Chron: "METRO getting houston light rail projects back on track"

Chris Moran slides into the Mike Snyder Endowed Chair For METRO PR Dissemination down at 801 Texas Avenue to share the following news:

After nearly halting light- rail projects last year because of mistakes in its planned purchase of rail cars, the Metropolitan Transit Authority is reviving its rail building program as it becomes more confident the federal government will deliver a $900 million grant.

[snip]

Last month, the Federal Transit Administration sent the first $50 million of the grant money for use on the North and Southeast lines. Last week, the FTA issued pre-clearance letters Metro needed before it could proceed with more than $12 million worth of projects for which it is relying on federal reimbursements. Ultimately, the FTA will pay about half the cost of the North and Southeast lines.

"This is just further evidence that we're on track and the relationship with the FTA is progressing," said Metro board Chairman Gilbert Garcia, one of five board members appointed by Houston Mayor Annise Parker last year to try to rescue the jeopardized federal grant money (Chris Moran, METRO getting Houston light rail projects back on track, Houston Chronicle).

Rah rah!

I wonder how METRO's liquidity ratio is looking these days (which will be a good sign whether it can afford its massive light-rail spending plans). We'll probably have to wait for Michael Reed and the Examiner News to get that info.

Posted by Kevin Whited @ 01/04/11 08:19 PM | Print |

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