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The Transportation Infrastructure Finance and Innovation Act (TIFIA) program provides Federal credit assistance in the form of direct loans, loan guarantees, and standby lines of credit to finance surface transportation projects of national and regional significance. TIFIA credit assistance provides improved access to capital markets, flexible repayment terms, and potentially more favorable interest rates than can be found in private capital markets for similar instruments. TIFIA can help advance qualified, large-scale projects that otherwise might be delayed or deferred because of size, complexity, or uncertainty over the timing of revenues. Many surface transportation projects - highway, transit, railroad, intermodal freight, and port access - are eligible for assistance. Each dollar of Federal funds can provide up to $10 in TIFIA credit assistance - and leverage $30 in transportation infrastructure investment.
Secretary LaHood Announces $300 Million for Denver Union Station Redevelopment
USDOT Approves $1.465 Billion in Funds for the LBJ Freeway in Dallas
Extension Notice - Fiscal Year 2010 Notice of Funding Availability
New Fiscal Year 2010 Letter of Interest and Application Forms
Today's TIFIA Interest Rate
4.09%
for a 35-year loan as of Thursday, July 29, 2010
183-A Turnpike - Austin, TX
The 183-A Turnpike is a new 11.6-mile controlled access north-south tolled highway east of the existing US 183 in metropolitan Austin. This regionally significant project connects to the Central Texas Turnpike System, previously funded in part with TIFIA credit assistance. The project will alleviate congestion and improve safety in a fast growing region that consistently ranks as one of the Nation's most congested.
Central Texas Turnpike System
The Central Texas Turnpike System (CTTS) is a new transportation network that improves overall traffic mobility, facilitates access to regional services, and increases travel safety for Central Texas residents, workers, and visitors. It consists of three contiguous toll highways serving the Austin metropolitan region and the Austin-San Antonio corridor: SH 45 North, Loop 1, and SH 130 (Segments 1-4). State and local funding sources were combined with a Federal TIFIA loan to finance the project.
Cooper River Bridge Replacement - Charleston, South Carolina
North America's longest cable stay span replaced the existing truss bridges connecting the City of Charleston and the Town of Mount Pleasant along Highway 17.
I-495 Capital Beltway HOT Lanes - Fairfax County, Virginia
The I-495 Capital Beltway High Occupancy Toll (HOT) Lanes project is a P3 between VDOT and Capital Beltway Express, LLC, a joint venture of Fluor and Transurban. This team is working in partnership to deliver the most significant improvements to the Capital Beltway (I-495) in a generation. Financing includes the first-ever combination of TIFIA credit assistance and private activity bonds (PABs).
I-595 Corridor Roadway Improvements - Broward County, Florida
The I-595 Corridor Roadway Improvements project consists of the reconstruction and widening of 10.5 miles of the I-595 mainline from the I-75/Sawgrass Expressway to I-95. The project is being implemented as a P3 between FDOT and a private concessionaire, I-595 Express, LLC, to design, build, finance, operate, and maintain the roadway for a 35-year term. FDOT will make availability payments backed by Federal and state resources for the concessionaire's successful completion of construction and ongoing operations. The concessionaire's financing, backed by these availability payments, includes senior bank debt, a TIFIA loan, and private equity.
Intercounty Connector - Maryland
The Intercounty Connector (ICC) is a toll highway under construction in Maryland. The road will link existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County.
LA 1 Improvements - Leeville, Louisiana
The Louisiana Department of Transportation and Development (DOTD) is in the process of replacing a major portion of existing LA 1 highway near Leeville, Louisiana, with a lengthy, 18 mile bridge. This area of our state's sensitive wetlands has been featured nationally as being the victim of coastal erosion and ground subsidence, and the existing LA 1 highway is literally sinking.
IH 635 Managed Lanes - Dallas County, Texas
The IH-635 (LBJ Freeway) Managed Lanes Project will relieve congestion north of Dallas on a 13-mile stretch of the LBJ Freeway with reconstruction of its main lanes and frontage roads and the addition of six managed lanes along I-635 (subsurface) and I-35E (elevated). The project is being built as a P3 (Comprehensive Development Agreement [CDA]) between TxDOT and LBJ Infrastructure Group, which will operate and maintain the facility for 52 years.
Miami Intermodal Center - Florida
Located next to the Miami International Airport, the Miami Intermodal Center is a massive ground transportation hub being developed by the Florida Department of Transportation. To be completed by 2012, the MIC Program consists of a Rental Car Center, the Miami Central Station, major roadway improvements, the MIA Mover and a joint development component.
Pocahontas Parkway / Richmond Airport Connector - Greater Richmond, Virginia
The Virginia I-895 Pocahontas Parkway high level crossing of the James River in Richmond, VA. This $354 million project was financed by tax-exempt toll revenue bonds issues by a 63-20 corporation. It is the first transportation project implemented under Virginia's Public-Private Transportation Act of 1995 (PPTA).
Port of Miami Tunnel - Florida
The Port of Miami Tunnel will improve access to and from the Port of Miami, serving as a dedicated roadway connector linking the Port (located on an island in Biscayne Bay) with the MacArthur Causeway and I-395 on the mainland. The project is being developed as a P3 with Miami Access Tunnel, LLC (MAT). The state has agreed to pay for approximately 50 percent of the capital costs (design and construction) and all operations and maintenance, while the remaining 50 percent of the capital costs will be provided by the local governments. FDOT will make milestone payments to MAT at various stages of project development, followed by availability payments during a 30-year concession. Senior bank debt, a TIFIA loan, and private equity have been used to finance the project.
North Tarrant Express - Dallas-Fort Worth Metroplex
On June 23, 2009, TxDOT awarded two Comprehensive Development Agreements (CDAs - equivalent to public-private partnerships) for the North Tarrant Express project to NTE Mobility Partners. The Concession CDA for Phase 1 includes the design, development, construction, finance, maintenance, and operation of 13 miles along Interstate (IH) 820 and State Highway (SH) 121/SH 183 from IH 35W to SH 121, from north of Fort Worth to just southwest of Dallas-Fort Worth International Airport. The duration of the concession is 52 years.
Reno Transportation Rail Access Corridor (ReTRAC) - Reno, Nevada
Traffic congestion and safety concerns brought about the largest public works project ever undertaken in Northern Nevada, the Reno Transportation Rail Access Corridor, or ReTRAC.
SH 130 (Segments 5-6) - Texas
When fully completed, SH 130 will be a four-lane, 91-mile toll road east and south of Austin designed to relieve congestion on the heavily traveled I-35, the primary north-south route through Central Texas.
South Bay Expressway (formerly SR 125 South) - San Diego County, California
The South Bay Expressway toll road is a 9.3-mile privately-funded southern extension of SR 125, extending from SR 905 near the International Border to SR 54 near Sweetwater Reservoir in San Diego, California. South Bay Expressway, L.P., holds a franchise with the State of California under which it financed and built the highway, then transferred ownership to the State. The limited partnership is leasing back, operating, and maintaining the facility for 35 years. This $658 million transaction was the first P3 financing to include support from the TIFIA program.
Staten Island Ferries and Terminals - New York
The Staten Island Ferry provides 20 million people a year (60,000 passengers a day not including weekend days) with ferry service between St. George on Staten Island and Whitehall Street in lower Manhattan.
Staten Island Ferries - New York
The Staten Island Ferry provides 20 million people a year (60,000 passengers a day not including weekend days) with ferry service between St. George on Staten Island and Whitehall Street in lower Manhattan.
Transbay Transit Center- San Francisco, California
The new Transbay Transit Center will connect the Bay Area to the rest of California, making daily commutes and longer trips easier, faster, and more convenient. The new multimodal, regional facility will be completed in 2014. This is the first TIFIA loan secured by value capture revenues from real estate taxes on surrounding transit oriented development.
Tren Urbano - San Juan, Puerto Rico
The Tren Urbano—or Urban Train in English—is a 10.7-mile (17.2 km) fully automated rapid transit that serves the metropolitan area of San Juan, which includes the municipalities of San Juan, Bayamón, and Guaynabo. It is electrified by third rail at 750 V DC. The Tren Urbano consists of 16 stations along a single line.
Triangle Expressway - Raleigh-Durham, North Carolina
North Carolina's plans for congestion relief just received help from the U.S. Department of Transportation through its approval of a $386 million loan to build two brand new sections of the Triangle Expressway in the Raleigh-Durham area in July 2009.
Warwick Intermodal Station - Warwick, Rhode Island
This intermodal transportation facility will include a commuter rail station, a bus terminal, a consolidated rental car facility, a 3,200-space parking garage, and a skywalk to T.F. Green Airport, which serves the Providence area and southern Massachusetts.
Washington Metro Capital Improvement Program - Washington, D.C.
The WMATA capital improvement program (CIP) will replace vehicles and rehabilitate facilities and equipment on the rail and bus systems. Individual components of the CIP include procurement of new buses and rail cars; major maintenance and rehabilitation of electrical and mechanical systems, communications, and track and structures to improve system-wide performance; escalator and elevator rehabilitation and other station enhancements; parking lot improvements; and upgrades to several maintenance facilities.
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