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USDOT finalizes $1.76 billion TIFIA loan for Maryland Purple Line project
Maryland Department of Transportation (MDOT), Maryland Transit Administration (MTA) and Purple Line Transit Partners, LLC (PLTP), have closed on a new $1.76 billion Transportation Infrastructure Finance and Innovation Act (TIFIA) loan through the U.S. Department of Transportation’s (USDOT) Build America Bureau.
The loan for the 16.2-mile Purple Line Light Rail Transit Project in Maryland was originally announced in early March and replaces a previous TIFIA loan that closed in 2016.
“The much-anticipated Purple Line will serve areas that will benefit from associated economic development, while creating opportunities for transit-oriented development,” said Build America Bureau Executive Director Morteza Farajian. “We worked closely with our partners to finalize this loan, which is an essential piece of the financing to move this critical project forward.”
The new TIFIA loan will finance up to 33 percent of the $5.9 billion in eligible project costs for the 21-station line that will connect Bethesda in Montgomery County to New Carrollton in Prince George’s County. ................(more)
https://www.masstransitmag.com/rail/article/21264364/usdot-finalizes-176-billion-tifia-loan-for-maryland-purple-line-project