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U.S. Department of Transportation Announces up to $19.92 million in TIFIA Loan Credit Assistance for the Vine Bus Maintenance Facility Project

Tuesday, December 7, 2021

WASHINGTON – U.S. Transportation Secretary Pete Buttigieg today announced that the U.S. Department of Transportation (DOT) has provided a direct Transportation Infrastructure Finance and Innovation Act (TIFIA) 35-year loan of up to $19.92 million under its Rural Projects Initiative (RPI) to Napa Valley Transportation Authority (NVTA) for the Vine Bus Maintenance Facility Project (the Project). The DOT provides TIFIA and other surface transportation infrastructure financing through its Build America Bureau. 

NVTA plans to construct a 31,504–square foot transit maintenance facility with a 40-year useful life to replace its currently leased transit yard in the city of Napa, California, providing NVTA a facility that meets its needs, including charging infrastructure for NVTA’s new electric bus fleet.

“The new bus facility will help modernize Napa Valley transit buses as they transition to electric,” said Secretary Buttigieg. “This project will invest in the community’s infrastructure, create jobs, improve safety and combat climate change.” 

The Project will provide a variety of benefits including addressing growing transit needs to reduce emissions from single occupancy vehicles, improving operational efficiencies and safety of fleet management and providing photovoltaic system to support electric vehicles zero-emission targets. The Project will also create 624 direct and indirect jobs and spur growth/development in the area.

“The Bureau is pleased to work with the Napa Valley Transportation Authority to bring this project to fruition through low-interest, long-term financing,” said Build America Bureau Executive Director Morteza Farajian. “The new TIFIA Rural Projects Initiative provides affordable options for communities to move critical projects forward.”  

The Build America Bureau was established as a “one-stop-shop” during the Obama Administration to help states and other project sponsors carry out infrastructure projects. The Bureau offers credit programs, technical assistance, and best practices in project planning, financing, delivery, and operation. The Bipartisan Infrastructure Law, signed by President Biden in November 2021, expands project eligibility for the Bureau’s TIFIA credit program and extends maturity of the loans, giving borrowers additional flexibility.
The TIFIA RPI helps improve transportation infrastructure in America’s rural communities. Under this initiative, if a project sponsor is in a rural area of no more than 150,000 people and has an eligible surface transportation project between $10 million and $100 million in cost, the Bureau can offer some significant savings over traditional TIFIA loans and other commercial financing products, including:

  • Loans for up to 49 percent of the project’s eligible costs (compared to 33 percent under traditional TIFIA). 
  • Fixed interest rates equal to one half of the U.S. Treasury rate of equivalent maturity of the loan at the time of closing (traditional TIFIA loans have interest rates equal to the U.S. Treasury rate at the time of closing). 

For more information, please visit the Bureau’s website on RPI. The U.S. Department of Transportation has closed $36.2 billion in TIFIA financings, supporting more than $123.1 billion in infrastructure investment across the country.