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Letters of Interest & Applications

TIFIA Review and Approval Process
(As of June 14, 2013)

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
183 S	CTRMA, TX	8/1/2012	Environmental and feasibility study milestones to be completed	N/A	N/A	N/A
Route 460	VDOT, VA	8/2/2012	Under review
I-77	NCDOT, NC	8/7/2012	Review complete	Under review
Knik Arm Crossing	KABATA, AK	8/14/2012	Legislative milestones to be completed	N/A	N/A	N/A
Grand Parkway (SH 99)	TxDOT, TX	8/22/2012	Review complete	Under review
IH 35 E	TxDOT, TX	8/22/2012	Review complete	Documentation requested
SH 183	TxDOT, TX	8/22/2012	Project scope milestones to be completed	N/A	N/A	N/A
SH 288	TxDOT, TX	8/22/2012	Under review
Mid-Currituck Bridge	NCDOT, NC	8/27/2012	Environmental and permitting milestones to be completed	N/A	N/A	N/A
Tappan Zee Bridge	NYS Thruway Authority, NY	9/5/2012	Review complete	Under review
CDA ConRAC ATS	CDA, IL	9/7/2012	Review complete	Review complete	Documentation Requested
Northwest Corridor	GDOT, GA	9/17/2012	Review complete	Under review
Riverwalk/Wacker Drive	Chicago DOT, IL	9/24/2012	Review complete	Review complete	Review complete	6/12/2013
East End Crossing (ORB)	IFA, IN	9/25/2012	Additional information requested on plan of finance
Downtown Crossing (ORB)	KPTIA, KY	9/27/2012	Review complete	Documentation requested
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	N/A	N/A	N/A
I-49 North	LADOTD, LA	10/2/2012	Withdrawn from LOI Process	N/A	N/A	N/A
Dulles Metrorail	MWAA, VA	10/5/2012	Review complete	Documentation requested
LA 1 Toll Road	LADOTD, LA	10/12/2012	Review complete	Under review
Southeastern Tour Bus	Southeastern Tours Inc., NC	10/24/2012	Not eligible	N/A	N/A	N/A
Portsmouth Bypass	ODOT, OH	11/2/2012	Under review
South Padre Island Crossing	CCRMA, TX	11/12/2012	Procurement and Environmental milestones to be completed	N/A	N/A	N/A
Westside Subway	LACMTA, CA	11/21/2012	Review complete	Under review
Regional Connector	LACMTA, CA	11/21/2012	Review complete	Under review
East Link	Sound Transit, WA	12/5/2012	Review complete	Documentation requested
Southern Beltway	PTC, PA	12/14/2012	Legislative funding milestones to be completed	N/A	N/A	N/A
US 301	DelDOT, DE	1/2/2013	Review complete	Documentation requested
I-4 Ultimate Improvements	FDOT, FL	1/16/2013	Review complete	Documentation requested
Thomas Roads Improvements	City of Bakersfield, CA	2/22/2013	Procurement and Environmental milestones to be completed	N/A	N/A	N/A
Advanced Driving	Telurex LLC, AZ	4/19/2013	Not eligible	N/A	N/A	N/A

(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.