RTD set to receive $1 billion federal grant to help finish FasTracks
Friday, July 01, 2011 at 1:54 pm
RTD has received word that it will be receiving the largest transit grant yet awarded by the Obama administration–a cool billion dollars from the Federal Transit Administration toward completing the line to DIA and the line north to Arvada and Wheat Ridge. The grant will also help fund a maintenance facility.
Thursday marked the final day of a congressional review of the funding, with no move made to strike or reduce the grant. An official announcement may not be made for a few weeks as officials including Transportation Secretary Ray LaHood try to coordinate their calendars for an award ceremony to be held in the Denver area later this month or in August.
The award, totaling $1,000,030,450 will be doled out over a period of years as the line is built. The grant is expected to cover about half of the total cost of construction, said Pauletta Tonilas, spokesperson for the Regional Transportation District. Tonilas also confirmed the details.
“This is a huge step toward finishing the project,” Tonilas said.