{"id":6646,"date":"2022-03-29T14:29:35","date_gmt":"2022-03-29T19:29:35","guid":{"rendered":"https:\/\/www.mnrtap.us\/?p=6646"},"modified":"2022-03-31T15:59:50","modified_gmt":"2022-03-31T20:59:50","slug":"transportation-secretary-buttigieg-recommends-nearly-4-5-billion-to-move-new-and-expanded-public-transit-services-forward-and-lower-financing-costs","status":"publish","type":"post","link":"https:\/\/www.mnrtap.us\/transportation-secretary-buttigieg-recommends-nearly-4-5-billion-to-move-new-and-expanded-public-transit-services-forward-and-lower-financing-costs\/","title":{"rendered":"Transportation Secretary Buttigieg Recommends Nearly $4.5 Billion To Move New and Expanded Public Transit Services Forward and Lower Financing Costs"},"content":{"rendered":"

Transportation Secretary Buttigieg Recommends Nearly $4.5 Billion To Move New and Expanded Public Transit Services Forward and Lower Financing Costs<\/h2>\n

Published on: <\/strong>March 29, 2022<\/em><\/p>\n

U.S. Transportation Secretary Pete Buttigieg today announced the Department is recommending $4.45 billion both to advance seven new rail and bus rapid transit projects for first-time funding and to continue funding for eight projects with existing construction grants in Fiscal Year (FY) 2023. These projects, which require a local match, competed for funding through the Federal Transit Administration\u2019s Capital Investment Grants (CIG) Program and Expedited Project Delivery (EPD) Pilot Program. The transit projects create and sustain construction and operations-related jobs and help communities provide better, more frequent transit service.<\/p>\n

In addition to recommending projects for FY 23 appropriations, FTA\u2019s FY 2023 Annual Report on Funding Recommendations<\/a> identifies projects that will receive funding through the CIG and EPD Pilot Programs for Fiscal Years 2022 and 2023 under President Biden\u2019s Bipartisan Infrastructure Law, as well as funding provided in Fiscal Year 2022 through the Consolidated Appropriations Act. Through this combination of FY 2022 and FY 2023 funding, FTA can accelerate payments to projects, completing the Federal commitment for 25 projects. This will not only result in lower financing costs incurred on projects but will also help meet demand by freeing up funds for additional new projects. In the last year alone, there has been a 150% increase in the number of projects entering the programs.<\/p>\n

The CIG Program<\/a> and EPD Pilot Program<\/a> are the Federal government\u2019s primary grant programs supporting transit capital projects that are locally planned, implemented, and operated. The programs provide funding for investments such as new and expanded subway systems, commuter rail, light rail, streetcars, bus rapid transit, and ferries, as well as corridor-based BRT investments.<\/p>\n

FTA\u2019s Annual Report on Funding Recommendations for the Fiscal Year 2023 CIG and EPD Pilot Programs, including links to individual project profiles, is available on FTA\u2019s website<\/a>.<\/p>\n

Links:<\/p>\n

FY 2023 Annual Report on Funding Recommendations<\/a>
\nCapital Investment Grants Program<\/a>
\nExpedited Project Delivery Pilot Program<\/a>
\nPress release<\/a><\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

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