Tuesday, February 03, 2015

Breaking News - $75 million Federal Grant for Tacoma Link Expansion in 2016 Budget Proposal

Sound Transit just announced that the The Tacoma Link may be receiving a $75 million federal grant in fiscal year 2016. This comes as great news for local downtown businesses who want the Tacoma Link to grow and facilitate ridership to the downtown corridor. Easier access means economic growth for our region.This federal grant, also known as the Small Starts grant would act as a supplement to local tax revenues and other grants needed for construction of the 2.4 mile light rail expansion.

The Obama Administration proposed this federal grant supporting $74.99 federal funding and would provide the single largest funding for extending the Tacoma Link light rail line.Although, it does not end there this budget must next be approved by Congress. In 2008 voters approved the expansion of Tacoma Link in the 2 ballot measure and the Sound Transit Board has been diligently coalition building. 

Currently Sound Transit and the City have worked together to secure $13 million in grants for the City's contribution to the project. The 2.4-mile voter approved expansion requires approximately $75 million in Small Starts funding, $50 million in ST2 revenues, and $40 million from the City of Tacoma who is a key partner in the project. This alignment would expand the Tacoma Link from the Theater District to the Stadium and Hilltop districts with seven proposed stations. The Board is scheduled to review a final alignment and station locations this spring. 

No comments:

Post a Comment