GTIB Announces Loan Funding Availability in 2020
The Georgia Transportation Infrastructure Bank (GTIB) is a competitive grant and low-interest loan program available to eligible government units in Georgia. The GTIB program is administered by the Georgia State Road and Tollway Authority (SRTA). Since 2009 GTIB has awarded $151 million in grants and loans to eligible transportation projects throughout the state.
SRTA is pleased to announce that GTIB will accept applications for up to $10 million in loan funding starting September 1, 2020 through October 23, 2020. Awards are expected to be announced in the first quarter of 2021. New for 2020 loans can be repaid with LMIG funds. If this option is chosen the repayment must be matched as required by Georgia Code. Accordingly, loan awardees in regions that passed the Transportation Investment Act (TIA) of 2010 must provide at least a 10% match. Loan awardees in regions that did not pass TIA must provide at least a 30% match.
Applicants will need to complete and submit a loan application and the financial documentation form which can be downloaded at www.srta.ga.gov/gtib. Please submit all applications electronically to GTIBinfo@srta.ga.gov. Awards are expected to be announced in the first quarter of 2021. Please contact David Cassell, SRTA Strategic Programs Administrator at email@example.com if you have any questions.