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As part of its enactment of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU), P.L. 109-59 in 2005, Congress directed the Secretary of Transportation to submit a biannual report summarizing the financial performance of the projects receiving assistance under TIFIA. This TIFIA Report to Congress constitutes the fifth submission from the U.S. Department of Transportation (DOT). The report provides current financial performance on the TIFIA portfolio, information on the policy underpinnings of the TIFIA program, an overview of the benefits of TIFIA support for borrowers, and a summary of the status of all active TIFIA credit agreements. In addition to information noted above, the 2012 report to Congress also addresses issues that have arisen since the 2010 report was issued.
Pursuant to the recently enacted Moving Ahead for Progress in the 21st Century Act (MAP-21), DOT announced the availability of funding authorized in the amount of $1.75 billion ($750 million in Federal Fiscal Year (FY) 2013 funds and $1 billion in FY 2014 funds (and any funds that may be available from prior fiscal years)) to provide TIFIA credit assistance for eligible projects. Projects must meet statutorily specified eligibility criteria to receive credit assistance. The Notice of Funding Availability (NOFA), published on July 31, 2012, outlines the process that applicants must follow.
Letters of Interest must be submitted using the form on the TIFIA website:
http://www.fhwa.dot.gov/ipd/tifia/guidance_applications/index.htm.
DOT has revised the form for the Letter of Interest to reflect changes made to the TIFIA program by MAP-21. Submit all Letters of Interest via e-mail at: TIFIACredit@dot.gov.
U.S. Transportation Secretary Ray LaHood today announced the availability of up to $17 billion in loans for critical infrastructure projects across the country as a result of the recently enacted surface transportation bill. Secretary LaHood encouraged states and cities across the country to submit letters of interest for the TIFIA (Transportation Infrastructure Finance and Innovation Act) program, which provides direct loans, loan guarantees, and standby lines of credit to major infrastructure projects with the potential to create jobs and spur economic development and growth.
Read the Full Press Release (July 27, 2012)
Financial Policy Advisor: The Transportation Infrastructure Finance and Innovation Act (TIFIA) Team of the Office of Innovative Program Delivery, U.S. Department of Transportation (DOT), Federal Highway Administration (FHWA) is seeking applicants to serve on the TIFIA Joint Program Office (JPO) Team and serve as the expert policy advisor to management for the TIFIA Credit Program which provides significant financial assistance (to date, between $50 million and $900 million per transaction) to borrowers seeking to develop transportation projects of regional or national significance. As issues arise in individual transactions, the financial policy advisor recommends 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 - $155,500 per year, based upon qualifications. This Financial Policy Advisor vacancy announcement can be viewed at: http://www.usajobs.gov/GetJob/ViewDetails/321761900 (FHWA.HIN-2012-0005 for external applicants) or http://www.usajobs.gov/GetJob/ViewDetails/321760900 (FHWA.HIN-2012-0004 for status candidates). In order to be considered, please follow specific application procedures on the announcements.
PLEASE NOTE: Given our continuing need for top professionals in this field, we will review applications on Aug. 8th, Aug. 29th, Sept. 19th, Oct. 11th, Nov. 1st, Nov. 23rd, Dec. 14th, Jan. 4th and Jan. 21, 2013 (closing date). Following these dates, we will contact qualified applicants to schedule interviews. We will give equal consideration to all applications we receive. More than one position may be filled from this vacancy announcement.
U.S. Transportation Secretary Ray LaHood announced today the approval of $150 million in credit assistance to help California build the second phase of the Presidio Parkway, a new 1.6-mile, six-lane roadway that will improve the connection between San Francisco and the Golden Gate Bridge and replace the existing Doyle Drive. The project will improve seismic and traffic safety.
Read the Presidio Parkway Press Release (June 15, 2012)
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