The U.S. Department of Transportation announced Thursday that it would provide up to $1.76 billion in low-interest loans for the Purple Line Light Rail Transit Project in Maryland.
The loan is part of the Build America Bureau program and will be awarded to the Purple Line Transit Partners to finance up to 33 percent of the $5.9 billion in project costs.
“The Purple Line will provide faster, more direct, and more reliable transit service for the suburban Maryland and DC region’s residents and visitors while easing congestion on local roads,” said Deputy Transportation Secretary Polly Trottenberg. “By cutting an estimated 17,000 vehicle trips each day and operating using electric power, this project has tremendous environmental benefits as well.”
