• BREAKING NEWS ABC shows live and on-demand -- Download the WATCH ABC app!

L.A. gets $500M loan for new light rail line

October 15, 2010 12:00:00 AM PDT
Los Angeles has secured a $500 million loan from the federal government to start building a light rail line, officials announced Friday. The line is planned to run from the Expo Line in the Crenshaw District to the green line near Los Angeles International Airport.

The loan will allow construction to start next spring -- years ahead of schedule -- and is expected to create about 5,000 jobs.

The project could be completed within five or six years.

The loan will be repaid from the half-cent sales tax increase approved by voters in 2008.