U.S. DOT Secretary Ray LaHood Announces Availability of Expanded TIFIA Funding

On July 27, 2012, Transportation Secretary Ray LaHood announced the availability of up to $17 billion in federal loans for infrastructure projects.  The recently enacted surface transportation bill, MAP-21, expanded funding for the Transportation Infrastructure Finance and Innovation Act (TIFIA) loan and loan guarantee program to allow for over $1.7 billion in capital over the next two years, which can be used to support up to $17 billion in TIFIA loans.

Secretary LaHood also announced the establishment of the Project Finance Center (PFC) to provide technical assistance to help state and local government project sponsors analyze financial options for highway, transit, rail, intermodal and other surface transportation projects facing funding challenges.