The Metropolitan Council voted to authorize a loan agreement with the Minnesota Department of Transportation to coordinate roadway improvements for the Metro F Line bus rapid transit corridor.

Councilmember Barber introduced business item 2025-277, saying 2025 legislation gives the council authority to make up to two loans of council sales tax to MnDOT totaling up to $250 million for coordinated corridor construction. For the F Line, Barber said the proposed agreement would loan MnDOT up to $70,000,000 to allow construction on Highway 47 to begin in 2028. The loan would be repaid by 2040 or 10 years after construction begins, whichever is later; terms discussed include a 4 percent interest rate based on a municipal composite return intended to prevent financial benefit to either party.

Barber moved that the council authorize the regional administrator to negotiate and execute the loan agreement; the motion was seconded and adopted by voice vote.

What’s next: the regional administrator will negotiate final loan documents with MnDOT and return any required execution materials per the council’s authorization.