Requests top $13B for TIFIA loans

Posted on February 16, 2012

The overwhelming demand for TIFIA (Transportation Infrastructure Finance and Innovation Act) program loans has greatly exceeded the dollars available, underscoring President Obama's call for greater transportation investment, according to Secretary of Transportation Ray LaHood. The Department of Transportation received 26 TIFIA letters of interest exceeding $13 billion.

The high number of applicants for TIFIA credit assistance in response to a Notice of Funding Availability for 2012 follows the trend in recent years of overwhelming demand for the program. Requests in 2010 were more than $12 billion and more than $14 billion in 2011.

In light of the increased demand, the President's FY 2013 budget proposes to increase the program's funding level to $500 million, which will leverage into approximately $5 billion in TIFIA loans.

The TIFIA program provides Federal credit assistance to nationally or regionally significant surface transportation projects, including highway, transit and rail. The program is designed to fill market gaps and leverage substantial private co-investment by providing projects with supplemental or subordinate debt.


View comments or post a comment on this story. (0 Comments)

More News

Alexander Dennis' Enviro500 concept bus on display in Singapore

The full low-floor, three-door, two-staircase double-deck bus is being shown at the LTA-UITP Singapore International Transport Congress and Exhibition in Suntec City.

ETA adds Intelligent Transit System to Grand Valley

The new ITS provides Grand Valley with ETA's real-time arrival predictions, fare collection system integration, automatic on-board announcements, and the tools to track and chart system improvements over time.

Proterra names Honeywell, Tesla vet to COO post

Josh Ensign’s track record includes leading global operations for 42 factories in 15 countries and managing the supporting supply chains. 

Nova announces 2 major orders for San Antonio VIA, Houston Metro

The buses will be manufactured in Plattsburgh, state of New York, and the delivery of the vehicles has already begun in Houston.

Driverless bus service in France sets world record

The two electric vehicles, fitted with high-tech equipment including laser sensors, stereo vision and GPS, can ferry around 15 passengers at a top speed of 12 mph.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close