It’s a slow news week, so I’ll dedicate a whole post to the news that ST is getting a $23m advance on federal U-Link funding:
The grants being awarded today will not increase the federal government’s overall share in the projects. Rather, a portion of the federal share for each project is being paid earlier than expected because of unallocated funds in FTA’s Fiscal Year 2010 budget for new construction.
“The advance payments being announced today will free up local funds that can now be used for other transit projects that will make it easier for families to get to work, to school, and to other important destinations,” said FTA Administrator Peter Rogoff. “These advances will also result in the savings of financing costs that local sponsors would have otherwise incurred.”
Whoo cash flow, whoo interest savings, whoo avoiding any possibility of Congressional Republicans messing things up.