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Georgia Transportation Infrastructure Bank
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This presentation was given at the Southern Georgia Regional Commission Council meeting on July 25, 2013. It uses slides from the Georgia State Road and Tollway Authority for the content regarding the …

This presentation was given at the Southern Georgia Regional Commission Council meeting on July 25, 2013. It uses slides from the Georgia State Road and Tollway Authority for the content regarding the Georgia Transportation Infrastructure Bank details.

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  • 1. Southern Georgia Regional Commission Georgia Transportation Infrastructure Bank SGRC Council – July 25, 2013
  • 2. Georgia Transportation Infrastructure Bank (GTIB) Bert Brantley Deputy Executive Director State Road and Tollway Authority STATE ROAD AND TOLLWAY AUTHORITY
  • 3. 3  Established by House Bill 1019 in April 2008 and policies approved by SRTA’s Board of Directors on June 29, 2009  Created a revolving infrastructure investment fund that provides grants and loans to community improvement districts (CIDs) and state, regional and local government entities  Funds much-needed transportation improvement projects and adds economic value to local communities, boosts local economies and strengthens local transportation networks  2/3rds of all states have SIB programs GTIB History
  • 4. 4 GTIB Objectives • Create a self-funding revolving loan program • Increase viability for projects limited by traditional funding sources • Advance and accelerate projects with a strong match component • Continue to add transportation and economic value to the State • Encourage innovation
  • 5. Valdosta – Lowndes Metropolitan Planning Organization Loan and Grant Basics • Applicants – Cities, Counties, CIDs, or combinations; state authorities, boards, commissions, agency or departments • Costs – PE, Studies, ROW, other services, construction, maintenance • Motor-fuel eligible projects – No transit or airport • No Match Required*
  • 6. Valdosta – Lowndes Metropolitan Planning Organization GTIB Matching Funds • GTIB intended to be last piece of puzzle • Projects with out matching funds are not competitive – Multiple, Innovative funding methods encouraged – Match should include funds other than state motor-fuel funds (LMIG) to be competitive
  • 7. Valdosta – Lowndes Metropolitan Planning Organization GTIB Loan Program • Additional Financial Documentation • Application and Loan Closing Fees • Low interest rates based on State’s borrowing costs • Maximum amount of 25% of annual appropriation • 5-20 year term w/prepay • 5 year spend down
  • 8. Valdosta – Lowndes Metropolitan Planning Organization GTIB Grant Program • Application Fee • No minimum or maximum • Awards typically under $1M, may not get entire request
  • 9. Georgia Transportation Infrastructure Bank Project Award Locations Stone Mountain CID (Safety Enhancements) Midtown Improvement District (Midtown Gateway Bridge Improvements) Cumberland CID (Windy Hill Rd Improvements and Cumberland Pkwy/Paces Ferry Rd Int.) Gwinnett Place CID (I-85/Pleasant Hill Rd DDI ) Evermore CID (Old Hwy 78 at Walton Ct and New Connector Street Project) Buckhead CID (GA400 Multi-use Trail and Peachtree Rd. Phase 3) North Fulton CID (Encore Pkwy, Westside Pkwy to North Point Pkwy and Mansell Rd at North Point Pkwy Int.) Atlanta Downtown (ADID) (I-75/85 Downtown Connector Gateway Bridge Improvements and Traffic Signal Upgrades & Retiming) City of Clarkston (E Ponce de Leon Ave & Church St) Gwinnett Village CID (Jimmy Carter Blvd at I-85 DDI and Jimmy Carter at Singleton Rd Int.) Lilburn CID (Main St. Realignment) DeKalb (Central) Perimeter CID (Ashford Dunwoody DDI) Fulton Perimeter CID (Lake Hearn and Peachtree Dunwoody Rd) Town Center Area CID (Big Shanty Connector Phase II) South Fulton CID (Oakley Industrial Blvd)
  • 10. 10 Project Award Highlights  Awarded approximately $20 million in grants and loans since the program’s inception to CIDs and Local Governments  Total project value of more than $100 million dollars  Funding awarded for a variety of transportation infrastructure improvements—examples include:  Diverging Diamond Interchanges (Central Perimeter CID, Gwinnett Place CID, & Gwinnett Village CID)  New Road Construction (Town Center Area CID- Big Shanty)  Traffic Signal Upgrades & Retiming (Atlanta Downtown Improvement District)  Intersection Improvements (North Fulton CID-Mansell Road) Diverging Diamond Traffic Signal Safety Improvements
  • 11. 11 Grant Application Review and Selection Application _________ _________ _________ _________ _________ Government Units Including: Counties, Cities, CIDs, Regional Planning Units & Transit Agencies (restricted by funding sources) Applicant • Reviews application • Decides on a recommendation given a set of selection criteria Advisory CommitteeSRTA Board • Reviews Advisory Committee Recommendations • Approval and grant awards SRTA Staff • Coordinates Documents • Handles operational procedures • Receives applications • Checks for conformity with all requirements and policy SRTA Staff • Organizes information for Advisory Committee (GDOT, Office of the Governor, GSFIC, OPB, GRTA, ACCG, GEFA, and GMA)(Governor, GDOT Commissioner, Lt. Gov. Appointee, Speaker of the House Appointee, OPB Director
  • 12. 12 Loan Application Review and Selection •Evaluates GEFA Analysis •Organizes information for Advisory Committee SRTA Staff Application _________ _________ _________ _________ _________ Government Units Including: Counties, Cities, CIDs, Regional Planning Units & Transit Agencies (restricted by funding sources) Applicant GEFA Review • Financial Analysis: -Credit Strength of Applicant -Strength of Revenue Source -Adequacy of coverage • Reviews application • Decides on a recommendation given a set of selection criteria Advisory CommitteeSRTA Board • Reviews Advisory Committee Recommendations • Approval and loan awards SRTA Staff • Coordinates Loan Documents • Finalizes loan schedule • Handles operational procedures • Monitors Loan • Receives applications • Checks for conformity with all requirements and policy SRTA Staff (Governor, GDOT Commissioner, Lt. Gov. Appointee, Speaker of the House Appointee, OPB Director (GDOT, Office of the Governor, GSFIC, OPB, GRTA, ACCG, GEFA, and GMA)
  • 13. Call for Projects - August thru September 2013 13 Funding Availability Loan Program Grant Program Total Total Funds Remaining to Award $9,387,767 $15,990,143 $25,377,910
  • 14. State Road and Tollway Authority 47 Trinity Avenue SW, 4th floor Atlanta, GA 30334 (404) 893-6100 Bert Brantley, Deputy Executive Director (Office) 404-893-6126 (Fax) 404-893-6144 Email: bbrantley@georgiatolls.com Barry Zgonena Email: bzgonena@georgiatolls.com
  • 15. Valdosta – Lowndes Metropolitan Planning Organization SGRC Contacts Corey Hull chull@sgrc.us Kimberly Hobbs khobbs@sgrc.us 229-333-5277