The Texas Transportation Commission amended its State Infrastructure Bank (SIB) rules effective July 20, 2016, to more effectively manage the available funds in the State Infrastructure Bank. The executive director has developed guidelines for the processing of applications and the analysis and recommendations provided to the Commission.
First-Come, First-Served Application
A SIB loan under $10 million for work necessary for a TxDOT project is exempt from the program call, and each application will be reviewed on a first-come, first-served basis. One Commission approval will be required after final loan terms are negotiated.
Program Call Application
A SIB loan for a non-TxDOT project or SIB loan over $10 million will be prioritized against other applications in a Program Call. Two Commission approvals will be required:
Limitation for Program Call application: A SIB loan should not exceed 35% of the estimated total project cost, including capitalized interest. For a list of prioritization considerations, please see §6.32(c)(1) of the SIB Rules.
Next Program Call
Please call (512) 463-7667 with any questions.
|Limitations on Available SIB Funds||Percentage of SIB||Current Limit|
|Total of all loans paid with project revenues
The loan should be fully disbursed within three years:
Subordinate Lien on Revenues as Security
Limit for a subordinate lien pledge of revenues: The amount of the SIB loan should not be greater than the amount of any senior lien bonds for the project.
As a requirement for closing a loan transaction and for disbursement of SIB funds, applicant should provide a certificate warranting that the proposed cash flow or revenues are eligible to be used to repay the loan and that the financial assistance will not violate any of the borrowing or bond commitments the borrower may have in place.