TIFIA Expedited Loan Transaction
In order to facilitate innovative financing transactions, the DOT intends to develop an expedited process for execution of TIFIA loans for certain eligible highway projects developed pursuant to concession agreements with senior bank and/or bond debt facilities. To the extent applicants choose to take advantage of the expedited process, utilizing standard documents and terms, the DOT will commit to execute a final loan agreement within 45 days of the applicant’s agreement to all of the terms and conditions contained in a template term sheet and a template loan agreement. Drafts of these template documents are available via the links listed below.
The DOT seeks public comment regarding the suitability of these terms for an expedited process. In addition, the DOT seeks public comment regarding the terms that would need to be amended to incorporate eligible transit projects developed pursuant to concession agreements.
Comments must be received on or before October 20, 2008.
- Federal Register Notice (pdf) (website link)
- Term Sheet (word document) (pdf)
- Loan Agreement (word document) (pdf)
- Website link to Docket / Feedback Mechanism – The USDOT invites public comments on the Expedited Process for Execution of TIFIA Loans. Please submit your comments online through the U.S. Document Management System (DMS).
DMS Instructions:
- Under the "More Search Options" tab on the right side of the www.regulations.gov home page, click on "Advanced Docket Search."
- Type FHWA-2008-0128 in the field next to "Docket ID" and click "Submit". The "Credit Assistance for Surface Transportation Projects; Expedited Process for Execution of TIFIA Loans" docket will be displayed in the search results.
- Click on the docket number link on the left and the full docket will be displayed.
- To submit a comment, click the "add comments" icon on the far right of the page's document entry. Follow the instructions on that page to submit your comments.