The Bank invites the submission of applications from local governments (project sponsors or owners) for financial assistance for transportation projects. The submissions to be considered in 2017 must be received by the Bank at its offices by January 31, 2017. The Bank will evaluate the applications and projects which are determined to be eligible and qualified based on the Bank’s application criteria, the Bank’s Operating Guidelines, the South Carolina Transportation Infrastructure Bank Act, and Act 275 of 2016 (see attached Addendum). The Bank will render decisions on those applications by September 1, 2017. The projects approved for financial assistance by the Bank will be submitted for review and consideration to the SCDOT Commission and the General Assembly’s Joint Bond Review Committee.
Please note that a project must have total minimum eligible project costs of at least $25 million and have a minimum score under the factors listed in the application of 70. Projects may not be combined to meet the minimum project cost. Local financial matches, as explained in the Operating Guidelines, Procedures, and Standard Conditions, are an important factor in the review of a project. The projects also will be ranked by the Bank with the assistance of SCDOT based on the criteria noted in Section 7 of Act 275 of 2016. The bank may fund complete projects, partial projects, or no projects annually.