The project will serve a dense suburban corridor where the existing roadway network is constrained and travel options are limited to two congested roadways.
The agency will strike a $790 million FFGA, along with a $629 million TIFIA loan to complete the Federal Way line light rail extension.
Sophie Guiny joins the team as an exceptionally accomplished transportation infrastructure funding and financing expert and will be based in the Washington, D.C. office.
Will address the challenges by assisting stakeholders in understanding how to access grants and financing products and developing data-driven approaches to solve issues.
The light rail line will make travel across Montgomery and Prince George’s counties faster and more reliable for thousands of Maryland residents, improving access to major business and activity centers in the state’s most populated counties.
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.
The credit agreement is the first of its kind in the nation in supporting four separate Sound Transit projects. It is expected to yield regional taxpayers long-term savings of between $200 million and $300 million in reduced borrowing costs.
The USDOT Build America Bureau and the City of Chicago are entering into an EmPA agreement, under which Chicago can work closely with USDOT with the ultimate goal of seeking up to $1 billion in federal funding for the project.
Coupled with Metro’s $747 million local match made possible by 2008’s Measure R sales tax, $2.4 billion is now secured to continue construction of one of L.A. County’s most critically needed public transit projects.
The newly created entity within the U.S. DOT streamlines access to federal credit and grant opportunities while providing technical assistance to project planning, financing, delivery, and monitoring.