SEPTA unveils $1.1 billion capital budget, largest in agency history
SEPTA announced on Friday a proposed capital budget of more than $1 billion for fiscal year 2023 — its largest budget allocation toward the transit agency's future in its 58-year history.
By the numbers: SEPTA plans to put more than $273 million toward buying new transit vehicles.
- $144 million is going to long-term improvement projects, like a trolley modernization program.
- $105 million is designated for updating communications and signals systems.
- $54 million is for repairing tracks, bridges and other infrastructure needs.
Zoom out: SEPTA also laid out plans to invest $11.4 billion over 12 years, which includes $1.15 billion for vehicle acquisition and infrastructure upgrades.
- $1 billion would help make all 21 rail transit stations and 20 Regional Rail stations accessible to people with disabilities.
- An $800 million allocation would go in part to replacing Market-Frankford line railcars.
- Meanwhile, $390 million is dedicated to the final design and construction of the King Of Prussia rail.
Flashback: Separately, SEPTA released its largest operating budget, at $1.6 billion, earlier this month to cover inflation, such as rising costs for materials, fuel and electricity.
- The plan relies on federal pandemic relief, which the agency expects to last until 2024.
What to watch: SEPTA will hold two virtual public hearings on May 23 on the capital budget proposal at 10am and 4pm, before its board considers the plan on June 23.
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