Reno repays $50 million federal loan that jump-started rail corridor project, relieved downtown congestion.

0 Comments | M2 Presswire, May, 2006

M2 PRESSWIRE-18 May 2006-US DEPT OF TRANSPORTATION: Reno repays $50 million federal loan that jump-started rail corridor project, relieved downtown congestion(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:17052006 The U.S. Department of Transportation announced today that the City of Reno repaid a loan that jump-started construction of the rail trench that reduces downtown congestion by separating train and automobile traffic 35 years early.

The City paid $55 million with interest on the original $50.5 million loan made in 2002 to launch the Reno Transportation Rail Access Corridor, or ReTRAC project, which held its grand opening the first of this year. The completed project eliminated 10 rail crossings along a 2.1-mile route by taking train traffic 33 feet...