U.S. Department of Transportation Announces Third Round of TIGER Funding
Posted in Financing

As discussed in our previous blog post, the U.S. Department of Transportation (USDOT) announced this week the availability of nearly $527 million in FY 2011 funds for the third round of USDOT’s wildly popular TIGER Discretionary Grant program.

Pre-applications for the funds are due by October 3, 2011, and final applications are due by October 31, 2011.  USDOT will host a half-day seminar and webcast providing information and guidance on the TIGER application process on July 18, 2011.

The TIGER program awards funds on a competitive basis to projects that will have a significant impact on the nation, a metropolitan area, or a region.  Unlike previous rounds, this third TIGER round does not provide funding for planning grants.  Additionally, TIGER applicants are now limited to three applications submitted as lead applicant this round.  Otherwise, all other material requirements and details of the two earlier TIGER funding rounds, including selection criteria, have not changed in this third round.

While USDOT will apportion the majority of these funds as discretionary grants, USDOT can use up to $150 million of this funding round to pay the subsidy and administrative costs of the TIFIA credit assistance program.  This $150 million could support approximately $1.5 billion in credit assistance under the TIFIA program.

USDOT requires applicants for TIGER TIFIA funds to both submit an application for this round of TIGER funding and a separate TIFIA letter of interest.  Additionally, USDOT reserves the right to offer TIFIA credit assistance to TIGER applicants who did not specifically request TIFIA funds.  Therefore, USDOT strongly recommends all TIGER applicants to consider the viability of their project for TIFIA credit assistance in addition to traditional discretionary grants.

More detailed information can be found in USDOT’s Interim Notice of Funding Availability, published in the July 1, 2011 Federal Register.

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Tags: Financing

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