“SEPTA’s capital budget has been underfunded for decades,” SEPTA CEO Leslie S. The agency says the price increases about $100 million with each year of delay. The SEPTA share would include any cost overruns for a project that seen its price tag soar to $3.02 billion, up from $2.08 billion in August 2020. SEPTA said in a press release that it was “pausing the King of Prussia Rail project following further review of rising costs, which have been exacerbated by inflation and high interest rates.” The agency said a lack of flexibility in its capital budget was “a major factor” in the failure to receive funding under the FTA’s New Starts program, with the FTA expressing concern whether SEPTA could fund its share of the project. PHILADELPHIA - The Southeastern Pennsylvania Transportation Authority has halted work on its plan to build a 4-mile spur of the Norristown High Speed Line to King of Prussia, Pa., after the project failed to receive funding from the Federal Transit Administration. The project has been halted because of a lack of funding. The route of the planned King of Prussia Rail Line, a spur from SEPTA’s Norristown High Speed Line.
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