Tuesday, August 06, 2013

Purple Line is Maryland's first transit P3; receives additional $400 million

Nearly $650 million was released in transportation investment funds for Montgomery County, Md., along with an additional $400 million for the $2.5-billion Purple Line project, which will be delivered as the state's first transit public-private partnership (P3).

 

"Today's announcement creates more than 9,700 jobs for Montgomery County, reduces traffic congestion and revitalizes communities, said Maryland Gov. Martin O'Malley.

"I fought hard to pass Maryland's P3 law so that we could create jobs by moving ahead with important projects like the Purple Line," said Lt. Governor Anthony Brown. "By working with the private sector to deliver the Purple Line, we're making an investment to support our growing economy, create thousands of jobs and expand opportunities in our communities. Today's Purple Line announcement marks the launch of the first P3 project under our new law, however I look forward to exploring the possibility of more public-private partnerships in the future."

In addition to the $400 million investment, $280 million was allocated to complete right-of-way acquisition and final design for the Purple Line, totaling $680 million.

The Purple Line is a 16-mile light-rail link between Bethesda in Montgomery County and New Carrollton in Prince George's County. It will provide connections to Metrorail, MARC Train, Amtrak and local bus routes.

 

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