Utah's State Infrastructur Bank (Experience & Perspectives)

1. FHWA Regional Technical Workshop Utah’s State Infrastructure Bank (Experience & Perspectives) New Orleans Louisiana August 10, 2011

2. Utah’s State Infrastructure Bank • Authority Granted by The Utah State Legislature • Administrative Rule Adopted • Guidelines Developed

3. Utah’s State Infrastructure Bank • Authority Granted by The Utah State Legislature – Transportation Infrastructure Loan Fund: – 72-2-201 Definitions – 72-2-202 Transportation Infrastructure Loan Fund -- Creation -- Use of money. – 72-2-203 Loans and assistance -- Authority -- Rulemaking. – 72-2-204 Loan program procedures -- Repayment. – 72-2-205 Loan contracts of state agencies. – 72-2-206 Department authority to contract. • Web Link: • http://le.utah.gov/UtahCode/section.jsp?code=72-2

4. Utah’s State Infrastructure Bank • Administrative Rule R940-3 Procedures for Transportation Infrastructure Loan Fund Assistance. – R940-3-1 Purpose and Authority – R940-3-2 Definitions – R940-3-2 Commission Responsibilities – R940-3-2 Conditions for Assistance or Loans • Web Link: • http://www.rules.utah.gov/publicat/code/r940/r940-003.htm#T3

5. Utah’s State Infrastructure Bank • State Infrastructure Bank Loan Fund Guidelines (Transportation Commission Approving Body) – No one entity can barrow more the 25% of the fund – Fix Rate, Tied to the State of Utah Bonding Rate and Loan Term – Prioritization Criteria

6. Utah’s State Infrastructure Bank • Completed SIB Loan: Logan City, Utah Payment Date Principle Interest Total Payment Balance January 15, 2007 $18,063 $18,063 $850,000 July 15, 2007 $156,152 $18,063 $174,215 $693,848 January 15, 2008 $14,744 $14,744 $693,848 July 15, 2008 $162,788 $14,744 $177,532 $531,060 January 15, 2009 $11,285 $11,285 $531,060 July 15, 2009 $169,706 $11,285 $180,991 $361,354 January 15, 2010 $7,679 $7,679 $361,354 July 15, 2010 $176,919 $7,679 $184,598 $184,435 January 15, 2011 $3,919 $3,919 $184,435 July 15, 2011 $184,435 $3,919 $188,354 0

11. Utah’s State Infrastructure Bank • Completed SIB Loan: Logan City, Utah January 9, 2007 $18,063 July 27, 2007 174,215 January 31, 2008 14,744 August 18, 2008 708,592 Total Amount Paid $915,614 Original Loan = $850,000 Additional Funding Into The SIB from Interest = $65,614

12. Utah’s State Infrastructure Bank • Active SIB Loan: St. George City – Loan Agreement Loan Amount 3,726,924 Interest Rate 2.75% Total # of Periods 5 Payment per Period $ 807,990.86 Total Interest Paid $ 313,030.31

13. Utah’s State Infrastructure Bank • Active SIB Loan: St. George City, Utah – Amortization Schedule Payment Cumulative Principal Period Amount Interest Interest Principal Paid Balance $ 3,726,924.00 1 807,990.86 102,490.41 102,490.41 705,500.45 705,500.45 3,021,423.55 2 807,990.86 83,089.15 185,579.56 724,901.72 1,430,402.17 2,296,521.83 3 807,990.86 63,154.35 248,733.91 744,836.51 2,175,238.68 1,551,685.32 4 807,990.86 42,671.35 291,405.25 765,319.52 2,940,558.20 786,365.80 5 807,990.86 21,625.06 313,030.31 786,365.80 3,726,924.00 0.00

14. Utah State Infrastructure Bank (Balance History) $4.5M $4.0M $3.5M $3.0M $2.5M $2.0M $1.5M $1.0M $0.5M $0.0M 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 -$0.5M Actual Balance Projected Balance

18. Utah State Infrastructure Bank (Balance History) Projected Balance $4.5M $4.0M $3.5M $3.0M $2.5M $2.0M $1.5M $1.0M $0.5M $0.0M 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 -$0.5M Actual Balance Projected Balance

19. FHWA Regional Technical Workshop Questions? New Orleans Louisiana August 10, 2011

Utah's State Infrastructur Bank (Experience & Perspectives)

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