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The TIFIA Program Guide, application form and related materials are all currently under review and being revised to reflect MAP-21 changes. Please check the site regularly for updated information.
The Transportation Infrastructure Finance and Innovation Act (TIFIA) program provides Federal credit assistance in the form of direct loans, loan guarantees, and standby lines of credit to finance surface transportation projects of national and regional significance. TIFIA credit assistance provides improved access to capital markets, flexible repayment terms, and potentially more favorable interest rates than can be found in private capital markets for similar instruments. TIFIA can help advance qualified, large-scale projects that otherwise might be delayed or deferred because of size, complexity, or uncertainty over the timing of revenues. Many surface transportation projects - highway, transit, railroad, intermodal freight, and port access - are eligible for assistance. Each dollar of Federal funds can provide up to $10 in TIFIA credit assistance - and leverage $30 in transportation infrastructure investment.
Today's TIFIA Interest Rate
2.82%
for a 35-year loan as of Monday, October 1, 2011
183-A Turnpike - Austin, Texas
The 183-A Turnpike is an 11.6-mile controlled access north-south tolled highway east of the existing US 183 in metropolitan Austin. This regionally significant project connects to the Central Texas Turnpike System, previously funded in part with TIFIA credit assistance. 183-A was developed by the state's first Regional Mobility Authority - CTRMA - which was legislatively authorized in 2001 to form at the county level if a regional toll authority did not already exist to construct, operate, and maintain toll roads. A 5-mile extension is currently under construction.
Central Texas Turnpike System
The Central Texas Turnpike System (CTTS) is a new transportation network that improves overall traffic mobility, facilitates access to regional services, and increases travel safety for Central Texas residents, workers, and visitors. It consists of three contiguous toll highways serving the Austin metropolitan region and the Austin-San Antonio corridor: SH 45 North, Loop 1, and SH 130 (Segments 1-4). State and local funding sources were combined with a Federal TIFIA loan to finance the project.
Cooper River Bridge Replacement - Charleston, South Carolina
North America's longest cable stay span replaced the existing truss bridges connecting the City of Charleston and the Town of Mount Pleasant along Highway 17.
Denver Union Station - Denver, Colorado
The Denver Union Station project is a public-private development venture located on approximately 50 acres in lower downtown Denver. Redevelopment of the site as an intermodal transit district surrounded by transit-oriented development will include light and commuter rail stations, a regional bus facility, new transit service, and pedestrian improvements. The project is being sponsored by a public benefit corporation formed by the City of Denver and its elements will be transferred to the Regional Transportation District as they are completed. Financing includes TIFIA and RRIF loans, federal grants and stimulus funding, and state, regional, and local contributions.
Downtown Tunnel / Midtown Tunnel / MLK Extension - Cities of Norfolk and Portsmouth, Virginia
The Downtown Tunnel / Midtown Tunnel / MLK Extension consists of five construction components involving three facilities in the Hampton Roads region of Virginia. The $2.1 billion project will be built on a design, build, finance, operate, and maintain (DBFOM) concession basis by Elizabeth River Crossings OpCo, LLC (ERC) comprised of Skanska Infrastructure Development and Macquarie Group. ERC will operate the concession for 58 years. Tolling of the existing Midtown and Downtown Tunnels to help finance the project is expected to commence in late 2012.
Eagle Project - Denver Metro Area, Colorado
The East and Gold Line Enterprise (Eagle) Project is part of RTD's FasTracks, a voter-approved program to expand rail and bus transit throughout the Denver metropolitan region. The Eagle Project is being procured through a concession agreement between RTD and Denver Transit Partners to design, build, finance, operate, and maintain the project's components for 34 years.
I-495 Capital Beltway HOT Lanes - Fairfax County, Virginia
The I-495 Capital Beltway High Occupancy Toll (HOT) Lanes project is a P3 between VDOT and Capital Beltway Express, LLC, a joint venture of Fluor and Transurban. Improvements include 14 miles of twin HOT lanes in each direction, the replacement of more than 50 bridges and overpasses, and interchange upgrades. Financing includes the first-ever combination of TIFIA credit assistance and private activity bonds (PABs).
I-595 Corridor Roadway Improvements - Broward County, Florida
The I-595 Corridor Roadway Improvements project consists of the reconstruction and widening of 10.5 miles of the I-595 mainline from the I-75/Sawgrass Expressway to I-95. The project is being implemented as a P3 between FDOT and a private concessionaire, I-595 Express, LLC, to design, build, finance, operate, and maintain the roadway for a 35-year term. FDOT will make availability payments backed by Federal and state resources for the concessionaire's successful completion of construction and ongoing operations. The concessionaire's financing, backed by these availability payments, includes senior bank debt, a TIFIA loan, and private equity.
IH 635 Managed Lanes - Dallas County, Texas
The IH-635 (LBJ Freeway) Managed Lanes Project will relieve congestion north of Dallas on a 13-mile stretch of the LBJ Freeway with reconstruction of its main lanes and frontage roads and the addition of six managed lanes along I-635 (subsurface) and I-35E (elevated). The project is being built as a P3 (Comprehensive Development Agreement [CDA]) between TxDOT and LBJ Infrastructure Group, which will operate and maintain the facility for 52 years.
Intercounty Connector - Maryland
The Intercounty Connector (ICC) is a toll highway under construction in Maryland. The road will link existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County.
Interlink (formerly Warwick Intermodal Station) - Warwick, Rhode Island
Interlink is an intermodal project connecting air, rail, bus, automobiles, and rental cars at T.F. Green Airport in Warwick, RI that serves the Providence area and Southern Massachusetts. The project opened in October 2010 and was funded through federal and state grants, facility charges, and a TIFIA loan.
LA 1 Improvements - Leeville, Louisiana
The Louisiana Department of Transportation and Development (DOTD) is in the process of replacing a major portion of existing LA 1 highway near Leeville, Louisiana, with a lengthy, 18 mile bridge. This area of the state's sensitive wetlands has been featured nationally as being the victim of coastal erosion and ground subsidence, and the existing LA 1 highway is literally sinking.
Miami Intermodal Center - Florida
Located next to the Miami International Airport, the Miami Intermodal Center is a massive ground transportation hub being developed by the Florida Department of Transportation. To be completed by 2013, the MIC Program consists of a Rental Car Center, the Miami Central Station, major roadway improvements, the MIA Mover and a joint development component.
North Tarrant Express - Dallas-Fort Worth Metroplex
On June 23, 2009, TxDOT awarded two Comprehensive Development Agreements (CDAs - equivalent to public-private partnerships) for the North Tarrant Express project to NTE Mobility Partners. The Concession CDA for Phase 1 includes the design, development, construction, finance, maintenance, and operation of 13 miles along Interstate (IH) 820 and State Highway (SH) 121/SH 183 from IH 35W to SH 121, from north of Fort Worth to just southwest of Dallas-Fort Worth International Airport. The duration of the concession is 52 years.
Pocahontas Parkway / Richmond Airport Connector - Greater Richmond, Virginia
The Virginia I-895 Pocahontas Parkway high level crossing of the James River in Richmond, VA. This $354 million project was financed by tax-exempt toll revenue bonds issues by a 63-20 corporation. It is the first transportation project implemented under Virginia's Public-Private Transportation Act of 1995 (PPTA). The Parkway was leased to a private toll road operator in 2007. The deal defeased its underlying debt and included the construction of the 1.6-mile Richmond Airport Connector, which opened in January 2011.
Port of Miami Tunnel - Florida
The Port of Miami Tunnel will improve access to and from the Port of Miami, serving as a dedicated roadway connector linking the Port (located on an island in Biscayne Bay) with the MacArthur Causeway and I-395 on the mainland. The project is being developed as a P3 with Miami Access Tunnel, LLC (MAT). The state has agreed to pay for approximately 50 percent of the capital costs (design and construction) and all operations and maintenance, while the remaining 50 percent of the capital costs will be provided by the local governments. FDOT will make milestone payments to MAT at various stages of project development, followed by availability payments during a 30-year concession. Senior bank debt, a TIFIA loan, and private equity have been used to finance the project.
President George Bush Turnpike Western Extension (SH 161) - Dallas, Texas
State Highway (SH) 161, the President George Bush Turnpike Western Extension (PGBT WE), will provide a new, approximately 11.5-mile link between SH 183, I-30, and I-20 as part of a western loop around Dallas through the cities of Irving and Grand Prairie south of Dallas-Fort Worth International Airport. This toll road is being completed in four phases. The first three were constructed by TxDOT and the remaining phase and overall ownership and operation has become the responsibility of the North Texas Tollway Authority under a concession agreement signed in 2008.
Presidio Parkway - San Francisco, California
The Presidio Parkway project is a replacement of Doyle Drive, the southern access to the Golden Gate Bridge. The current structure, built in 1936, does not meet current highway standards and is seismically deficient. Through a competitive procurement process, Caltrans selected a private consortium, the Golden Link Concessionaire, to deliver Phase II as a design, build, finance, operate, and maintain (DBFOM) availability-pay concession. The P3 Project Agreement with GLC allows for milestone payments following substantial completion and quarterly availability payments through the concession period, based on performance.
Reno Transportation Rail Access Corridor (ReTRAC) - Reno, Nevada
Traffic congestion and safety concerns brought about the largest public works project ever undertaken in Northern Nevada, the Reno Transportation Rail Access Corridor, or ReTRAC. The project depressed a 2.3 mile stretch of freight rail that ran through downtown, eliminating 10 at-grade street crossings.
SH 130 (Segments 5-6) - Austin, Texas Metropolitan Area
When fully completed, SH 130 will be a four-lane, 91-mile toll road east and south of Austin designed to relieve congestion on the heavily traveled I-35, the primary north-south route through Central Texas. Segments 5-6 are 40 miles in length and are being constructed under a 50-year comprehensive development agreement between TxDOT and SH 130 Concession Company, LLC to design, build, finance, operate, and maintain the roadway.
South Bay Expressway (formerly SR 125 South) - San Diego County, California
The South Bay Expressway toll road is a 9.3-mile privately-funded southern extension of SR 125, extending from SR 905 near the International Border to SR 54 near Sweetwater Reservoir in San Diego, California. South Bay Expressway, L.P., holds a 35-year franchise with the State of California under which it financed and built the highway, then transferred ownership to the State. The concessionaire emerged from bankruptcy in April 2011 as South Bay Expressway, LLC with restructured debt that continues to include a TIFIA loan, the first used in a P3 financing.
Staten Island Ferries and Terminals - New York
The Staten Island Ferry provides 20 million people a year (60,000 passengers a day not including weekend days) with ferry service between St. George on Staten Island and Whitehall Street in lower Manhattan. With the help of a $159 million TIFIA loan, the project included the redevelopment of the two ferry terminals and the purchase of three ferry boats.
Transbay Transit Center - San Francisco, California
The Transbay Transit Center Project will replace the current Transbay Terminal with a new multi-modal transportation center and centralize the region's transportation network by accommodating nine transportation systems under one roof. The project consists of replacing the outdated Transbay Terminal with a modern transit hub, extending the Caltrain rail line from its current terminus, and redeveloping the area surrounding the Transbay Transit Center.
Tren Urbano - San Juan, Puerto Rico
The Tren Urbano is a 10.7-mile (17.2 km) fully automated rapid transit that serves the metropolitan area of San Juan, which includes the municipalities of San Juan, Bayamón, and Guaynabo. The Tren Urbano consists of 16 stations along a single line.
Triangle Expressway - Raleigh-Durham, North Carolina
The proposed 18.8-mile Triangle Expressway, comprised of three sections, will provide near-term congestion relief on existing north-south routes serving the Research Triangle Park (RTP) region (including I-40) between Raleigh and Durham. The project is being financed with toll and state revenue bonds and a $386 million TIFIA loan.
U.S. 36 Managed Lanes / Bus Rapid Transit Project: Segments 1 and 2 - Denver Metro Area, Colorado
A 10-mile stretch of U.S. 36, a four-lane divided highway connecting Denver and Boulder, will be reconstructed and augmented with a single HOT lane in each direction as part of an initial phase of planned upgrades over this 18-mile corridor. The $307 million design-build project will also include the reconstruction of three bridges, one interchange, accommodations for bus rapid transit, provision for ITS, and a bikeway. Financing includes a $54 million TIFIA loan facilitated by a TIGER grant, as well as a mixture of federal, state, and local funding, including $120 million from the Regional Transportation District's FasTracks program supported by a regional sales tax.
Washington Metro Capital Improvement Program - Washington, D.C.
The WMATA capital improvement program (CIP) replaced vehicles and rehabilitate facilities and equipment on the rail and bus systems. Individual components of the CIP include procurement of new buses and rail cars; major maintenance and rehabilitation of electrical and mechanical systems, communications, and track and structures to improve system-wide performance; escalator and elevator rehabilitation and other station enhancements; parking lot improvements; and upgrades to several maintenance facilities.
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