SEPTA's plan to extend rail service to King of Prussia gained entry into a national program on Monday putting the project in line for a potential boost in federal funding, reports the Philadelphia Business Journal.
The Federal Transportation Administration’s Capital Investment Grant program appropriates funds under its New Starts program for light, heavy, and commuter rail projects, streetcar, and bus rapid transit projects. The New Starts program provides $2.3 billion annually in federal funding to transit projects across the U.S., including extensions to existing systems like the Norristown High Speed Line.
The $2 billion rail line would connect Center City and University City to King of Prussia, a suburban hotbed for development. The proposal would add 4.4 miles to the Norristown High Speed Line, PBJ.com reports.
SEPTA has said it will seek up to 50% of the project’s funding from the Federal Transit Administration's New Starts program.
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PBJ.com has a look at how SEPTA officials are calling the entry into the New Starts program "a critical milestone."
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