TxDOT State Infrastructure Bank SIB facts Loans for roadway - - PowerPoint PPT Presentation

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TxDOT State Infrastructure Bank SIB facts Loans for roadway - - PowerPoint PPT Presentation

Nov 30, 2022 46 likes •208 views

TxDOT State Infrastructure Bank SIB facts Loans for roadway projects only Revolving Fund - All repayments go back into the SIB 120 Loans Since inception (1997) $617 Million In loans $416 Million Repaid SIB Loans $6.1 Billion

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TxDOT State Infrastructure Bank

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SIB facts

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120 Loans – Since inception (1997) $617 Million – In loans $416 Million – Repaid $6.1 Billion – In Texas transportation projects

SIB Loans

  • Loans for roadway projects only
  • Revolving Fund - All repayments go back into the SIB
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SIB loans - borrower type

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Economic Development Corporations

5%

Regional Mobility Authorities

8%

Cities

63%

Counties

13%

Water Supply Corps.

11%

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SIB loans around the state

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SIB eligibility

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Eligible Uses Include: Mone netary c y cont ntribution t n to a TxDOT p project ct Construction Utility relocation Right of way acquisition Financial & Legal advisory fees Eligible Borrowers

  • Any public or private entity authorized to

construct, maintain or finance an eligible transportation project. Eligible Projects

  • Eligible uses include all costs incidental to

construction or reconstruction of highways.

  • Must be eligible under federal highway programs.
  • Must be consistent with the Statewide

Transportation Improvement Plan (STIP).

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Texas State Infrastructure Bank (SIB)

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SIB Loans

$

Utility Relocation Agreements

  • Tailor the loan schedule to match utility

reimbursement from TxDOT

Right of Way Agreement

  • SIB disbursement(s) match payment terms
  • Refunds after project close are applied directly

to reduce the loan

Local Roadway

  • Off-system public roads

Advance Funding Agreement

  • Loans for fixed local contribution
  • SIB disbursement can match payment terms
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Advantages of borrowing from the State Infrastructure Bank

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  • Prepayments can be made at any time
  • No fees for loan application
  • No loan handling charges
  • Rate set at the time of application
  • Some flexibility for debt service pinch points
  • At or Below Market Interest Rates
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TxDOT SIB Process

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Program Call

Submit a SIB B Applic icat atio ion and Resolutio ion to apply for loan TxDOT Divis isio ions will re revi view applications TTC TC prelim imin inar ary a approval al for prioritization of projects

  • Pr

Program Cal Call O Only ENV a appro rova val must be obtained prior to final approval

First Come, First Served (4-6 months)

SIB loan agreement must be appro rove ved b by the local g l gove vern rnment SIB loan agreement is negotiat iated (i.e. loan amortization schedule) Fin inal T TTC C Appro rova val

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TxDOT SIB process

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Pre-Planning

  • Work with District and local MPO on roadway priority
  • Timing of when the funds are needed
  • Strategy for SIB loan application submission
  • Address project and other concerns
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TxDOT SIB process

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Applying for a SIB loan

  • Determine which application is applicable

– Firs rst-Co Come, F First-Served

  • Complete SIB application
  • Present completed application to local government council or board
  • Local government council or board will need to pass resolution authorizing the

application for the SIB loan – Sample resolution on the SIB website

  • Provide passed resolution and completed application to the SIB team

Submit a SIB Application and Resolution to apply for loan

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TxDOT SIB process

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Internal TXDOT reviews

  • Project Finance, Debt & Strategic Contracts (PFD)
  • General Counsel Division (GCD)
  • District
  • Right of Way (ROW)
  • Design (DES)
  • Transportation Planning & Programming (TPP)
  • Environmental (ENV)

TxDOT Divisions will review applications

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TxDOT SIB process

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Environmental approval

  • Most common hold-up to Commission approval: Environmental
  • Environmental must be approved prior to Commission consideration
  • SIB application can be submitted before the Environmental approval

ENV approval must be obtained prior to final approval

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TxDOT SIB process

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Texas Transportation Commission approval

  • 1 Commission approval

– Additional approval required for Program Call applications – Program Call applications are for off-system roadways and loans over $10 million

  • PFD will present SIB item to the Commission
  • Borrower not required to attend, but can if they wish

Final TTC Approval

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TxDOT SIB process

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SIB loan agreement

  • TXDOT will provide draft loan agreement to borrower for review and comment
  • Comments discussed and addressed
  • Local government council or board passes resolution authorizing execution
  • Borrower and TXDOT execute the agreement
  • Funds dispersed on agreed upon date(s)

SIB loan agreement must be approved by the local government SIB loan agreement is negotiated (i.e. loan amortization schedule)

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Post funding

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SIB Loan Provisions

  • Annual expenditure report of SIB funds
  • Copy of annual budget
  • Copy of annual audit
  • Notification of additional debt from same revenues
  • Reserve Fund, if required
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SIB resources

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https://www.txdot.gov/government/programs/sib.html

  • General program information

– Permissible uses for the SIB – Information brochure – Current lending limits – Sample resolutions for the local entity – Applications for First-Come, First-Served and Program Call

  • Executive Director Guidelines of the program

Contact information Dallas Teston 512-463-9958 Dallas.Teston@txdot.gov