Transit authorities throughout the country are quickly becoming big-time developers…and in more ways than one might have ever thought possible.
The new initiative, “TIFIA 49,” authorizes borrowing up to 49% of eligible project costs for projects that meet certain eligibility requirements, helping more projects get off the ground.
Someone asked me recently if public-private partnerships (P3s) are just a fad or a delivery method that will ultimately be the country’s future. There’s no doubt about the answer. Public-private partnerships are here to stay.
The Bureau issued a NOFO to solicit applications for grants to designate Accelerators that will serve defined geographic areas, provide technical resources, and fund planning and development activities to expedite project delivery.
The package will total $3.84 billion for six projects. It includes a new TIFIA loan for the Downtown Redmond Link Extension, and refinancing of five previously approved loans under improved terms.
Community-focused investments like TOD are integral to the Biden-Harris Administration’s priorities, including connecting communities and reducing the climate impacts of transportation.
Opening in 2024, the route to Federal Way will offer fast, frequent, and reliable service between South King County and Sea-Tac Airport, downtown Seattle, the University of Washington, Northgate, Lynnwood, and Bellevue.
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.
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