Nikolaus H. Grieshaber, Chief Financial Officer/Treasurer
Southeastern Pennsylvania Transportation Authority
Southeastern Pennsylvania Transportation Authority
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SEPTA’s Board today approved an amended Capital Budget for the current fiscal year to add approximately $95 million in funding that has been made available through the recently enacted federal Infrastructure Investment and Jobs Act (IIJA), also referred to as the Bipartisan Infrastructure Law (BIL).
The Board’s approval comes after public hearings were held on the proposed amendment earlier this month. The funding increases the Fiscal Year 2022 Capital Budget from $618.85 million to $713.85 million. SEPTA’s Fiscal Year covers the 12-month period from July 1 through June 30.
“I want to thank the southeastern Pennsylvania Congressional Delegation for their unwavering support of SEPTA,” said SEPTA Board Chairman Pasquale T. Deon Sr. “These critical infrastructure funds will help ensure that SEPTA can support this region through the pandemic recovery and beyond.”
Over the five-year life-span of the federal infrastructure bill, SEPTA expects to receive approximately $500 million in additional federal formula funding. This will be reflected in the Fiscal Year 2023 Capital Budget and FY 2023-2024 Capital Program, which is currently being developed.
In addition to infrastructure repairs and upgrades, this funding will allow SEPTA to accelerate design work for station accessibility upgrades on the Market-Frankford Line, Broad Street Line and Regional Rail. This additional investment in design will also ensure SEPTA is prepared for the federal competitive All Stations Accessibility Program (ASAP), which is a new program funded under the federal infrastructure bill.
“I am proud of SEPTA’s commitment to accessibility, including making all Broad Street and Market-Frankford Line stations fully ADA accessible,” said SEPTA General Manager Leslie S. Richards. “Funding from the Bipartisan Infrastructure Law accelerates these and other initiatives and ensures that our service is equitable and inclusive.”
The amendment allows SEPTA to immediately increase capital funding for design and implementation of Projects of Significance, which include Trolley Modernization, King of Prussia Rail, and rail vehicle replacement.
