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United States Department of Transportation United States Department of Transportation

Federal Way Link Extension

Map of project area
Project Type
Public Transit
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Central Puget Sound Regional Transit Authority
Project Description

The Project consists of the construction a 7.8-mile extension of Sound Transit’s light rail network from the Angle Lake Station to the Federal Way Transit Center in south King County. The Project will operate as the southernmost segment of the Sound Transit’s north-south light rail line and offer connections to numerous local and regional bus lines, including some of the region’s bus rapid transit lines. It will serve population, employment and education centers and provide opportunities for transit-orientated development.

Operating in an exclusive right-of-way, the Project generally parallels Interstate 5 on an elevated or at grade alignment.

The Project will include construction of three new stations, and 1,200 new parking spaces. The Project also includes the purchase of 20 new light rail vehicles (“LRVs”), as part of a planned 122 LRV purchase program by the Applicant, as well as train control and signals, communications, traction power supply and distribution, and fare collection systems and equipment.

Project Details
TIFIA Assistance
$629.50M
Primary Revenue Pledge
Tax Revenues
Project Cost
$3000.00M
Fiscal Year Closed
FY2020
Duration/Status
Commercial close expected by mid of December 2019. Construction will commence post financial close. Substantial completion expected in November 2024.
Funding Sources
PAYGO: $1,400.7 million
FFGA proceeds: $790.0 million
TIFIA loan: up to $629.5 million
Senior (Parity) Bonds: $154.7 million
Other Federal Grants: $33.4 million
Project Delivery/Contract Method
Sound Transit’s Design, Engineering, and Construction Management Department is principally responsible for the final design and construction of all major capital projects. For this project they will use one design build-contract.
Project Participants
Pubic Sponsor: Central Puget Sound Regional Transit Authority Construction. DB contractor: Kiewit Infrastructure West. LRV supplier: Siemens. Operator: King County Metro
Project Advisers/Consultants
To Borrower:
• Financial Advisor: Piper Jaffray
• Legal: Foster Pepper

To USDOT Build America Bureau:
• TIFIA Financial Advisor: JLL (formerly Scully)
• TIFIA Legal Advisor: Shearman and Sterling, LLP
Project Lender
USDOT
Credit Assistance Detail
Direct loan: Up to $629.5 million. The TIFIA loan will be repaid with voter approve taxes (sales/use, rental car, and motor vehicle taxes)
Financial Status
TIFIA Credit Agreement signed in December 2019
Innovations
Design Build (DB)
Application Details
Applicant
Central Puget Sound Regional Transit Authority
Credit Agreement Executed
Estimated Project Cost
$3000.00M
TIFIA Request
$629.50M
Instrument Type
Direct Loan