MAP-21 and Transportation Financing under the TIFIA Credit Program
Presented August 1 and 3, 2012
TIFIA under MAP-21
- Significant increase in funding from $122 million authorized annually in SAFETEA-LU:
- $750 million in Federal fiscal year (FFY) 2013
- $1 billion in FFY 2014
- Based on historic subsidy costs, each $1 in budget authority can leverage on average $10 in credit assistance (actual amount can vary widely by project).
- TIFIA investment could result in up to $50 billion in Federal, state, local and private sector investment in critical infrastructure investment.
- Notice of funding availability released on July 27, 2012 outlines TIFIA eligibility and application process in light of MAP-21.
- DOT is able to provide TIFIA credit assistance across a broad range of project types (see MAP-21 for more detail):
- Highway, passenger rail, transit and certain intermodal projects
- Certain freight rail facilities and facilities to access them
- Surface transportation infrastructure modifications necessary to facilitate direct intermodal transfer and access into and out of a port terminal
- Intelligent transportation systems
- International bridges and tunnels
- Intercity passenger bus or rail facilities and vehicles
- Groups of related eligible transportation projects secured by a common pledge
- Project sponsors should first submit letters of interest (LOI) using the form available on TIFIA's website. LOIs may be submitted at any time.
- Letters of interest must demonstrate satisfaction of MAP-21's eligibility requirements.
- DOT will review LOIs and request further information as necessary.
- Upon completion of the review and a determination of eligibility, DOT will invite an application for credit assistance.
In light of the changes to TIFIA under MAP-21, what types of projects are you considering that DOT may not be aware of?
What other types of information and outreach would be helpful in understanding DOT's credit assistance under TIFIA?
Submit Comments until September 1st
Additional Information and Letters of Interest
Other MAP-21 Issues: