SEATTLE – Sound Transit will receive a $154 million loan to finance the South Sounder Access Improvement Project, including construction of new parking garages at three Sounder commuter rail stations: Puyallup, Sumner, and Auburn, Wash.
The loan comes from the U.S. Department of Transportation’s Railroad Rehabilitation and Improvement Financing (RRIF) program created in 1998 to provide direct loans and loan guarantees to finance development of railroad infrastructure. Reforms to the program as part of Bipartisan Infrastructure Law included making it easier for commuter railroads to access funding for improvements around stations. The loan will reduce Sound Transit’s debt service payment by at least $53 million through 2046.
In addition to construction of the parking facilities, the project includes construction of sidewalks, ramps and street lighting improvements. The project was approved by the region’s voters under the Sound Transit 2 ballot measure in 2008. The Puyallup Station garage has 510 parking stalls and opened last month. The Sumner Station garage will include approximately 500 parking stalls and open in 2025, while the Auburn garage will include approximately 550 parking stalls and open by 2027.
Sound Transit recently received another federal loan for transit improvements. In March 2023 the agency announced it would receive a $173 million loan to finance the Hilltop Tacoma Link Extension project and the NE 130th Street (Seattle) Station project.
Sound Transit was founded in 1993 and operates the Link Light Rail system in Seattle and Tacoma; Sounder commuter rail service between Everett, Seattle-Tacoma, and Lakewood, Wash.; and regional bus service. Its headquarters is at Seattle Union Station, once served by Milwaukee Road and Union Pacific passenger trains.
There is no such thing as a “LOAN” to a transit agency for capital costs. Every transit agency loses money on daily operations and will never see a thin dime to go towards capital. So the “LOAN” for capital improvement won’t be paid back…
BTW is Sound Transit interstate transportation? Why is the federal government involved. If cities and states want transit they should pay for it themselves. That goes for all 50 states including my own.
I believe you meant a positive return on investment, excluding all federal state and local operating subsidies. But neither do the highways, nor the airlines, when you factor in the public airports, air traffic controllers, and FAA.
So, you are asking why is their a Federal Transit Administration? Besides making grants, what do they do? Set standards for stations (e.g. ADA compliance), crash resistance for transit vehicles?
Yes, Sound Transit is an intrastate transit operator.