NY: FTA to issue $3.4 billion full funding grant agreement for 2nd Ave. Subway Phase 2 project

The Federal Transit Administration (FTA) will issue a $3.4 billion full funding grant agreement (FFGA) for the Metropolitan Transportation Authority’s (MTA) Second Avenue Subway Phase 2 (SAS II) project that will allow the SAS II project to proceed to extend the Q train from 96th St. to 125th St. in East Harlem. The funding is granted through the FTA’s Capital Investment Grant (CIG) program.

U.S. Sen. Charles Schumer (D-NY) and US. Rep. Adriano Espaillat (D-NY-13) held a press briefing Oct. 25 detailing the pending grant, which will be sent to Congress for a two-week review period.

“This is the largest capital investment grant in the history of the program. This grant is significant not only in its size, but also in where it’s going. The funds will be used to build public transit in a neighborhood that has been neglected for far too long,” said Sen. Schumer.

The $3.4 billion in federal funding for the SAS II project represents 44.2 percent of the estimated $7.7 billion project capital cost of the project. The project’s pending FFGA will be the largest MTA FFGA in FTA’s history, greater than the $2.63 billion Long Island Rail Road East Side Access to Grand Central Terminal awarded to the MTA in 2006. Only the $6.8 billion in potential funding through the CIG program for the Phase One Hudson Tunnel Project would be greater. ................(more)

https://www.masstransitmag.com/rail/infrastructure/article/53076458/fta-to-issue-34-billion-full-funding-grant-agreement-for-second-avenue-subway-phase-2-project