The Houston Metropolitan Transit Authority will receive $900 million in federal grants under agreements signed last week by Peter Rogoff, director of the Federal Transit Administration, and Houston Mayor Annise Parker.

The city has been seeking the grants since 2003. The funds will finance most of the estimated $1.6 billion needed to extend the light-rail system by 12 miles.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.