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2 million loan made by the FDOT from the State Infrastructure Bank, and repay a $7.
Current law allows a state to use their Federal-aid funding to capitalize a State Infrastructure Bank and provide loans and loan guarantees to appropriate transportation projects that the state deems most important.
These mechanisms included loans from the state infrastructure bank, grant application notes and board funding obligation loans.
The council endorsed a plan to consider borrowing money from the state infrastructure bank to complete and improve those sections of Golden Valley Road and make up the difference.
The final chapter of the report includes funding alternatives that vary from aggressive retiring of debt; the use of "one-shots" such as by using revenues from the sale of the Coliseum; contributions by developers who build other projects; expansion of the State Revolving Loan Fund program; the use of State Infrastructure Banks to fund road and transportation systems; reform of the Wicks Law; "prize bonds" to which the public contributes and then gets a money prize; and the institution of user fees on large, non-profit corporations to equalize the benefits of services received.
Department of Transportation (DOT) restructuring effort, State Infrastructure Banks (SIBs) are included as part of the department's new program design.
PROGRAM UNDERWRITING: Loan underwriting is strong, as the program follows a formal underwriting process requiring a review by the Division of Finance within the Department of Transportation, then the approval of both the State Infrastructure Bank Loan committee and the Director of Transportation of the State (the Director).
Without expanded user-based fees, states will have to use more and more of existing funding to maintain existing infrastructure, and make more use of alternative financing schemes such as public-private partnerships (P3), state infrastructure banks and tolling to finance new construction.