project this fiscal year. The project to date has $320 million available in federal funds under the Full Funding Grant Agreement.
Signing is the final step of the FTA’s New Starts federal funding process for new rail systems, and makes available $200 million to the Honolulu rail project for fiscal year 2012.
The total construction cost for two lines is $1.6 billion. Each line is receiving a $450 million FFGA. The federal government has already set aside $484.5 million for the two projects as part of the FFGAs. Of that amount, Metro has received $84.5 million.
SunRail will run along a 61-mile stretch of existing rail freight tracks in Central Florida. The major funding partners for the project are the Florida Department of Transportation, the FTA, Orange, Seminole, Volusia and Osceola counties and the city of Orlando. The first phase, at 31-miles, will serve 12 stations.
Approved the $1.49 billion Portland-Milwaukie Light Rail Project to enter into Final Design. The project can now be developed from its current 30 percent design to 100 percent design. TriMet expects to sign the Full Funding Grant Agreement by mid-2012, moving the project into full construction.
The overall project is expected to generate 60,000 direct and indirect jobs.
The line will provide access to 30,000 University of Washington students and 29,000 faculty and staff, ease congestion along Seattle’s most heavily-traveled north-south corridors and provide better access to the area’s largest urban centers.
When complete, the project will include nine stations, 3,035 park-and-ride spaces, and 28 transit vehicles.
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