01-08-2015
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01-08-2015
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TO: FM Diversion Authority Board <br />FROM: FM Diversion Finance Committee <br />RE: Federal Highway Administration Loan Application <br />DATE: January 7, 2015 <br />The Finance Committee discussed a loan fund currently administered by the Federal Highway <br />Administration that may be a source of partial funding for certain transportation related elements of the <br />Diversion project. This loan program would allow low interest loans with a repayment period of up to <br />35 years. Another favorable feature of this loan program includes not having to start repaying the loan <br />until the project has been completed. Since there are components that would be eligible for this loan <br />program within the FM Diversion project (approximately $380 million) the Finance Committee is <br />recommending that we apply for this loan. There is a $100,000 application filing fee with the Federal <br />Highway Administration so your approval to apply for this loan is requested. <br />Suggested Motion: <br />Approve submission of an application for Federal Highway Administration loans for eligible components <br />of the FM Diversion project and also approving the application filing fee of $100,000. <br /> <br /> <br /> <br /> <br />
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