Sunday, March 4, 2012

STATE SEEKS CASH FOR RAIL PROJECTS.(Business)

The state has applied for $565 million in federal stimulus money for local rail projects, a portion of which would pay for a second main track between the Albany-Rensselaer and Schenectady train stations.

The state Department of Transportation has applied for the aid through the American Recovery and Reinvestment Act. It is designed to cover engineering, construction and program improvements on shovel-ready jobs that would completed within two years.

The Federal Rail Administration will earmark the funds from a pool of $8 billion in stimulus funds, which will be allocated to states through competitive grants. Additionally, President Barack Obama has requested …

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