The Federal Transit Administration has just announced that over $30 billion in transit project funding is up for grabs as a result of the recently-passed American Rescue Plan Act of 2021.
Signed into law by President Biden on March 11, the legislation contains $26.6 billion for urban and rural, as well as tribal government, transit initiatives.
The legislation also includes $2.2 billion in FTA grants for communities demonstrating additional pandemic-associated needs.
Overall, both the revenue and ridership for transit providers has taken a significant hit in the last year due to Covid-19, and with the loss of that revenues those providers have been more hard-pressed to take on needed system upgrades.
In a press release, the FTA said that formula funding under the American Rescue legislation “will be made available this week and eligible funding recipients can begin developing and submitting their grant applications to the Department immediately.”
In a statement, Nicole Brewin, government and public affairs vice president with the Railway Supply Institute, said the new funding will “help ensure that our customers can continue to serve riders and communities across the nation, and by extension, the hundreds of railway suppliers who support these operations.”
The FTA says competitive funds for projects will be made available through the Notices of Funding Opportunity process published in the Federal Register.
In addition, the FTA plans to host a webinar on the grant funding application process on April 2.
By Garry Boulard
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