Met Council says it has deal with Hennepin County to fund SW light rail costs

The Metropolitan Council says it has an agreement with Hennepin County on closing the final gap in funding for the Southwest Corridor light rail project.

The line, which will connect downtown Minneapolis with Eden Prairie, Minn., has been plagued by construction delays and cost overruns.

The Met Council didn’t give a dollar amount when announcing Monday’s deal, but an auditor’s report late last year said $535 million of the project was unfunded.

The Met Council says it will cover 45 percent of the remaining costs, plus the price of starting up the line, and Hennepin County will cover 55 percent. At least part of the Met Council’s costs will be covered by federal funding, the agency said.

The agreement has yet to be approved by the Met Council and the Hennepin County Board of Commissioners.