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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

Site Notification

Site Notification

San Luis Obispo Regional Transit Authority Operations & Maintenance Facility Project

SLO
Alternate Project Name
San Luis Obispo Regional Transit Authority Operations & Maintenance Facility Project
Project Type
Public Transit
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
San Luis Obispo Regional Transit Authority (“RTA”)
Project Description

A 28,650 square-foot combined administration, operations, and maintenance facility on a 6.44-acre lot in the city of San Luis Obispo, California.

Project Details
TIFIA Assistance
$13.08M
Primary Revenue Pledge
Farebox Revenues
Project Cost
$26.70M
Fiscal Year Closed
FY2020
Funding Sources
Tifia Loan - $13.08 million
Private Bank Loan - $1.02 million
Federal Grants - $7.19 million
State Grants - $5.42 million
Project Delivery/Contract Method
The project is being procured using a firm fixed-price, date-certain contract.
Project Participants
Public Sponsor: San Luis Obispo RTA Construction: Specialty Construction, Inc.
Project Advisers/Consultants
To Borrower:
• Financial Advisor: KNN Public Finance, LLC
• .Legal: Nossaman LLP

To USDOT Build America Bureau:
• TIFIA Financial Advisor: Ernst & Young
• TIFIA Legal Advisor: Skadden
Project Lender
USDOT Pacific West Bank
Credit Assistance Detail
Direct loan: up to $13.08 million. The TIFIA loan will be repaid primarily from LTF taxes and have a pledge of farebox revenues.
Application Details
Applicant
San Luis Obispo Regional Transit Authority
LOI Fiscal Year Received
FY2020
LOI Received Date
Application Received Fiscal Year
FY2020
Credit Agreement Executed
Initial Eligibility Review
Review Complete
Creditworthiness Review
Review Complete
Application Review
Review Complete
TIFIA Request
$13.08M
Instrument Type
Direct Loan