Federal Transit Administrator Peter Rogoff today signed an agreement to commit 50 percent funding for the nearly $1.5 billion Portland-Milwaukie Light Rail Transit Project.

More

The federal portion of funding will be $745.2 million. The remainder will come from local agencies and governments, including Clackamas County, Metro, city of Milwaukie, Multnomah County, city of Oregon City, Oregon Department of Transportation, city of Portland, Portland Development Commission and TriMet.

Mary Fetsch, spokeswoman for TriMet, said the agreement allows the project to move into full construction. The 7.3-mile line is scheduled to open in September 2015.

U. S. Rep. Suzanne Bonamici, Portland Mayor Sam Adams, Milwaukie Mayor Jeremy Ferguson and other local officials joined Rogoff for the signing.

"The Portland-Milwaukie Light Rail Extension is critical for continued economic growth in the Portland metro area,"Bonamici said in a statement. "Improved transit creates new customer bases for the downtown core and reduces congestion for commuters across the region. I am thrilled to see that the U.S. Department of Transportation has once again recognized the metro area's record of innovative transportation planning."

TriMet estimates the project will create up to 14,500 direct and indirect jobs and generate up to $573 million in personal earnings.

A light-rail bridge across the Willamette River that will also carry buses, bikes and pedestrians is already under construction. The line will run Portland State University in downtown Portland to South Waterfront, southeast Portland, Milwaukie and North Clackamas County.

Tracking Rail Funding