Georgia to provide $15M for transportation projects

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The Georgia Transportation Infrastructure Bank (GTIB) program will provide up to $15 million in loan and grant funding for transportation improvement projects.

This is the 11th round of investments through the GTIB program.

Loans and projects with both a loan and grant will receive priority funding. The loan serves as part of the applicant’s matching funds when a loan is combined with a grant.

Preference also will be given to grants for projects that would provide economic development benefits and have a high degree of matching funds.

The State Road & Tollway Authority makes the final loan and grant approvals.

Applications will be evaluated based on several criteria including economic impact, engineering value, local matching funds, project feasibility and proximity to construction.

For grant requests under $2 million, there is no funding cap, but applicants are encouraged to provide as much of a local match as possible. For grant requests of $2 million or more, there is a 33 percent maximum that can be applied to the total project value.

Loan applications have no caps, and the loan payback serves as the local match.

Projects are limited to road and bridge projects including associated bicycle, pedestrian, and traffic control infrastructure.

Applications will be accepted through Jan. 25.