The capital budget provides a large boost over the current $308 million spending plan for construction, repairs, and new vehicles. The additional spending was made possible by a boost in state transportation funding approved in November by the legislature.
The money will go for such things as a long-delayed "smart card" electronic fare-payment system, federally mandated positive train control on the Regional Rail network, new buses and railcars, and repairs to bridges, tracks, passenger stations, and power substations.
The SEPTA board also approved a 30-year lease with the city that gives the transit agency control over much of the city-owned concourses beneath Center City.
SEPTA will now be responsible for the cleaning, maintenance, and repair of most of the concourse beneath Market Street between Eighth and 18th Streets, and beneath Broad Street from JFK Boulevard to Spruce Street.
PATCO will continue to be responsible for cleaning and maintaining the city-owned concourse beneath Locust Street and the area around its Eighth/Market Station, including the passageway between Market and Chestnut Streets.
The Center City District, which had been responsible for most of the concourse cleaning, will continue to clean the concourses around the commuter rail stations at Suburban and Market East Stations, under a SEPTA contract that expires at the end of 2017.
The CCD also will be responsible for maintaining the area beneath the new Dilworth Plaza under construction west of City Hall.