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Old Posted Sep 1, 2011, 2:33 AM
CastleScott CastleScott is offline
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Join Date: Jan 2010
Location: Sacramento Ca/formerly CastleRock Co
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Heres some good news on the East and Gold line corridors:

Feds announce funding for Denver rail lines
The Associated Press
Posted: 08/31/2011 06:46:20 AM MDTUpdated: 08/31/2011 05:59:03 PM MDT


RTD and the Denver Union Station in August 2011. (The Denver Post | RJ Sangosti)ARVADA, Colo.—U.S. Transportation Secretary Ray LaHood has signed an agreement committing $1.03 billion in federal funds for two planned light rail lines in Denver.
One line will link downtown to Denver International Airport. The other will link downtown to the northwest suburbs of Arvada and Wheat Ridge.

The $1.03 billion award that LaHood announced Wednesday is the last piece of funding needed for the $2.1 billion Eagle P3 project, which includes both light rail lines and is part of the FasTracks program to expand transit in the Denver area. Local funds and privately arranged financing are funding the rest of Eagle P3.

The announcement comes as President Barack Obama is making a push for spending on infrastructure as a way of keeping construction employees at work.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

Transportation Secretary Ray LaHood was in Colorado on Wednesday to announce $1.03 billion in federal funds for two planned light rail lines in Denver.

One line will link downtown to Denver International Airport, and the other will link downtown to the northwest suburbs of Arvada and Wheat Ridge. Both are scheduled to be ready for service in 2016.

The $1.03 billion federal award is the last piece of funding needed for the $2.1 billion Eagle P3 project, which includes both light rail lines and is part of the Regional Transportation District's FasTracks program to expand transit in the Denver area. Local funds and privately arranged financing are funding the rest of Eagle P3.

Among those expected to attend the announcement Wednesday were Federal Transit Administration Administrator Peter Rogoff, along with Gov. John Hickenlooper and Reps. Diana DeGette​ and Ed Perlmutter.

President Barack Obama made a push Wednesday for spending on transportation projects and other infrastructure as a way of keeping construction employees at work. A jobs plan that he plans to reveal to a joint session of Congress next week is expected to include proposals for infrastructure spending.

Costs for the overall FasTracks project are estimated at about $6.8 billion, or about $2 billion more than what had been presented to voters in 2004. RTD officials have blamed the increase in part on rising costs for material, labor and rights of way, and some changes in project plans. Meanwhile sales tax revenues to support FasTracks have been lower than expected.

The district's board has decided to wait until at least 2012 to ask voters in the eight-county district to approve a sales tax increase to help fund FasTracks. However, district officials have said a tax increase will be needed soon if FasTracks is to be completed by 2020. Otherwise, the district has said, it won't be fully completed until 2042.




Read more: Feds announce funding for Denver rail lines - The Denver Post http://www.denverpost.com/ci_18794967#ixzz1WfEOFo1k
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Last edited by CastleScott; Sep 1, 2011 at 1:34 PM.
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