TIFIA

Purple Line Extension secures $1.25-billion federal New Starts grant and $856-million federally-backed loan

Officials from Metro and the Federal Transit Administration signed a pair of agreements this morning in Washington D.C. for a $1.25-billion federal grant and a $856-million federally-backed loan to build the first phase of the Purple Line Extension subway under Wilshire Boulevard. We’ll post video of this morning’s event later. The agreements clear [continue reading]

Measure R committee OKs recommendation to advance TIFIA loan financing for Regional Connector Project

The Measure R Independent Oversight Committee this morning approved Metro’s financing plan aimed at securing $160 million in federal Transportation Infrastructure Finance and Innovation (TIFIA) loans for the Regional Connector project. The committee, which is charged with reviewing the cost-effectiveness of financing Measure R projects, determined this type of federal [continue reading]