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.
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.
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