The Seattle region’s public transportation authority, Sound Transit, on December 22 received the first Master Credit Agreement (MCA) issued by the US Department of Transportation under the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Sound Transit has been a client of Peyser Associates since 1999 and Peter A. Peyser advised Sound Transit during the approval process for the credit agreement.
The MCA will provide Sound Transit with up to $2 billion in credit support for four transit projects. Individual loans for those projects will be approved on a case-by-case basis.
“Peyser Associates is pleased to have assisted Sound Transit in navigating the process to be the first recipient of a MCA,” said Peyser. “We look forward to working with Sound Transit and other clients to make further use of this valuable tool.”
Click on this link to see the US DOT Press Release. https://www.transportation.gov/briefing-room/usdot-launches-innovative-infrastructure-financing-tool-provide-nearly-2-billion