US DOT manages several programs that provide project finance assistance to State, local, and private project sponsors, reducing project costs and increasing flexibility. Project finance gives State and local project sponsors the ability to accelerate the delivery of needed infrastructure projects, often in partnership with private sector investors. A combination of several of the options below funded some successful projects, such as Denver’s Union Station.
Credit Programs
TIFIA - The Transportation Infrastructure Finance and Innovation Act (TIFIA) program provides Federal credit assistance to finance surface transportation projects in the form of:
- Direct loans
- Loan guarantees
- Standby lines of credit.
Learn more about how TIFIA can help communities more quickly complete their active transportation networks by watching our Federal Financing for Active Transportation Networks webinar (originally aired April 27, 2016).
As of June 1, 2015, TIFIA loans have supported 53 projects with more than $22 billion in credit assistance, contributing to nearly $80 billion in infrastructure investment.
Railroad Rehabilitation and Improvement Financing (RRIF) – The RRIF program provides direct loans and loan guarantees up to $35.0 billion to finance development of railroad infrastructure. The Department has made 35 RRIF loans totaling approximately $2.67 billion.
Bonds
Private Activity Bonds – The Private Activity Bonds (PABs) program allows us to allocate authority to public conduit issuers to issue tax-exempt bonds on behalf of private entities constructing eligible highway and freight transfer facilities. As of May 12, 2015, nearly $5.8 billion in PABS have been issued.
Grants
All US DOT Grants - Learn about the large number of programs and grants to eligible recipients for:
- Planning
- Vehicle purchases
- Facility construction
- Operations
- Other purposes
TIGER - The Transportation Investment Generating Economic Recovery, or “TIGER”, Discretionary Grant program provides a unique opportunity for the DOT to invest in road, rail, transit and port projects that promise to achieve critical national objectives. Since 2009, Congress has dedicated more than $4.1 billion for six rounds of funding.
Capital Investment Grant Program - The Federal Transit Administration’s Fixed Guideway Capital Investment Grants, or “New Starts”, provides grants for new and expanded rail, bus rapid transit, and ferry systems that reflect local priorities to improve transportation options in key corridors.
Federal Policy
FAST Act: https://www.transportation.gov/fastact