Thursday, May 2, 2013

Silver Line Update: Supervisors Hoping for Savings with Federal Loan

The Ashburn Patch reports today that during a presentation Wednesday about the second phase of Metro's Silver Line came news that the project appears to be nearing final approval for a federal loan that will save Loudoun millions and concerns about potential development on Dulles International Airport property.  
Last month, bids came in for the bulk of the project and the Metropolitan Washington Airports Authority, the entity tasked with constructing the project, indicated it would likely chose a $1.18 billion bid by Capital Rail Constructors, which includes Clark Construction Group and Kiewit Infrastructure South. That bid was lower than the anticipated $1.4 billion to $1.6 billion cost.
Loudoun County's share of the project equals 4.8 percent of the total project, including phase one. In addition, Loudoun is attempting to find a private partner to construct three parking garages, estimated to cost $130 million.
Patch reports that the county has set aside $300 million in its capital improvement plan to pay for the project and a federal TIFIA loan could mean lower interest rates and a much lower overall cost during the life of the loan.
Read the complete Ashburn Patch article by Dusty Smith.


No comments:

Post a Comment