The new initiative, “TIFIA 49,” authorizes borrowing up to 49% of eligible project costs for projects that meet certain eligibility requirements, helping more projects get off the ground.
The new competitive discretionary grant program was created by the Bipartisan Infrastructure Law and will be administered by the Federal Railroad Administration
Someone asked me recently if public-private partnerships (P3s) are just a fad or a delivery method that will ultimately be the country’s future. There’s no doubt about the answer. Public-private partnerships are here to stay.
Combining three major discretionary grant programs into one Multimodal Projects Discretionary Grant opportunity reduces the burden for state and local applicants and increases the pipeline of “shovel-worthy” projects that are now possible because of the Bipartisan Infrastructure Law.
Although COVID-19 has certainly presented the transit industry with significant challenges, the timing of introducing new initiatives might actually be advantageous, tempering unrealistic expectations for success.
Use for operating expenses in addition to capital expenses and permits operating expenses to be covered at an 80% federal share.
The project will serve a dense suburban corridor where the existing roadway network is constrained and travel options are limited to two congested roadways.
The $2.9 billion project budget includes up to $1.17 billion from a Full Funding Grant Agreement executed by the FTA.
There are 30 states that must obtain FTA certification of their SSO Programs by April 15, 2019. Four states have already met the deadline: Ohio, Minnesota, Utah, and the District of Columbia.
Only 3.6% of the TIGER grants that were recently announced went to public transit projects, representing a significant decrease in public transit TIGER grants.
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