Governor Nathan Deal announced today the approval of funding for 12 transportation infrastructure projects totaling more than eight million dollars in grants and loans funded by the Georgia Transportation Infrastructure Bank (GTIB). The GTIB program is a revolving infrastructure investment fund established in 2008 by Georgia legislators and administered by the State Road and Tollway Authority (SRTA). Only community improvement districts (CIDs) are eligible for grant funding and CIDs and local and state government entities are eligible for loan funding.
The 11 CIDs awarded are as follows: Perimeter (Fulton), Midtown, Atlanta, Gwinnett Village, Gwinnett Place, Buckhead, Evermore, Stone Mountain, North Fulton, Lilburn and Cumberland.
“The GTIB program is a way for communities who are serious about investing in their infrastructure to apply for the help they need to complete or move their projects forward,” said Governor Deal. “These projects are the kind of investments that not only sustain communities, but they also strengthen communities by providing more job opportunities.”
SRTA manages the GTIB funds, as well as the grant and loan application review and selection process. Final approval is made by the SRTA Board which is chaired by the Governor.
“To date, the GTIB program has awarded approximately $20 million in grants and loans since the program’s inception which have helped fund projects with a total value of more than $100 million dollars,” said SRTA Executive Director Dr. Gena Evans. “SRTA is committed to helping communities invest in mobility solutions that enhance quality of life and provide greater access for all Georgia citizens.”
Serving as a member of the SRTA Board, GDOT Commissioner Keith Golden applauds the 11 award recipients and supports the partnerships created through the GTIB program. “In addition to providing financial support for local transportation improvements, the GTIB program has created vital partnerships with state and local governments and entities that work to keep people moving in Georgia,” said Commissioner Golden.
Grant applications were scored using a point system based on the following criteria: transportation/engineering merit; economic merit; local, state and federal matching funds and project specifics including the project phase and feasibility. Loan applications include the aforementioned criteria as well as borrower type; project type and loan spend down/repayment abilities.
The Atlanta Downtown Improvement District CID grant project will upgrade two existing bridges along the I-75/85 Connector: Peachtree Street and Capitol Avenue/Memorial Drive. Upgrades will include safety enhancements such as replacement fencing, improved way-finding elements and enhanced pedestrian amenities. The GTIB grant award amount is $200,000.