^In addition to funding those specific elements of the project, this loan brings the project one step closer to securing the funding to build the train box in phase 1. From a TJPA email I received today:
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In addition, the $171 million TIFIA loan paves the way for the next increment of funding for the train box. TJPA has applied for $400 million in federal economic stimulus funds to construct the below grade train levels of the Transit Center as a part of the first phase of construction, which would ultimately save the project $100 million overall. Announcement of the American Recovery and Reinvestment Act (ARRA) funding is expected this winter.
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