$48 million in federal funds heading to West Corridor
Work continues on the Kipling Street light rail bridge.
LAKEWOOD – There’s federal money coming down the track for RTD’s West Corridor Light Rail projects.
Gov. Bill Ritter issued a press release hailing a Congressional announcement of more than $40 million in stimulus money for FasTracks transit projects.
The announcement followed a Thursday release detailing another $8.8 million of American Recovery and Reinvestment Act money for the train line from downtown to the Jefferson County government campus in Golden.
The $40 million already had been committed to the project, but the funds were expedited so the Regional Transportation District can start more projects without being forced to float loans for the work, according to a written statement from Sens. Mark Udall and Michael Bennet.
The $40 million grant is part of $742 million in Recovery Act funds released by the government this week to pay for transit projects in nine states.
Last January, RTD and the Federal transit Agency reached an agreement to sink $308.6 million in the 12.1-mile West Corridor line to be paid in annual increments over the next several years. The $40 million in stimulus money released this week is part of that money.
The funds “will allow the Regional transportation District to save on financing costs while putting additional dollars into the local economy,” according to the senators’ statement. “It will also help address funding shortfalls caused by a decline in local resources during the recent economic downturn.”
The slowing economy has dampened what was a hot bid market, but the cost of construction materials, fuel and contractors have dropped over the past year. Still, RTD expects falling sales tax revenue will leave it $2.1 billion short of the estimated $7.9 billion FasTracks cost.
RTD’s controversial western route has been scaled back from back from the original plan, including fewer benches, less shelter from the weather, station cutbacks and less security hardware.
Some communities along the rail line, including Lakewood, have replaced some of those cutbacks with city tax money.
The West Corridor project, estimated at $511.8 million in 2004, now is expected to cost $707.6 million when complete.
Another $8.8 million of already committed Recovery Act money will be used for specific projects along the West Corridor, Ritter’s office announced earlier in the week.
“This is going toward items on the West Corridor and it’s going to help close the FasTracks funding gap,” said Scott Reed, RTD spokesman.
Most of the money, $4.5 million, will fund installation of a sewer line and a box culvert as part of a drainage project near West 13th Avenue and Wadsworth Boulevard, Reed said.
About $1.4 million will be used to relocate Eighth Street at the Federal center and $250,000 will provide siding tracks near Interstate 70 in unincorporated Jefferson County.
Another $27 million will fund the West Howard Place gulch drainage improvement work just inside east Denver.
