ATLANTA — Georgia’s State Road and Tollway Authority announced that up to $15 million was available to use for transportation improvement projects across the state.
Now, according to officials, the $15 million is a combination of loan and grant funding, and can even be used for community improvement districts through the Georgia Transportation Infrastructure Bank program.
Opportunities to apply for the funds began Nov. 1 and will remain open until Jan. 25, 2024.
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Transit Authority executive director Jannine Miller said GTIB’s loan and grant programs are a catalyst for developing infrastructure and have been since their start in 2010.
“The GTIB program enhances mobility and contributes to economic prosperity in local communities throughout Georgia,” Miller said. “This funding option can enable local governments to accelerate project completion by removing financial roadblocks, delivering mobility benefits to the public sooner.”
Starting in 2024, the SRTA will work with the Georgia Department of Transportation to provide further funding programs to local governments as a way to meet Gov. Brian Kemp’s goal to improve state government efficiencies, according to SRTA’s announcement.
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Since its inception in 2010, the GTIB program has provided $200 million in loans and grants, supporting more than $1 billion in total project value for transportation infrastructure improvements, officials said.
The loan and grant programs from GTIB are competitive, meaning each application is evaluated based on multiple criteria.
Some of the factors under consideration for which programs get funded include engineering value, economic impact, local matching funds, project feasibility and proximity to construction, according to SRTA.
Any request for more than $2 million has a cap equaling 33% of an overall project value, while requests under $2 million have no cap, but are encouraged to come with community matches, officials said.
Additionally, SRTA said loans receive priority for funding approval, as will projects seeking both a loan and a grant.
Details and information on how to apply for a GTIB loan or grant can be found online.
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