Durham-Orange light rail one step closer to billions in federal dollars

[TexasTowelie]

DURHAM -- Questions about whether federal budget discussions would halt the $2.47 billion Durham-Orange light-rail transit project were answered Friday.

The Federal Transit Administration approved moving the 17.7-mile light-rail project into the engineering phase — the last design piece before learning whether the counties could get 50 percent of the project’s funding by 2020 from the federal government.

“Today marks an important step forward for the Durham-Orange Light Rail Transit project and our region’s transportation future,” said U.S. Rep. David Price, D-N.C. “I will continue working to ensure the federal government remains an active partner in this effort.”

The final federal decision also depends on the project getting up to 10 percent of its funding from the state and the remaining 40 percent from regional partners — roughly $890 million, plus interest on short- and long-term debt. GoTriangle plans to repay the debt through 2062.

Read more here: http://www.heraldsun.com/news/local/counties/orange-county/article164214762.html