APPLICATION PURPOSE: THE PURPOSE OF THIS AWARD IS TO PROVIDE THE INITIAL TRANCHE OF REGIONAL FINANCING REPAYMENT OBLIGATIONS FOR THE BART REPLACEMENT RAILCAR PROJECT CONSISTENT WITH FTA LETTER OF NO PREJUDICE ISSUED JUNE 9 2023.; ACTIVITIES PERFORMED: MTC WILL MAKE PAYMENTS TO ITS CREDITORS ACCORDING TO THE REPAYMENT SCHEDULE.; EXPECTED OUTCOMES: MTC WILL MEET THE OBLIGATIONS OF ITS REPAYMENT SCHEDULE.; INTENDED BENEFICIARIES: THE OVERALL BENEFICIARIES OF THE REGIONAL FINANCING ARE THE BAY AREA AND TRANSIT RIDERS WHEREIN BART RIDERS ARE RIDING ON A FULLY REPLACED RAILCAR FLEET AND FINANCING CREATED CAPACITY TO FUND NOT ONLY THE RAILCARS DURING A HEAVY PRODUCTION PERIOD IN 2023 2024 AND 2025 BUT ALSO CONTINUE FUNDING OTHER CRITICAL TRANSIT STATE OF GOOD REPAIR NEEDS DURING THE YEARS OF FINANCING DRAWDOWN.; SUBRECIPIENT ACTIVITIES: NONE
No obligation actions stored for this award.