RTD can access up to $280 million in loans from the federal government for use on FasTracks projects.
The monetary boost, announced today, is in addition to a $1.03 billion federal funding agreement for Regional Transportation District projects unveiled in July.
The new $280 million loan, announced by the U.S. Department of Transportation, will allow RTD to “conserve short-term cash,” which will be applied to “FasTracks projects that are not yet fully funded,” said Kevin Flynn, an RTD spokesman.
The $280 million, according to Flynn, will be steered toward three RTD projects:
The long-term loan is set at 3.14 percent interest, Flynn said, and RTD will start drawing on it in May of 2013.
Kieran Nicholson: 303-954-1822 or knicholson@denverpost.com.
