[Federal Register Volume 78, Number 241 (Monday, December 16, 2013)]
[Notices]
[Pages 76187-76188]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-29782]
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DEPARTMENT OF TRANSPORTATION
Office of the Secretary
Transportation Infrastructure Financing and Innovation Act
(TIFIA) Program; Agency Information Collection Activities and Request
for Comments
AGENCY: Office of the Secretary of Transportation (OST), DOT.
SUMMARY: The Department of Transportation (DOT) received no public
comments following the publication of its 60-day notice of proposed
information collection. As identified in the 60-day notice, the
information is currently being collected under an approved Information
Collection Request. OST requests that the Office of Management and
Budget (OMB) renew an Information Collection Request (OMB Control
Number 2105-0569) in accordance with the requirements of the Paperwork
Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. 3501 et seq.), and
requests additional comments and recommendations.
On July 6, 2012, the President of the United States signed the
Moving Ahead for Progress in the 21st Century Act of 2012 (MAP-21).
MAP-21 authorized $750 million in FY 2013 and $1 billion in FY 2014 for
the Transportation Infrastructure Financing and Innovation Act (TIFIA)
program to pay the subsidy cost of supporting Federal credit. The TIFIA
program will provide Federal credit assistance in the form of direct
loans, loan guarantees, and standby lines of credit to eligible surface
transportation projects. This information collection relates to the
collection of information from entities interested in TIFIA credit
assistance and assists DOT in evaluating projects and project sponsors
for program eligibility and creditworthiness.
A 60-day Federal Register notice was published on September 27,
2013, 2013 (78 FR 59751). Since the publication of the 60-day Federal
Register notice, no comments were received to the Docket (DOT-OST-2013-
0173) and therefore no review of comments was required, so none was
performed by the Department.
DATES: Written comments should be submitted by January 15, 2014.
ADDRESSES: Written comments should be submitted by January 15, 2014 and
submitted to the attention of the DOT/OST Desk Officer, Office of
Information and Regulatory Affairs, Office of Management and Budget,
Docket Library, Room 10102, 725 17th Street NW., Washington, DC 20503
or by email at [email protected] with
[[Page 76188]]
the associated OMB Control Number 2105-0569. Comments are invited on:
(a) The need for the proposed collection of information for the proper
performance of the functions of the agency, including whether the
information will have practical utility; (b) The accuracy of the
agency's estimate of the burden of the proposed collection of
information, including the validity of the methodology and assumptions
used; (c) Ways to enhance the quality, utility, and clarity of the
information to be collected; and (d) Ways to minimize the burden of the
collection of information on those who are to respond, including the
use of appropriate automated, electronic, mechanical, or other
technological collection techniques.
FOR FURTHER INFORMATION CONTACT: The TIFIA program manager via email at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Transportation Infrastructure Financing and Innovation Act
program or TIFIA program .
OMB Control Number: 2105-0569.
Affected Public: State and local governments, transit agencies,
railroad companies, special authorities, special districts, and private
entities.
Estimated Total Annual Number of Responses: 50 letters of interest
and 50 applications.
Estimated Total Annual Burden Hours: 6,000 hours. Based on the
number and type of interested stakeholders that have contacted the
Department about this program, OST estimates that it will receive 50
applications and letters of interest and that it will generally not
take applicants more than 100 person-hours to assemble individual
applications and 20 person-hours to assemble individual letters of
interest. Therefore, the total annual hour burden of this collection of
applications is 6,000 hours.
Frequency of Collection: The Department expects that this
information collection will occur on a rolling basis as interested
entities seek TIFIA credit assistance.
Background: This is an existing information collection that was
originally approved through the emergency approval process on August 7,
2013. DOT has published a notice in the Federal Register (also
available at: http://www.fhwa.dot.gov/ipd/pdfs/tifia/fy2013_tifia_nofa_073112.pdf) to give project sponsors an opportunity to submit
Letters of Interest and applications for the newly authorized funding
as soon as possible. However, in addition to authorizing more funding
for TIFIA credit assistance, MAP-21 made some significant changes to
the TIFIA program's structure, including the terms and conditions
pursuant to which DOT can provide TIFIA credit assistance. DOT is
required to solicit letters of interest and applications for TIFIA
credit assistance from interested applicants. DOT has developed forms
that provide a way for interested applicants to submit information
required by DOT in order for DOT to evaluate that interested
applicant's application for TIFIA credit assistance. The forms for the
letter of interest and application are available for review at http://www.fhwa.dot.gov/ipd/tifia/guidance_applications/tifia_applications.htm. DOT will use the collected information to evaluate
and select recipients for credit assistance as authorized under MAP-21.
Applicants may be asked to provide additional supporting evidence or to
quantify details during the review and negotiation process on a case-
by-case basis.
MAP-21 establishes a multi-step application process for TIFIA
credit assistance. This process begins with the submission of a letter
of interest and determination of eligibility. Only after a project
sponsor has submitted a letter of interest and met all statutory
eligibility requirements will the project sponsor be invited to submit
an application.
The letter of interest must (i) describe the project and the
location, purpose, and cost of the project, (ii) outline the proposed
financial plan, including the requested credit assistance and the
proposed obligor; (iii) provide a status of environmental review; and
(iv) provide information regarding satisfaction of other eligibility
requirements of the TIFIA credit program. Letters of Interest will be
submitted using the form on the TIFIA Web site: http://www.fhwa.dot.gov/ipd/tifia/guidance_applications/index.htm. DOT has
revised the form for the letter of interest to reflect changes made to
the TIFIA program by MAP-21. The letter of interest form requires
project sponsors to provide information demonstrating satisfaction (or
expected satisfaction if permitted by the statute) of each of the
eligibility requirements included in MAP-21. DOT estimates that the
letter of interest would require approximately 20 hours in each
instance to complete.
If a project sponsor is invited to submit an application, DOT
estimates that each application will require approximately 100 hours to
complete. DOT uses the application to seek a project sponsor's contact
information for the applicant entity; project information including
name, location, description, rural project description (if applicable),
purpose (quantitative/qualitative details), cost and TIFIA credit
assistance request, project management and compliance monitoring plan,
maintenance and operations plan. DOT also expects project sponsors to
submit information confirming that the project satisfies eligibility
requirements including creditworthiness (rate covenant, coverage
requirements, investment grade rating(s)), fosters partnerships that
attract public and private investment, demonstrates that TIFIA
assistance would enable the project to proceed at an earlier date or
with reduced lifecycle costs and that TIFIA assistance would reduce the
contribution of Federal grant assistance.
Sponsors also must report in the application the status of project
environmental review (NEPA), permits and approvals, transportation
planning and programming process approvals (STIP and TIP), construction
contracting process readiness, and expected project schedule. Project
sponsors are required to produce a financial plan including estimated
capital project cost, amount and type of credit assistance requested,
amount of TIFIA assistance requested, a summary table detailing sources
and uses of funds, cash flow pro forma, a supplementary narrative
detailing other borrowed funds and revenue sources (including pledged
repayment source).
Finally, a project sponsor must indicate in the application the
proposed terms for the requested TIFIA credit instrument, reasons for
selecting the proposed type(s) of credit instrument, flexibility in
financial plan to support a reduced percentage-share of TIFIA credit
assistance, risks and mitigation strategies, details on the applicant's
organizational structure, including background information and legal
authority, organization and management, identity of the entity that
will serve as the applicant (public-sector agency or private-sector
firm),whether the applicant the same entity as the borrower (detail
project team members), prior experience, financial condition, and
litigation and/or conflicts.
Issued in Washington, DC, on December 6, 2013.
Patricia Lawton,
Departmental PRA Clearance Officer, Office of the Secretary.
[FR Doc. 2013-29782 Filed 12-13-13; 8:45 am]
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