Current News | News Archives
WASHINGTON - U.S. Transportation Secretary Anthony Foxx joined representatives from the Georgia Department of Transportation in Atlanta today to announce a Transportation Infrastructure Finance Innovation Act (TIFIA) loan for $275 million to build new reversible lanes along I-75 and I-575. The 29.7-mile-long project will relieve congestion along the heavily trafficked corridor during morning and evening peak periods. The loan will go toward the $833.7 million total cost of the project.
Read the full Press Release (November 21, 2013)
U.S. Transportation Secretary Anthony Foxx announced a Transportation Infrastructure Finance Innovation Act (TIFIA) loan of $474 million to build the new replacement for the current Goethals Bridge that connects Elizabeth, New Jersey with Staten Island, New York. The Port Authority of New York and New Jersey (PANYNJ), which operates the bridge, estimates that more than $33 billion in regional goods passes across the bridge each year, and an average of 74,000 vehicles cross the bridge in both directions each weekday. A new cable-stayed bridge, with six 12-foot wide travel lanes, a 12-foot wide outer shoulder and a five-foot wide inner shoulder on each roadway, will replace the existing bridge. The Goethals Bridge is key to accessing Newark Airport from New York City and provides a connection between the New Jersey Turnpike, Routes 1 & 9 and other New Jersey highways, the Staten Island Expressway (I-278), and the Verrazano-Narrows Bridge.
Read the full press release (November 5, 2013)
WASHINGTON - U.S. Transportation Secretary Anthony Foxx announced a $531 million Transportation Infrastructure Finance Innovation Act (TIFIA) loan for Interstate Highway 35W in Tarrant County, Texas, that will relieve one of state's most congested corridors and improve safety by upgrading the expressway and adding two new lanes in each direction. IH-35W is a critical commuter and international trade corridor. The project will reconstruct more than 12 miles of freeway and add managed lanes, which give drivers the option of paying a toll to use them, on the most congested segments of IH-35W in Tarrant County. The project will also reconstruct the IH 820/IH 35W interchange. The $531 million TIFIA loan will go toward the $1.6 billion total cost of the project. The private concessionaire, NTE Mobility Partners, will receive the loan for the work under agreement with the Texas Department of Transportation.
Read the full press release (September 19, 2013)
Orange County Express Lanes to Extend into Riverside County
U.S. Transportation Secretary Anthony Foxx announced a $421 million loan for the SR 91 Corridor Improvement Project in Southern California to increase capacity of the corridor and ease congestion on the Riverside County side of the highway. The loan is made possible through innovative federal financing assistance that partners with private sector investments to deliver large transportation infrastructure projects. SR 91 will extend the existing two 91 Express Lanes and construct one general purpose lane in each direction from the Orange County line to I-15 in Riverside County, a distance of approximately eight miles. It also includes improvements to bridges and intersections and will add merge lanes for improved access.
Read the full press release (July 3, 2013)
U.S. Transportation Secretary Ray LaHood yesterday approved a nearly $120 million loan that will enable Dallas Area Rapid Transit (DART) to advance construction on the third phase of its light rail Orange Line extension project. The extension, which will connect Irving, Texas, with Dallas Fort Worth Airport (DFW), is part of a long-term effort to create a 90-mile light rail network by 2014 to serve the Dallas metropolitan area.
Read the full press release (December 14, 2012)
Pursuant to the recently enacted Moving Ahead for Progress in the 21st Century Act (MAP-21), DOT announced the availability of funding authorized in the amount of $1.75 billion ($750 million in Federal Fiscal Year (FY) 2013 funds and $1 billion in FY 2014 funds (and any funds that may be available from prior fiscal years)) to provide TIFIA credit assistance for eligible projects. Projects must meet statutorily specified eligibility criteria to receive credit assistance. The Notice of Funding Availability (NOFA), published on July 31, 2012, outlines the process that applicants must follow.
Letters of Interest must be submitted using the form on the TIFIA website:
DOT has revised the form for the Letter of Interest to reflect changes made to the TIFIA program by MAP-21. Submit all Letters of Interest via e-mail at: TIFIACredit@dot.gov.
U.S. Transportation Secretary Ray LaHood today announced the availability of up to $17 billion in loans for critical infrastructure projects across the country as a result of the recently enacted surface transportation bill. Secretary LaHood encouraged states and cities across the country to submit letters of interest for the TIFIA (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.
Read the Full Press Release (July 27, 2012)