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Yesterday, the Metropolitan Washington Airports Authority released a preliminary engineering cost estimate for the second phase of the Dulles International Airport rail project at $2.7 billion, down from the $3.8 billion estimate obtained a year ago.

The project’s second phase calls for the construction of 11.4 miles of rail through the corridor to Dulles and Loudoun County, Va.

The lower estimate resulted from eliminating an underground station at Dulles, “value engineering savings,” and agreements with Loudoun and Fairfax counties to build the parking garages and Route 28 Metrorail station, said Jack Potter, president and chief executive officer of the airports authority, in a prepared statement.

“With this release, the 90-day review period for Fairfax and Loudoun counties begins,” he said, adding that the review period will end on June 4.

Upon the counties’ confirmation of their commitment to the project, the authority will begin the procurement process for the design and construction of the rail line, including six stations, said Potter.