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USDOT OKs early step in Dulles Metrorail project's TIFIA loan application

The U.S. Department of Transportation's (USDOT) TIFIA Credit Council has given preliminary approval for the Dulles Corridor Metrorail project to move forward on a $1.9 billion federal loan, Virginia's congressional delegation announced late last week.

The USDOT's Transportation Infrastructure Finance and Innovation Act (TIFIA) program provides federal credit assistance to finance major surface transportation projects that are considered of national and regional significance. Now that the USDOT has approved the Dulles Metrorail project's creditworthiness, the next step will be for the project's partners —  Fairfax and Loudoun counties, and the Metropolitan Washington Airports Authority — to submit final paperwork for TIFIA loan approval, which can be expected later this year, according to a press release issued by U.S. Sen. Mark Warner (D-Va.).

The Dulles Metrorail project involves the construction of a 23-mile extension of the existing Metrorail system from East Falls Church to Dulles International Airport and beyond into Loudoun County.

“Rail to Dulles is one of the nation’s most significant infrastructure projects, and this project is key to the future economic growth and expanded economic opportunity for northern Virginia," Warner said.

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More News from 2/25/2014