The Board of Public Works approved a hefty payment to the consortium building the Purple Line on Wednesday, though the state’s top transportation official insisted the payout — in tandem with a new contract modification — will save taxpayers money in the long run.
The funding will allow Purple Line Transit Partners (PLTP) to pay off early the $313 million in “private activity bonds” that the consortium floated in 2016 to launch the project.
When completed, the 16-mile line will connect the inner-suburbs of Montgomery and Prince George’s, with several stops near the University of Maryland College Park.
The rail line suffered a major setback last summer when PLTP’s prime subcontractor, Purple Line Transit Constructors (PLTC), successfully sued to pull out of the project following a lengthy dispute with the state over cost-overruns.
Click here to read the rest of the article written by Bruce DePuyt over at Maryland Matters
