$967 Million Loan Approved To Implement Rail Safety Technology

Governor Andrew Cuomo announced the Federal Railroad Administration’s approval of a $967 million loan to the Metropolitan Transportation Authority for positive train control technology to be implemented on the Long Island Rail Road as well as Metro North commuter rail lines. The MTA must repay the largest loan approved by the FRA over 22½ years at a fixed interest rate of 2.38%. The MTA originally applied to the Railroad Rehabilitation and Improvement Financing Program of the FRA in February for the loan to comply with federal regulations for the Railroad Safety Improvement Act passed in 2008 in which railroads must utilize the positive train control technology by the end of this year. The technology will allow systems to override possible human error and control certain aspects of train function, possibly preventing collisions with other trains as well as motor vehicles and even derailment due to excessive speeding. The governor thanked Department of Transportation Secretary Anthony Foxx and Acting Administrator Sarah Feinberg for their contribution to securing the loan as well as local New York officials Senator Charles Schumer, and Representatives Nita Lowey, Sean Patrick Maloney, and Eliot Engel. Congresswoman Lowey said regarding the loan approval, “I’m pleased that MTA’s application to install positive train control technology has been approved by the Federal Railroad Administration. Securing this funding would help ensure that disastrous events like the December 2013 Metro North accident never happen again.”

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