The Texas State Infrastructure Bank (SIB) is a low-cost revolving loan program within TxDOT that offers financial assistance in the form of at or below market rate loans to public or private entities authorized to construct, maintain or finance an eligible public highway project.
Eligible projects must be eligible for assistance under existing federal highway rules (Title 23, United States Code), environmentally cleared, consistent with the Statewide Transportation Improvement Program (STIP) and consistent with the transportation plan developed by the local metropolitan planning organization (MPO).
To assist local governments in navigating this difficult time, the Texas SIB will be waiving interest during the first 3 years of approved SIB loans for current applicants and new applications received from now until the end of the year (December 31, 2020). Some examples where this may be beneficial to your community include:
• Outstanding or upcoming funding contribution(s) to a TxDOT project
• Outstanding or upcoming costs for right-of-way (ROW) acquisitions and/or utility relocation for a TxDOT project
• Funding eligible, local project letting within the next 12 months