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<br />; <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br /> <br />-- <br /> <br />.. <br /> <br />o'~"'''I'O'' . <br />~ 2: <br />~ ~ <br />~+.. +.,..6 <br />0'''' <br /> <br />Minnesota Department ofTransportation <br /> <br />Metropolitan Division <br />Waters Edge <br />1500 West County Road B2 <br />Roseville, MN 55113 <br /> <br />July 28, 2000 <br /> <br />Dear Recipient: <br /> <br />The Metropolitan Division is soliciting candidate projects for funding through the Transportation <br />Revolving Loan Fund (TRLF). The deadline for submitting TRLF applications for this <br />solicitation is Friday, September 15,2000. <br /> <br />In 1995, the Federal government established the State Infrastructure Bank (SIB) program. <br />During the 1997 legislative session, MnlDOT proposed legislation that would create a SIB for <br />Minnesota. On May 12, 1997, this legislation, known as the Transportation Revolving Loan <br />Fund, was signed into law. <br /> <br />The purpose of the TRLF is to attract new funding into transportation, encourage innovative <br />approaches to financing transportation projects, and help build needed transportation <br />infrastructure. Operating much like a commercial bank, the TRLF provides loans or credit <br />enhancements (lines of credit, letters of credit, debt service guarantees) that can be used to <br />finance projects. <br /> <br />Borrowers eligible for the TRLF financing include the state, counties, cities, townships, and <br />other governmental entities with projects eligible for federal aid funding under Title 23- <br />Highways. Eligibleprojects include, but are not limited to: preliminary engineering activities, <br />right-of-way acquisition; road and bridge maintenance, repair, improvement, or construction; rail <br />safety projects and enhancement items. <br /> <br />Loans must be secured by a dedicated revenue stream from sources such as property taxes, sales <br />taxes, special assessments, future federal aid, or future state aid revenues. Repayments on such <br />loans and financing will be deposited back into the TRLF and used to finance another set of <br />projects, creating a continually expanding pool of transportation funding. <br /> <br />All proposals for the TRLF projects will ultimately be required to go through the Metro Division <br />Area Transportation Partnership (ATP) for approval and become a part of the State <br />Transportation Improvement Program (STIP). Proposals located within the seven county Twin <br />Cities boundary must ultimately obtain Metropolitan Council approval and be included in the <br />Metropolitan Council's Transportation Improvement Program (TIP). The ATP will submit a <br />prioritized list ofTRLF projects to MnlDOT's Office ofInvestment Management on <br />November 17, 2000. The Office of Investment Management will integrate the lists of projects <br /> <br />An equal opportunity employer <br />