The Chicago Regional Transportation Authority (RTA) Board of Directors recently authorized issuance of up to $100 million of 30-year general obligation RTA bonds to finance multiple state of good repair projects to bolster the condition of the region's transit infrastructure.
"State and federal dollars are not sufficient to support our capital needs, so the RTA is using its bonding authority to keep our region in a state of good repair," said RTA Board Chairman John Gates, Jr. "Our region needs approximately $33 billion to bring the existing system to a state of good repair. The RTA is meeting a portion of the need with this bond issuance. The recent favorable reports from the three ratings services only reinforce the importance of the RTA and its ability to benefit the region in this way."
The bonding will fund projects that benefit the region's public transit riders through enhancements to Chicago Transportation Authority, Metra and Pace bus capital assets, specifically tied to state of good repair, in the categories of rolling Stock, track and structure, electric signal and communications and stations and passenger facilities
Qualifying projects would include projects that upon completion would have a useful life of at least 20 years; projects that will reduce the region's state of good repair backlog and projects that replace assets, which fall into the category of "worn" or "marginal" as identified in the Capital Asset Condition Assessment.
In Portland, Ore., TriMet has called upon on the Amalgamated Transit Union (ATU) to represent employees on the issues of wages and benefits before the 150-day statutory bargaining period ends on February 4.
The Metra Board of Directors unanimously selected Donald Orseno, a lifelong railroader who has worked at Metra for more than three decades, as the next executive director/CEO of the Chicago suburban rail agency.
The California Transportation Commission (CTC) has allocated $27 million in new funding to three projects that it says will improve passenger rail and further strengthen the state's economy.
The Metropolitan Council released two draft reports prepared by independent consultants to examine important issues that affect the proposed Southwest light-rail line serving the communities of Minneapolis, St. Louis Park, Hopkins, Minnetonka and Eden Prairie.
The Massachusetts Bay Transportation Authority (MBTA) awarded a $24-million contract to repair and rehabilitate three bridges spanning the Merrimack River in Haverhill to JV: LM Heavy Civil Construction and Cooperativa Muratori & Cementisti – CMC di Ravenna. The bridge work will allow the MBTA to continue to operate safe and reliable passenger rail service on the Haverhill Line.
The Indiana Rail Road Company (INRD) and Pan Am Railways, Inc., have joined the Association of American Railroads (AAR) as new full members.
Charlotte, N.C., City Council approved authorization of $12 million during its January 27 meeting to advance CityLYNX Gold Line Phase 2 project and stay on track to meet current and future goals.
TriMet General Manager Neil McFarlane responded to the release of the Oregon secretary of state's audit, thanking the team of auditors for their diligence during their review of the agency's finances, transparency and operations.
The San Francisco Municipal Transportation Agency (SFMTA) says the Central Subway's second tunnel boring machine (TBM) will soon pass beneath Powell Street Station and the existing Bay Area Rapid Transit (BART) and Muni Metro tunnels, passing under Market Street from SoMa into Union Square.
When the Central Subway opens, the new tunnels will allow T Third Line trains to travel quickly beneath 4th Street and Stockton Street, cutting transit travel times by more than half along this busy corridor.