Sound Transit receives $87.7 million loan for light rail maintenance facility

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SEATTLE — Sound Transit will build a new maintenance facility in Bellevue, Wash., with a low-interest loan from the federal government. The $87.7 million loan is from the U.S. Department of Transportation at a 2.7-percent interest rate.

It is the agency’s second loan under a $1.99-billion master credit agreement approved by the federal government in December 2016 through the Transportation Infrastructure Finance and Innovation Act.

According to Sound Transit, the low-interest loans will reduce regional taxpayers’ costs in building the maintenance complex. The credit agreement, which is helping to support four Sound Transit projects, is expected to save taxpayers between $200 million and $300 million.

The 25-acre operations and maintenance facility in Bellevue is needed to support future light rail expansion, according to the agency. By 2024, the system will grow from 22 to 62 miles and the existing light rail fleet will more than triple in size, from 62 to 214 vehicles. The current maintenance site in Seattle can store and maintain at least 104 light rail vehicles.

The new facility will be designed to maintain, store, and deploy an additional 96 light rail vehicles.

NEWSWIRETrains News Wire

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