The State Road & Tollway Authority (SRTA) announced today that up to $14.5 million in grant and loan funding is available for local, regional, and state governments as well as community improvement districts through the Georgia Transportation Infrastructure Bank (GTIB) program. The Council for Quality Growth has historically focused on long-term investments in the regional transportation network and support increased funding to the GTIB, with additional investment specifically directed to projects sponsored by Community Improvement Districts and/or local governments. The Council for Quality Growth and CIDs look forward to continuing the dialogue at the State Capitol on the importance of GTIB funding and positive impact CIDs have on our communities.
GTIB is a revolving infrastructure investment fund that awards loans and grants to help jumpstart or complete much-needed transportation improvement projects in Georgia. Now in its tenth round, the GTIB program continues to improve mobility and enhance communities throughout the State of Georgia. The GTIB application window opens October 24th and closes on Friday, January 20, 2023.
Since its inception in 2010, the GTIB program has provided $182 million in grants and loans, which has supported more than $1 billion in total project value for transportation infrastructure improvements. GTIB has funded various projects including an interstate gateway project in Bulloch County, a road widening project in Athens-Clark County, and diverging diamond interchanges in the Perimeter, Gwinnett Place, Jimmy Carter Boulevard and Cumberland/Cobb areas.
GTIB is a competitive program, with each loan and grant application evaluated based on transportation merit, economic merit and project specifics. For grant requests of $2 million or more, the maximum that can be applied for is 33 percent of the total project value. There is no cap for grant requests under $2 million, but applicants are encouraged to provide as much local match as possible for the project to be competitive. There are no caps for loan applications since the loan payback serves as the local match. Loans can be repaid with Local Maintenance & Improvement Grant (LMIG) funds.