Exciting Funding Opportunity for Atlanta’s Transportation Infrastructure!
Attention, Atlanta, and all its charming little surrounding communities! The State Road and Tollway Authority (SRTA) has just made a thrilling announcement on Tuesday, stating that applications are now officially open for a whopping $16 million in transportation loans and grants. This funding is aimed at local, regional, and state governments, as well as community improvement districts, with the goal of fast-tracking vital transportation infrastructure improvements across our lovely state.
What’s the Scoop?
The money will be distributed through the Georgia Transportation Infrastructure Bank (GTIB), and we’ve got some important dates for you! Applications will be accepted until January 14, 2025, and if you’re among the lucky recipients, keep your eyes peeled for the award announcements, which are expected in June 2025. So, mark your calendars because this is your chance to bring some serious improvements to your community’s transportation systems!
Focused on Smaller Communities
This particular funding round is designed with smaller communities in mind. In fact, up to $2 million of the GTIB funds can be allocated specifically to help our rural neighbors meet the matching requirements for Federal Transportation Alternatives (TA) funding. And here’s something to cheer about: for the first time ever, areas with a population of less than 5,000 can now tap into GTIB awards along with TA funds to boost bicycle and pedestrian infrastructure projects! How great is that?
Streamlined for Success
According to Jannine Miller, the executive director of SRTA and the director of planning for the Georgia Department of Transportation (GDOT), the streamlined application process is designed to create “new opportunities” for these smaller towns. We can almost hear the cheers echoing from community members eager to enhance their towns’ infrastructure!
Funding Details and Competition
Now, let’s talk details. If you’re eyeing a grant of $2 million or more, you can snag up to 33% of the total value in GTIB funding. But don’t worry if your project is under $2 million—there’s no cap on grant or loan applications in that category! But keep in mind, this competition is fierce. Recipients will be chosen based on key factors like engineering value, economic impact, and project feasibility. Plus, having local matching funds can significantly boost your project’s chances of receiving funding.
Last Year’s Success
To give you an idea of what’s possible, last year SRTA awarded a total of $16.9 million to five projects across the entire state. That’s considerable impact, right? GDOT is also stepping up to assist small communities in competing effectively for the Federal TA funding program, which kicks off accepting applications in January 2024.
A Legacy of Investment
This marks the twelfth round of investments through GTIB, an initiative funded by the Georgia General Assembly. Since 2010, GTIB has delivered $216 million in loans and grants for a variety of transportation infrastructure projects. Some notable achievements include increased access to downtown Woodstock, drastically reduced repaving timelines in Pike County, and improvements to commercial traffic routes in Pierce County. It’s a win-win for everyone involved!
Don’t Miss Your Chance!
So, Atlanta, if you’re part of a community that’s ready to enhance its transportation network—this is your moment! Make sure to pull together your applications before the deadline approaches, and who knows? Your project could be the next big winner that transforms your area’s mobility and economic development.
