USDOT Launches Innovative Infrastructure Financing Tool to Provide up to Nearly $2 Billion to Seattle Transit Projects
U.S. Department of Transportation sent this bulletin at 12/22/2016 04:32 PM EST |
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WASHINGTON - U.S. Transportation Secretary Anthony Foxx today announced that four transit projects in the Seattle area could receive up to nearly $2 billion in financing through an innovative infrastructure financing tool created by the Department of Transportation’s Build America Bureau.
On Thursday, the Central Puget Sound Regional Transit Authority (Sound Transit) and the Build America Bureau (Bureau) signed a Master Credit Agreement (MCA) – a first-of-its-kind arrangement in which the local transit authority will be able to expedite multiple loan requests under a single agreement with the federal government. The first of those loans, $615.3 million for the Northgate Link Extension, also closed today.
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