Metropolitan Council and Hennepin County have agreeded to funding agreement for the Green Line Extension Light Rail Transit Line.
The Metropolitan Council, in partnership with Hennepin County, have agreed to a funding agreement for the Green Line Extension Light Rail Transit Line. The two entities have collaborated for several months to define funding sources and reach a resolution to close the remaining funding gap.
The funding agreement has the Metropolitan Council responsible for the startup costs prior to the line opening and contributing 45 percent of the funds needed to complete the capital construction of the project. The Metropolitan Council’s share will primarily come from federal capital formula program funds over the next three years. Hennepin County will provide 55 percent of the capital costs from their transit sales tax.
A new project budget will be sent to the Federal Transit Administration (FTA) and adopted early in 2024 following an FTA financial review of the project.
The funding agreement is subject to approval by both the Metropolitan Council and the Hennepin County Board.
