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June 9, 2017
Transportation projects will stay on track
Everett is planning to build a pedestrian bridge from Grand Avenue Park to the waterfront. The project can count on $1,060,000 in federal funds via PSRC in 2018 for construction.
PSRC funded projects can count on federal dollars when they need them to proceed, thanks to voluntary coordination by project sponsors throughout the region.
The region recently balanced the books for Federal Highway Administration funds the region expects to receive through 2020.
It means relief to project sponsors worried that a race to use a roughly $80 million limit in FHWA funds available each year could have created a logjam that would lead to delays in project delivery.
Worry about “over obligation” of federal funds is a recent side effect of project delivery that has met and exceeded goals for each of the past five years.
Five years ago the state required PSRC to achieve annual delivery targets or risk losing funds if targets are not met.
Local governments in the region are delivering faster than ever before – nudging up against yearly limits on available funds – and causing concern among state officials challenged with coordinating the delivery of federal funds.
The balance that’s been achieved will help avoid project delay and better ensure that funds are put to work as quickly as possible.
Early next year, the PSRC will launch the next project selection process for an estimated $450 million in transit and highway funds the region expects to receive in 2021 and 2022. That process kicks off with a “Framework” committee to recommend priorities for the merit based competition.
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