PUBLIC TRANSIT: L.A. Metro gets TIFIA loan for new light rail line
Oct. 15, 2012
Los Angeles Mayor Antonio Villaraigosa announced last week that the Los Angeles County Metropolitan Transportation Authority (Metro) had been approved to receive a $545.9 million loan to build a new light rail line. The loan will be made available through the Transportation Infrastructure Finance and Innovation Act (TIFIA).
Los Angeles Mayor Antonio Villaraigosa announced last week that the Los Angeles County Metropolitan Transportation Authority (Metro) had been approved to receive a $545.9 million loan to build a new light rail line. The loan will be made available through the Transportation Infrastructure Finance and Innovation Act (TIFIA).
Metro will use the federal funds to construct the 8.5-mile Crenshaw/LAX line, which will connect the Metro Green Line with the Metro Exposition Line. The goal of the project is to increase connectivity between the downtown area, the Westside and South Bay, along with the cities of Inglewood, Hawthorne and El Segundo.
Project plans also include a new transit vehicle maintenance and storage facility. The entire effort is projected to cost $1.75 billion.
Metro will break ground in late 2013, with an estimated completion date of 2018 or earlier.
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