The U.S. Department of Transportation has announced it is making available $17 billion in loans for critical infrastructure projects. The loans are part of an expansion of the Transportation Infrastructure Finance and Innovation Act (TIFIA) program in the recently approved MAP-21 transportation bill.
MAP-21 provided a large increase in the TIFIA program, which provides direct loans, loan guarantees, and standby lines of credit to major infrastructure projects.
Since its inception, the TIFIA program has used $9.2 billion in funding to leverage more than $36.4 billion in private and other capital to help build 27 major transportation projects around the country.
Arnold Weinfeld is Director of Strategic Initiatives and Federal Affairs for the Michigan Municipal League. He can be reached at 517-908-0304 or by e-mail.