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CURRENTLY CLOSED FOR APPLICATIONS
SIB funds for the upcoming application cycle will not be available until
July 1, 2013. Anticipated application dates for federal/state
eligible production-ready projects in Fiscal Year 2013/14 are as follows:
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APPLICATION AND AWARD DATES ARE PRELIMINARY AND SUBJECT TO
CHANGE
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Open for Applications
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Closed
for Applications
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Tentative Awards Announced
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July 2, 2012
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August
31, 2012
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October 31, 2012
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Applications are accepted for federal and state eligible projects during
the published advertisement period via the department's on-line
application process. Application and award dates are preliminary and
subject to change. Awards are contingent upon legislative/budget
appropriation, negotiation of the SIB loan agreement and successful
issuance of SIB revenue bonds/bonding requirements, if necessary.
The State
Infrastructure Bank (SIB) is a revolving loan and credit enhancement
program consisting of two separate accounts and is used to leverage
funds to improve project feasibility. The SIB can provide loans and
other assistance to public or private entities carrying out or proposing
to carry out projects eligible for assistance under federal and state
law. The SIB cannot provide assistance in the form of a grant.
The
federally-funded account is capitalized by federal money matched with
state money as required by law under the Safe, Accountable, Flexible,
and Efficient Transportation Equity Act: A legacy for Users (SAFETEA-LU).
All repayments are repaid to the federally-funded SIB account and
revolved for future loans. Projects must be eligible for assistance
under title 23, United States Code (USC) or capital projects as defined
in Section 5302 or title 49 USC. Projects must be included in the
adopted comprehensive plans of the applicable Metropolitan Planning
Organization (MPO) and must conform to all federal and state laws, rules
and standards.
The
state-funded account is capitalized by state money and bond proceeds per
Sections 339.55, F.S. and 215.617, F.S. All repayments are repaid to
the State Board of Administration where debt service is paid on any
outstanding bonds with the remainder returned to the state-funded
account and revolved for future loans. Projects must be on the State
Highway System or provide increased mobility on the State's
transportation system, or provide intermodal connectivity with airports,
seaports, rail facilities and other transportation terminals. Also
eligible are projects of the Transportation Regional Incentive Program
(TRIP) per Section 339.2819(4), F.S. Projects must be consistent, to
the maximum extent feasible, with local Metropolitan Planning
Organizations (MPO) and local government comprehensive plans and must
conform to policies and procedures within applicable Florida Statutes
and other appropriate state standards for the transportation system.
The state-funded account also allows for the lending of capital costs or
to provide credit enhancements for emergency loans for damages incurred
on public-use commercial deepwater seaports, public-use airports, and
other public-use transit and intermodal facilities that are within an
area that is part of an official state declaration of emergency per
Chapter 252, F.S. and other applicable laws. |
