X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ST. PAUL – The Federal Transit Administration has agreed to help pay for the Hiawatha Avenue light-rail project, leaving the only one potential stumbling block for the state’s first light-rail line – a 60-day Congressional review. The FTA has sent Minnesota’s application for a full funding grant agreement committing $334 million to the $625 million project to Congress. The line would link downtown Minneapolis, the Minneapolis-St. Paul International airport and the Mall of America in Bloomington.

The Minnesota legislature has specified that $100 million in state funding for the project will be rescinded if the federal agreement is not secured by Jan. 31. Contracts to build the line and the rail cars have been signed contingent upon receipt of the federal funds. In addition to the federal and state funding, the Hiawatha project’s overall budget includes money from Hennepin County and the Metropolitan Airports Commission. The Met Council will own and operate the line.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.