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U.S. Department of Transportation U.S. Department of Transportation Icon United States Department of Transportation United States Department of Transportation

Airports

Welcome to the Build America Bureau's page about airport financing through the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Our team is ready to help you determine if a TIFIA loan is right for you. Airport projects were added to the TIFIA authority under the Infrastructure Investment and Jobs Act of 2021 and can apply through September 30, 2025. Contact us at BuildAmerica@dot.gov.

Page Contents:

Eligibility

Fact Sheet

Webinar

Case Study: Sacramento Airport

Frequently Asked Questions

 

Eligibility

Projects eligible under the Passenger Facility Charge (PFC) statute (49 U.S.C. 40117(a)) are eligible for TIFIA – this can include terminal buildings, airfield construction projects (runways, taxiways, aprons, etc.), airport entrance roads, land acquisition, airfield rescue and firefighting (ARFF) facilities, airport people mover systems, and many other projects.  Projects generally eligible under FAA’s Airport Improvement Program (AIP) are also eligible.
Please note that since exclusive-use facilities (for example, a one operator cargo building) and non-public/revenue generating space in terminal buildings are not PFC eligible, they are also not TIFIA eligible. 

With the passage of the Infrastructure Investment and Jobs Act (IIJA), the Build America Bureau can consider Transportation Infrastructure Finance and Innovation Act (TIFIA) loans for airport-related projects, as defined in section 40117(a) of title 49. In addition, the Bureau can consider TIFIA or RRIF loans to support surface transportation projects at airports (such as consolidated rental car facilities and intermodal facilities) through other eligibilities as well. We encourage early coordination with the Bureau so that we can help identify applicable requirements and potential opportunities.  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 Entities
  • Airport Authorities
  • County and Local Governments
  • Transportation Improvement Districts

Eligible projects under the IIJA:

  • Airport development, as defined at 49 USC 47102(3), undertaken by the sponsor, owner, or operator of a public-use airport
  • Airport terminal development, as defined at 49 USC 47102(28), including gates, access roads, and more
  • Noise compatibility measures, eligible under 49 USC 47504
  • Converting vehicles and ground support equipment to low-emission technology, as defined at 49 USC 47102(12)

Eligible projects under other TIFIA eligibility:

  • Consolidated rental car facilities
  • Transit/rail facilities

Credit Assistance for Airport Projects

TIFIA:

  • Borrow up to 33 percent of total eligible project costs
  • Low fixed interest rates equal to Treasury rates with maturities most equivalent to the term of the loan (typical 35-year loan = 30-year Treasury rate) 
  • Requires dedicated revenue source
  • Flexible amortization, up to 75 years for some projects
  • Accrues interest when funds are drawn
  • Optional five-year repayment deferral after substantial completion
  • No pre-payment penalty

Rural Project Initiative:

  • Not in an urban area or in one that has less than 150,000 population 
  • Borrow up to 49 percent of total eligible project costs
  • Lower fixed interest rates at 1/2 the normal Treasury rate
  • Total eligible project costs must be between $10M and $100M
  • Waiver of advisor fees for projects with total eligible project costs under $75M

Airports and TIFIA Fact Sheet

Click on the image to access the fact sheet:​

document with information about airport federal financing

​

View the webinar: Are low-interest Federal Loans Right for Your Airport Project?

Use this code*: &yX3PP$P to view the webinar or review the slides. 

*Disclaimer: All webinar cloud recordings require a passcode and cannot be removed per DOT guidelines.  

 

Case Study: Sacramento (SMF) Airport

The Bureau closed the first TIFIA loan for an airport in January 2025 - a $36.1 million loan to the Sacramento International Airport (SMF) for a sky bridge to connect travelers from its Terminal B to Concourse B. For more information, please watch the video below with the Bureau's Executive Director Morteza Farajian and Cindy Nichol, Director of Airports, Sacramento County Airport System. 

 

 


Frequently Asked Questions


 

Last updated: Wednesday, April 2, 2025