SRTA Announces $16 Million in Loan and Grant Funding for Transportation Infrastructure Improvements Across Georgia

Funds will accelerate key transportation infrastructure projects and drive economic growth statewide – applications due early January 2025

ATLANTA, GA, UNITED STATES, November 12, 2024 /EINPresswire.com/ -- The State Road & Tollway Authority (SRTA) announced today the opening of applications for up to $16 million in transportation loans and grants available to local, regional and state government entities, as well as community improvement districts, through the Georgia Transportation Infrastructure Bank (GTIB). This funding aims to fast-track transportation infrastructure improvements and enhance mobility and economic development across the state, including metropolitan and rural areas.

Now in its twelfth round of investments, the GTIB program has proven to be a catalyst for infrastructure development since its inception, improving mobility and driving growth in urban and rural communities through loans and grants that reduce funding gaps. The 2025 appropriation, determined by Georgia’s General Assembly, marks a continued commitment to delivering significant impact through transportation investments. The application window opens today, November 12, 2024 and closes January 14, 2025.

In June 2024, the SRTA Board granted the SRTA Director the authority to allocate up to $2 million of GTIB funds to assist rural local governments with the matching requirements for the Federal Transportation Alternatives (TA) funding for rural communities. Through a partnership with the Georgia Department of Transportation (GDOT) and for the first time in program history, applicants with a population of less than 5,000, may use a combination of GTIB and TA funding to accelerate projects that support alternative transportation modes such as bicycle and pedestrian infrastructure. In addition, SRTA and GDOT’s Local Maintenance & Improvements Grant (LMIG) funding can be used as a match for TA funds and can be used to repay GTIB loans.

GDOT is available to help these small communities complete their Federal TA project application and identify the required matching funds. The application window for the TA program is expected to open in January 2025. For more information about the TA program and to receive notice of the TA call for projects, please refer to dot.ga.gov/GDOT/Pages/TAP or contact Ben Kane at bekane@dot.ga.gov.

"We are excited to offer $16 million in GTIB funding this year, a significant investment that underscores our commitment to supporting impactful projects," said Jannine Miller, Executive Director – SRTA, Director of State Planning – GDOT. “I am grateful to the SRTA Board and its Chairman Governor Kemp, for their support of rural communities across Georgia. By streamlining the application process and allowing smaller towns to combine GTIB and TA funding, we’re creating new opportunities for bicycle and pedestrian infrastructure projects.”

Last year, SRTA awarded $16.9 million for five transformative projects, all of which included loans, continuing SRTA’s focus to stretch resources even further. A standout project in Peach County, adjacent to the State’s Middle Georgia Megasite, received $6.6 million — a $5.6 million loan and $1 million grant — exemplifying the state’s commitment to rural infrastructure development in line with Governor Brian Kemp’s administration initiatives.

Since 2010, GTIB has provided $216 million in loans and grants, supporting transportation infrastructure improvement projects valued at more than $1.1 billion. These investments have delivered real results, including enhanced access to downtown Woodstock, reduced repaving timelines in Pike County and improved commercial traffic routes in Pierce County – to name a few.

GTIB’s program is competitive. Applications are evaluated on engineering value, economic impact, local matching funds and project feasibility. For grant requests of $2 million or more, projects can be funded up to 33% of their total value. There is no funding cap on grants or loan applications under $2 million, but providing local matching funds increases an application’s chance for award. For loans, loan payback qualifies as the local match.

GTIB eligible projects include road and bridge improvements as well as associated infrastructure for bicycle, pedestrian and traffic control. For application details, visit www.srta.ga.gov/gtib or contact David Cassell at dcassell@srta.ga.gov. All applications will be reviewed, and final decisions will be made by the SRTA Board by summer 2025.

About the State Road and Tollway Authority (SRTA)
SRTA is a state-level, independent authority created to operate tolled transportation facilities within Georgia and act as the transportation financing arm for the state. SRTA manages the collection of tolls on Georgia’s Express Lanes System through the use of Peach Pass.

Media Contacts:
Ericka B. Davis
Chief Communications Officer
404-893-3004, office
404-226-9339, cell
edavis@srta.ga.gov

or

Sharon L Goldmacher
On behalf of SRTA
+1 404-814-1330
sgoldmacher@c21pr.com