NEW TRANSPORTATION FUNDING AVAILABLE
The Department of Community and Economic Development (DCED) announced that the Commonwealth Financing Authority has adopted guidelines for the Multimodal Transportation Fund (MTF).
The Commonwealth Financing Authority will begin accepting applications for the MTF on March 21, 2014 with the application period closing on June 20, 2014. Based on projections, the CFA is anticipated to receive $40 million in Fiscal Year 2014-15.
The MTF will provide financial assistance to municipalities, councils of governments, businesses, economic development organizations, public transportation agencies, rail freight and ports to enhance communities, pedestrian safety and transportation assets.
Eligible projects include but are not limited to: rail service, bus and transportation center improvements; streetscape, lighting, sidewalk and bicycle/pedestrian safety enhancements; coordinating transit services; rail-freight sidings and freight track upgrades; airport development and improvement to Pennsylvania’s ports.
Financial assistance under the MTF must be matched by local funding in the amount not less than 30 percent of the non-federal share of the project cost. Matching funds from a county or municipality must consist of cash contributions provided by one or more counties or municipalities. Matching funds from other eligible entities must consist of cash contributions or cash equivalents for the appraised value of the real estate.
Grants are available for projects with a total cost of $100,000 or more and grants shall not exceed $3 million unless the CFA determines the significant economic impact based on private investment and job creation justifies a larger award.
The program will be administered jointly by DCED and the Department of Transportation, under the direction of the CFA.
To apply for funding, the applicant must submit the electronic on-line DCED Single Application for Assistance located at www.esa.dced.state.pa.us.
For more information about the CFA, visit www.newPA.com or call 1-866-466-3972.