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USDOT Launches Innovative Infrastructure Financing Tool to Provide up to Nearly $2 Billion to Seattle Transit Projects

U.S. Transportation Secretary Anthony Foxx 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.  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 was approved through the federal government’s Transportation Infrastructure Finance and Innovation Act (TIFIA) program in the amount of $615.3 million for the Northgate Link Extension project.  See the full press release here.

Updated: Friday, December 23, 2016
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