Metro’s Silver Line Gets Low-Interest Federal Loan
WASHINGTON (AP) — The Transportation Department has committed $1.28 billion toward the construction of Metro’s silver line in the form of a low-interest loan.
Officials announced Wednesday that the loan had been finalized. It will go toward construction of the second phase of northern Virginia’s silver line, which will bring Metro rail service to Dulles International Airport.
The first phase of the silver line opened last month with stops in McLean, Tysons Corner and Reston. The second phase is scheduled to be completed in 2018, at a cost of $2.8 billion.
The Obama administration had already pledged to fund the project with a low-interest loan. The Transportation Department is working to close an additional $600 million in loans to Fairfax and Loudoun counties.
(Copyright 2013 by The Associated Press. All Rights Reserved.)