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United States Department of Transportation United States Department of Transportation

Airports

The Department of Transportation has previously provided TIFIA financing to support surface transportation projects at airports (such as consolidated rental car facilities and intermodal facilities).  

In addition, due to statutory changes, the Build America Bureau can now also consider TIFIA loans for projects that “…improve or construct public infrastructure that is located within walking distance of, and accessible to, a fixed guideway transit facility, passenger rail station, intercity bus station, or intermodal facility….”

We encourage early coordination with the Bureau, so that we can help identify applicable requirements.  As noted in the Credit Programs Guide, “…DOT expects recipients of TIFIA and RRIF credit assistance to comply with the domestic steel, iron, and other manufactured products content requirements of the applicable modal agency…”  The same applies to Prevailing Wage, DBE, and other applicable provisions.
 

Eligible Project Sponsors:

  • State DOTs
  • State Infrastructure Banks
  • Private Firms
  • Airport Authorities
  • County and Local Governments
  • Transportation Improvement Districts

Eligible Projects:

  • New or redesigned terminals
  • Consolidated Rental Car facilities
  • Transit, rail, and inter-city bus connections
  • People movers
  • Access roads
  • Baggage systems

Credit Products for Airport Projects

TIFIA:

  • Can finance up to 33% of eligible project costs
  • Requires dedicated revenue stream
  • Flexible amortization, up to 35 years
  • Repayment can be deferred for 5 years
  • No pre-payment penalty

Rural Project Initiative:

  • Can finance up to 49% of eligible  project costs
  • 1/2 the normal Treasury rate
  • Waiver of fees

 

Last updated: Tuesday, July 27, 2021