The US Department of Transportation (DOT) has allocated $750 million in FY 2013 funding for the Transportation Infrastructure Finance and Innovation Act program, which provides direct loans, loan guarantees and standby lines of credit to major infrastructure projects with the potential to create jobs and spur economic development and growth. The DOT has provided TIFIA funding across a broad range of project types, including a variety of transportation modes and the surface transportation components of multifaceted development and redevelopment projects. Generally, eligible projects include highway projects, passenger rail projects, transit and intermodal projects, private rail facilities providing public benefit to highway users, surface transportation infrastructure modifications necessary to facilitate direct intermodal transfer and access into and out of a port terminal, intelligent transportation systems, surface transportation projects, international bridges and tunnels and intercity passenger bus or rail facilities and vehicles. Additionally, Moving Ahead for Progress Act in the 21st Century allows related improvement projects to be grouped together, providing the individual components are eligible. The DOT may provide credit assistance in the form of direct loans, lines of credit and loan guarantees.
Eligible Applicants: The application process begins with the submission of a Letter of Interest and determination of eligibility. Only after a project sponsor has submitted a Letter of Interest and met all statutory eligibility requirements will the project sponsor be invited to submit an application.
Award Ceiling: 33 percent of the project’s eligible project costs
Deadline: The DOT is currently seeking Letters of Interest on an ongoing basis
Contact: Duane Callender, 202 366 1059, TIFIACredit@dot.gov
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