Bus

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

New Smith System training tools focus on bus and transit drivers, passengers

The collection teaches bus drivers how to use The Smith5Keys® to create a safer environment inside and around the bus.

MCI awarded Ga. state transportation contract for D4500, D45 CRT LE

The contract permits authorized state and local Georgia public entitles to purchase the vehicles.

New Flyer opens high-tech bus part fabrication facility in Ky.

The opening follows from New Flyer’s announcement in Nov. 2017 to invest $28 million in the state.

Calif.'s MST wraps its first five-year plan with the Monterey Jazz Festival

In celebration of the festival’s recent 60th Anniversary, MST revamped the exhibits to showcase a new generation of performers from the most recent festivals.

VIA selected to receive $2M grant for electric vehicles

The FTA is making $84.45 million available nationwide in selections for the Low- or No-Emission Grant program.

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

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