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NEWS FROM THE APTA LEGISLATIVE CONFERENCE |
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» The Virginia Department of Rail and Public Transportation seeks a chief of public transportation and a transit planning and project development manager. [More]
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| » Arlington, VA, is looking for a transit bureau chief. [More] |
| » The Kansas City Area Transportation Authority is soliciting proposals to help the agency plan to expand and fund vanpools and assume management and operation of the existing vanpool program. [More] |
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Foxx: TIFIA Funds Available; Repurpose Unused Earmarks
DOT Secretary Anthony Foxx has invited states and cities across the U.S. to submit letters of interest for direct loans, loan guarantees and standby lines of credit for critical infrastructure projects through the Transportation Infrastructure Finance and Innovation Act (TIFIA) program.
The FAST Act authorizes $1.435 billion in capital over five years for the TIFIA credit assistance program. Historically, $1 of TIFIA program funds supported a TIFIA loan of approximately $14 and resulted in infrastructure investment of up to $40, when taking into account other state, local and private sector investments.
The TIFIA Notice of Funding Availability and more information are available here.
Foxx also recently announced that roughly $2 billion in unused earmarks can be allocated to infrastructure projects across the country, as described in new guidance from FHWA.
“This is a tremendous opportunity for state and local governments to work together to identify their needs heading into the next 30 years,” Foxx said.
This guidance implements a provision in the Consolidated Appropriations Act of 2016 that gives states the option of repurposing certain earmarked funds if the original earmark was more than 10 years old and if less than 10 percent of project funds had been obligated, or if the project is closed. Through the end of FY 2016, states have the option of redesignating these dollars to other projects within 50 miles of the originally intended use. Find details here.
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