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Letters of Interest & Applications

TIFIA Review and Approval Process
(As of December 5, 2014)

MAP-21 establishes a multi-step process for TIFIA credit assistance beginning with the submission of a letter of interest (LOI). The initial LOI eligibility review is intended to identify major statutory, regulatory, financing or timing issues that would prevent the project from receiving TIFIA assistance. The estimated timeframe for the initial review is approximately 30 days, assuming that the Department receives all information as requested. Next, the creditworthiness review involves evaluation of the plan of finance, financial model, and feasibility of the pledged revenue. The estimated timeframe for the creditworthiness review is between 45 to 90 days after receipt of all requested information. If a project satisfies all of the statutory eligibility criteria, including creditworthiness, the Department will invite the project sponsor to apply for TIFIA credit assistance. The application review will include review of project documents, notification of whether the application is complete or whether additional materials are needed, and approval or disapproval of the application. We estimate that the timeframe for approval is no more than 90 days after receipt of the application. If an application is approved, credit and business terms for the financing are negotiated and the loan agreement is drafted. The estimated timeframe for execution of a credit agreement, on terms acceptable to the Secretary of Transportation, is approximately 60 days from approval of the application.

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Project Sponsor, State LOI Received Initial Eligibility Review (1) Creditworthiness Review (2) Application Review Credit Agreement Executed
Route 460 VDOT, VA 8/2/2012 Withdrawn from LOI Process      
I-77¬† NCDOT, NC 8/7/2012 Review complete Under review (3)    
Knik Arm Crossing KABATA, AK 8/14/2012 Legislative milestones to be completed      
Grand Parkway (SH 99) TxDOT, TX 8/22/2012 Review complete Review complete Review complete 2/6/2014
IH 35 E TxDOT, TX 8/22/2012 Review complete Review complete Review complete  
SH 288 TxDOT, TX 8/22/2012 Review complete Under review (3)    
Mid-Currituck Bridge NCDOT, NC 8/27/2012 Environmental and permitting milestones to be completed      
New NY Bridge /Tappan Zee Bridge Replacement  NYS Thruway Authority, NY 9/5/2012 Review complete Review complete Review complete 12/19/2013
CDA ConRAC ATS CDA, IL 9/7/2012 Review complete Review complete Review complete 8/21/2013
Northwest Corridor GDOT, GA 9/17/2012 Review complete Review complete Review complete 11/14/2013
Riverwalk/Wacker Drive Chicago DOT, IL 9/24/2012 Review complete Review complete Review complete 6/12/2013
Downtown Crossing (ORB) KPTIA, KY 9/27/2012 Review complete Review complete Review complete 12/12/2013
Kansas City Streetcars City of Kansas City, MO 9/28/2012 Review complete Documentation requested    
Iberville Redevelopment¬† City of New Orleans, LA 9/28/2012 Project scope milestones to be completed      
I-49 North LADOTD, LA 10/2/2012 Withdrawn from LOI Process      
Dulles Metrorail MWAA, VA 10/5/2012 Review complete Review complete Review complete 8/20/2014 (5)
LA 1 Toll Road LADOTD, LA 10/12/2012 Review complete Review complete Review complete 11/6/2013
Southeastern Tour Bus Southeastern Tours Inc., NC 10/24/2012 Not eligible      
Portsmouth Bypass ODOT, OH 11/2/2012 Review complete Under review (3)    
South Padre Island Crossing CCRMA, TX 11/12/2012 Procurement and Environmental milestones to be completed      
Westside Subway LACMTA, CA 11/21/2012 Review complete Review complete Review complete 5/21/2014
Regional Connector LACMTA, CA 11/21/2012 Review complete Review complete Review complete 2/20/2014
East Link Sound Transit, WA 12/5/2012 Review complete Review complete Review complete  
Southern Beltway PTC, PA 12/14/2012 Withdrawn from LOI Process      
US 301 DelDOT, DE 1/2/2013 Review complete Under review    
I-4 Ultimate Improvements FDOT, FL 1/16/2013 Review complete Review complete Review complete 9/4/2014
Thomas Roads Improvements City of Bakersfield, CA 2/22/2013 Procurement and Environmental milestones to be completed      
Advanced Driving Telurex LLC, AZ 4/19/2013 Not eligible      
Purple Line MDOT, MD 8/9/2013 Review complete Under review (3)    
CTA Railcars CTA, IL 8/19/2013 Review complete Under review    
Wekiva Parkway Central Florida Expressway Authority, FL 8/13/2013 Review complete Review complete Under review  
Project NEON Nevada DOT, NV 8/20/2013 Review complete Under review (3)    
Illiana Corridor - Illinois Portion Illinois DOT, IL 11/7/2013 Review complete Documentation requested    
Illiana Corridor - Indiana Portion Indiana Finance Authority, IN 11/12/2013 Review complete Under review(3)    
Gerald Desmond Bridge Port of Long Beach, CA 11/20/2013 Review complete Review complete Review complete 5/21/2014
SH 183 TxDOT, TX 12/29/2013(4) Feasibility study milestones to be completed      
East End Crossing (ORB) IFA, IN 3/26/2014(4) Review complete Under review    
Chesapeake Bay Bridge Tunnel Chesapeake Bay Bridge and Tunnel District, VA 4/3/2014 Feasibility study and Environmental milestones to be completed      
183 S CTRMA, TX 4/16/2014(4) Review complete Under review    
CTA Blue Line Project CTA, IL 6/24/2014 Review complete Review complete Documentation requested  
Tampa ConRAC Hillsborough Cnty Aviation Authority, FL 7/17/2014(4) Withdrawn from LOI Process      
Riverside Station Redevelopment Project MBTA, MA 7/23/2014 Under review      
Morgantown PRT Modernization Project WVU, WV 9/5/2014 Review complete Documentation requested    
CATS Blue Line Extension Project City of Charlotte, NC 11/14/2014 Under review      

(1) Milestones referenced under the initial eligibility review phase are independent of the TIFIA review and approval process.

(2) "Documentation requested" includes $100,000 deposit for DOT expenses, indicative rating letter, financial plan and model, and revenue feasibility study, and any other necessary information.

(3) Projects are going through a P3 procurement process and the TIFIA office has engaged early with the public sponsor; because of the procurement timeline, these letters of interest will take more time to reach financial close.

(4) Resubmission and update of an earlier LOI

(5) 8/20/14 date reflects MWAA loan closing

 

Federal Highway Administration | 1200 New Jersey Avenue, SE | Washington, DC 20590 | 202-366-4000
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