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1/4/2022
Rail News: Passenger Rail
USDOT refinances loan for Washington city’s transit-oriented project
The U.S. Department of Transportation (USDOT) Build America Bureau has refinanced a $99.6 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to the city of Bellevue, Washington, for its BelRed Street Network project.
Along with the start of service on Sound Transit's East Link Light Rail, the BelRed Street Network project will serve as a catalyst for the redevelopment of the BelRed neighborhood, helping make it connected, multimodal, pedestrian-friendly and transit-oriented, USDOT officials said in a press release.
The project will add dozens of new and upgraded curb ramps and other pedestrian access improvements in compliance with the Americans with Disabilities Act; and additional sidewalks, bike lanes and bike signals to enhance cycling safety.
The bureau provides TIFIA loans and other surface transportation infrastructure financing to reduce the costs of infrastructure projects.
