Government agrees to up to $2 billion in light rail loans

SEATTLE (AP) - Sound Transit can borrow almost $2 billion in low-interest loans from the federal government for light rail extensions.

The Seattle Times reports (https://bit.ly/2ipCLkr) the recently-signed agreement allows payments to be spread over 35 years.

Transportation Secretary Anthony Foxx said hopefully more regions apply for these kinds of loans.

Sound Transit officials estimate savings between $200 million and $300 million.

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Information from: The Seattle Times, https://www.seattletimes.com