SEPTA’s hopes that its board will approve a loan of $250 million through bonds to cover the cost of the Silverliner Vs as well as the Wayne Junction Station rebuilding. While Wayne Junction was delayed with the cuts in state funding this year, SEPTA is afraid of losing the federal funding for it if they don’t start construction soon.
They hope to pay the money back over 25 years with grants from the Federal Transit Administration. Interestingly, this is the first time since the purchase of the M4s that SEPTA has borrowed money, which is pretty good for a transit system.
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