Low-interest loans for the design, engineering, right-of-way and repair, reconstruction and construction of public highways, bridges, public and private airports and railroads and public transportation systems.
There is no set minimum or maximum loan amount. Construction receives the highest priority.
Local Government; State Government; Non-Profit Organization
Eligible Recipients Detail:
All public highways and bridges as well as airports, rail freight and public transportation facilities are eligible to apply
General Infrastructure; Last Mile Infrastructure; Broadband Enabled Devices; Building Infrastructure; Anchor Institution Infrastructure
Eligible Purpose Detail:
Roadway and bridge construction and repair, traffic signals, roadway drainage improvements, airport runways, hangars and equipment, railroad track, equipment and signals, and public transportation capital facilities and purchases. Broadband connectivity activities related to these purposes are also eligible for funding.
Funding is available up to 100% of eligible costs. The interest rate is a fixed rate at one half prime and is set upon receipt of the loan application. The maximum loan term is 10 years.