Transportation Revolving Loan Fund - Annual Program Summary
Purpose
The purpose of this program is to attract new funding into transportation, encourage innovative approaches to financing transportation projects, and help build needed transportation infrastructure by providing low-cost financing to eligible borrowers for transportation projects.
Customers and Services
The state, counties, cities, townships, and other governmental entities are eligible. The Public Facilities Authority (PFA) provides below-market rate loans to borrowers for transportation projects approved by the Minnesota Department of Transportation. When loans are repaid, the funds are returned to the Transportation Revolving Loan Fund, recycled, and used to finance additional projects.
Eligible projects include, but are not limited to, pre-design studies; acquisition of right-of-way; road and bridge maintenance, repair, improvement, or construction; enhancement items; rail and air safety projects; and transit capital projects.
Measures - Reporting period is state fiscal year (SFY), July 1 - June 30
SFY 2005 |
SFY 2006 |
SFY 2007 |
|
| Number of projects | 0 |
1 |
2 |
| Dollars awarded | 0 |
$3.9M |
$15.8M |
Funding Source and Allocation
Funding is from a mix of federal and state appropriations and PFA revenue bonds.
Statutory Authority
-- Minnesota Statutes, Chapter 446A.085
Contact Information
Jeff Freeman, Deputy Director, Public Facilities Authority
Phone: 651.259.7465 or toll-free: 800.657.3858; TTY: 651.296.3900
E-mail: Jeff.Freeman@state.mn.us
Website: www.deed.state.mn.us/community/assistance/pfa.htm
This information current as of January 2008. For more information on DEED programs, see the State of Minnesota budget pages.