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U.S. Transportation Secretary Ray LaHood has announced that an agreement, pending approval, has been reached to fund the second phase of the Dulles Silver Line Rail project, which has been proposed to extend rail service from Wiehle Avenue in Reston, Va., to eastern Loudoun County via Dulles International Airport in Chantilly, Va.

The agreement will reduce the Phase 2 project cost by “hundreds of millions of dollars,” and “keep tolls more affordable” for Dulles Toll Road users, LaHood said in a prepared statement.

Virginia has agreed to contribute $150 million to Phase2; the project will be eligible for federal assistance under the Transportation Infrastructure Finance and Innovation Act, he said.

The agreement was reached Nov. 10 between the U.S. Department of Transportation, Loudoun and Fairfax counties, the Washington Metropolitan Area Transportation Authority, the Metropolitan Washington Airports Authority, and the Commonwealth of Virginia. The agreement still must be approved by the boards of the counties, airport and transit authority.