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In response to the Fiscal Year 2012 Notice of Funding Availability (FY 2012 NOFA), DOT received 26 Letters of Interest (LOIs) seeking more than $13 billion in credit assistance to finance approximately $36 billion in infrastructure investment across the country. While TIFIA’s limited resources mean that not all of the LOIs can be selected, five projects are being invited to apply for credit assistance. These projects include: the I-95 HOT Lanes project in Northern Virginia; the North Tarrant Express Segments 3a and 3b project in Tarrant County, Texas; the Port of Long Beach Gerald Desmond Bridge project in Long Beach, California; the SR 91 Corridor Improvements project in Riverside County, California; and the US 36 Phase 2 project, between Denver and Boulder, Colorado. The projects invited to apply are well aligned with the TIFIA statutory selection criteria. The invitation to apply does not guarantee that the project will receive assistance. The Department will evaluate each project to determine its creditworthiness and negotiate acceptable terms for providing credit support. Links to the press releases for the five projects invited to apply for TIFIA credit assistance are provided below.
Read the I-95 HOT Lanes Project Press Release
Read the North Tarrant Express Segments 3a and 3b Project Press Release
Read the Port of Long Beach Gerald Desmond Bridge Project Press Release
Read the SR 91 Corridor Improvements Project Press Release
Read the US 36 Phase 2 Project Press Release
U.S. Transportation Secretary Ray LaHood today announced a $422 million loan to help provide congestion relief to drivers in Norfolk and Portsmouth, Va., by providing credit assistance for the construction of a new Midtown Tunnel and rehabilitating existing tunnels to provide congestion relief to area drivers.
Read the full Press Release. (April 13, 2012)
The Financial Policy Advisor will serve on the TIFIA Team of the Office of Innovative Program Delivery, and report to the Team Leader of the TIFIA Joint Program Office (JPO). As the expert policy advisor to management for the TIFIA Credit Program, this position will recommend credit policies that ensure both fair treatment of project borrowers and productive refinements to the TIFIA program. The ideal candidate for this position will be a senior finance expert who has negotiated transportation finance and/or infrastructure project finance credit agreements as practiced in domestic and international capital markets. This position is being filled at the GS-14 or 15 level and is located in Washington, DC. Salary range is $105,211.00 to $155,500.00 per year, based upon qualifications. The Financial Policy Advisory vacancy can be viewed at:
http://www.usajobs.gov/GetJob/ViewDetails/314048800 (FHWA.HIN-2012-0003 for external applicants) and http://www.usajobs.gov/GetJob/ViewDetails/313615900 (FHWA.HIN-2012-0002 for status candidates). To be considered, please follow specific application procedures on the announcements. PLEASE NOTE: More than one position may be filled from this vacancy announcement.
WASHINGTON - U.S. Transportation Secretary Ray LaHood today announced that the overwhelming demand for TIFIA (Transportation Infrastructure Finance and Innovation Act) program loans has greatly exceeded the dollars available, underscoring President Obama's call for greater transportation investment. The Department of Transportation received 26 TIFIA letters of interest exceeding $13 billion.
"President Obama has challenged us to build an economy that works for everyone, and the tremendous demand for TIFIA loans shows how much communities across America want to upgrade their roads, transit and rail," said Secretary LaHood. "We have critical transportation work that needs to be done and Americans who are ready to do the work."
Read the full Press Release. (February 15, 2012)
FY 2012 TIFIA Letters of Interest Submitted
U.S. Transportation Secretary Ray LaHood today announced a federal loan of up to $280 million to advance construction on the 30-mile Eagle P3 commuter rail project, which will significantly expand transportation choices in the greater Denver area.
The project is a two-pronged effort. The western segment of Eagle P3, known as the Gold Line, will serve the suburbs of Arvada and Wheat Ridge. The East Line will run from Denver's historic Union Station nearly 23 miles east to Denver International Airport and will connect to existing light rail and bus service. Both lines are under construction and roughly 4,700 construction-related jobs are expected to be generated by the work.
RTD is the first transit agency in the nation to successfully pursue a comprehensive public-private partnership, or P3, that draws on a mix of federal loans and grants and private investment to move major capital transit projects in the region forward. The partnership encompasses all phases of design, construction, financing, operation, and maintenance. Read Secretary LaHood's Press Release. (December 2, 2011)
The U.S. Department of Transportation (USDOT) Transportation Infrastructure Finance and Innovation Act (TIFIA) Joint Program Office (JPO) announces the availability of a limited amount of funding in fiscal year 2012 to provide credit assistance. Because demand for the TIFIA program exceeds budgetary resources, the DOT is utilizing periodic fixed-date solicitations that will establish a competitive group of projects to be evaluated against the program objectives. The Notice of Funding Availability (NOFA), published November 3, 2011, outlines the process that applicants must follow for consideration in this funding cycle. Letters of Interest must be submitted by 4:30 p.m. EST on December 30, 2011, using the revised form on the TIFIA web site: http://www.fhwa.dot.gov/ipd/tifia/guidance_applications/index.htm. Submit all Letters of Interest to the attention of Mr. Duane Callender via e-mail at: TIFIACredit@dot.gov.
U.S. Transportation Secretary Ray LaHood today announced a $54 million loan that will help pay for two additional lanes and the reconstruction of U.S. 36, bringing congestion relief to drivers in Colorado.
The Colorado Department of Transportation's High Performance Transportation Enterprise, the recipient of the loan, estimates that, once completed, the new and improved U.S. 36 will provide an estimated 25 minute time savings for drivers traveling between Boulder and Denver.
The project consists of a 10-mile segment of U.S. 36 from the northern end of the existing, reversible I-25 Express Lanes towards Boulder in the northwest. It includes construction of one new managed, high-occupancy-vehicle (HOV) lane in each direction and the reconstruction of the general purpose lanes for a total of six lanes. Read Secretary LaHood's Press Release. (September 1, 2011)
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