State Infrastructure Bank (SIB)

State Infrastructure Bank (SIB)

FY 2019/20 SIB Application Cycle

(Cover Sheet)

An Application will be required to ensure potential SIB projects meet eligibility, financial, and production criteria. The Department will determine an indicative interest rate for the application based on current market conditions, financial strength of the borrower, term, and risk of loan. Funds for the upcoming application cycle will be available July 1, 2019.

Application and Negotiation dates for federal/state eligible production-ready projects in state fiscal year 2019/20 are as follows:

APPLICATION

How did you hear about Florida’s SIB program?

Does the project meet eligibility requirements?

Federal/State Guidelines

_____ Yes_____ No

Section 339.55, F.S – Florida State Infrastructure Bank

_____ Yes_____ No

SIB loan amount request?$______

1. Project Participants.

1. Name of Applicant/Borrower (loan recipient):

1. Contact information – mailing address, phone number and E-Mail address:

1. Overall organizational structure of the applicant, borrower (loan recipient), and members of project team (provide graphic if available):

1. What entity will serve as the applicant (public-sector agency/authority or private-sector):

1. Will the applicant and the borrower (loan recipient) be the same entity (if no, explain):

1. Loan Recipient’s Fiscal Year Ends?
2. Loan recipient’s Vendor ID:

1. Project located in FDOT District/Enterprise?

1. Describe the Project, Location, Purpose and Costs.

1. Name of Project:

1. Location (city, county, termini, mile points:

1. Estimated Project start date:

1. Estimated Project completion date:

1. Is the project part of the Strategic Intermodal System (SIS)?

1. Is the project part of the Emerging Strategic Intermodal System (SIS)?

1. Is the project eligible for the Transportation Regional Incentive Program (TRIP)?

1. Do the engineering plans and use of personnel/consultants meet minimum qualifications of Rule Chapter 14-75.003, Florida Administrative Code?

1. Has/Will Right-of-Way (ROW) been acquired in compliance with Public Law 91-646, Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended, and all laws and rules governing ROW acquisition?

1. Are project cost estimates current (no more than six months old)?

1. Describe the project to include project limits, location map, and transportation mode (provide graphic if available):

1. Describe the project purpose including details and public benefits the project will achieve:

1. Does the project encourage, enhance and/or create economic benefits? Explain:

1. Does the project foster innovative public-private partnerships and attract private debt or equity investment? Explain:

1. Does the project use new technologies, including intelligent transportation systems, which will enhance the efficiency of the project? Explain:

1. Does the project help maintain or protect the environment? Explain:

1. Does the project include transportation benefits for improving intermodalism, cargo and freight movement? Explain:

1. Does the project include transportation benefits for improving safety? Explain:

1. Provide the design features and other relevant descriptions of the project:

1. Provide the development schedule of the project:

1. Provide the estimated capital cost of the project:

1. Ownership of the project/asset before, during, and after construction/purchase:

1. Outline the Proposed Financial Plan.

The SIB Program Manager can assist with an indicative interest rate for planning purposes and financial model development. As a comparator, the State and Local Government Series (SLGS) rates of similar maturities are used to aid in determining an interest rate, plus a risk premium.

(contact Jennifer G. Weeks for assistance)

1. Details of the plan of finance – provide a description (as well as a fully functional Microsoft Excel model with formulas) with sufficient detail to assist with creditworthiness assessment:

1. Detail the sources and uses of all funds:

1. Amount and type of requested SIB assistance:

1. Provide a rationale for the amount of SIB assistance request, as a percentage of reasonably anticipated eligible project costs (e.g., a project sponsor can demonstrate that traditional sources of financing are not available at feasible rates without SIB assistance, or the costs of traditional financing options would constrain the sponsor’s ability to deliver the project, or delivery of the project through traditional financing approaches would constrain the sponsor’s ability to deliver a group of related projects, or a full capital program) (It is strongly encouraged to limit SIB request to 50% or less of total eligible costs):

1. Identify flexibility in the financial plan to finance the project with a reduced percentage of SIB assistance:

1. Anticipated draw schedule and repayment term:

1. Description of primary revenue source(s) pledged to repay SIB loan:

1. Description of secondary repayment source or alternative backstop:

1. Are revenue estimates current (no more than six months old)?

1. If repayment sources are local fees, taxes or other local/general revenues, has a resolution been approved and adopted by the local government? Describe and provide the date of approval/adoption as well as a copy of the document. If not approved and is required, provide the date expected to be approved/adopted.

1. Address the status of historical revenues, feasibility studies, and/or Traffic and Revenue (T&R) reports:

1. Anticipated lien position of SIB loan if using same source of revenue for servicing existing debt:

1. If bonds (or other debt instrument) will be used to help finance the project, specify anticipated date of bond sale, type of bond (general obligation, revenue), tax-exempt status, issuer, current underlying rating, issuer minimum coverage ratio, source of revenue servicing debt and maturities:

1. Information regarding satisfaction of SIB criteria requirements.

1. Creditworthiness

1. Ability to satisfy applicable creditworthiness standards in guidelines:

1. Rate covenant of existing debt, if applicable:

1. Adequate coverage requirements to ensure repayment of SIB loan and existing debt, if applicable:

1. Are financial statements, operating revenues, and financial projections available for public viewing? (include links or files):

1. Will SIB loan enable the project to proceed at an earlier date? Explain:

1. Will SIB loan enable the project to reduce lifecycle costs? Explain: (include debt service costs and explain)

1. Will SIB loan improve accessibility/affordability of other debt Financing? Explain:

1. Can project commence within 90 days from the negotiation and execution of the SIB loan agreement or the availability of funds? Explain:

1. Project included in the Adopted Comprehensive Transportation Plan of the applicable Metropolitan Planning Organization (MPO) and the Florida Transportation Plan (FTP)? (if yes, where is the project on the priority list and provide a screen shot of the page showing adoption – if no, when is the project anticipated to be adopted?)

1. Status of Environmental Review.

1. Summarize the status of the project’s environmental review:

1. Does the project engineering comply with the Department’s Project Development and Environmental (PD&E) Manual? Explain:

_____ Yes_____ No

1. Do the project environmental impacts comply with the Department’s Project Development and Environmental (PD&E) Manual? Explain:

Submit Application to the SIB Program Manager during the advertised period based on the Department’s SIB Website.

SIB Website:http://www.fdot.gov/comptroller/PFO/sib.shtm

If you have any questions, please contact the SIB Program Manager:

Stephen Rogers

State Infrastructure Bank (SIB) Program Manager

Florida Department of Transportation

Office of Comptroller - Project Finance

605 Suwannee Street, MS #10

Tallahassee, Florida 32399-0450

PHONE: (850) 414-4768/DOTNet: 880-4768

E-MAIL: