Sentences with phrase «federal credit assistance»

Provides federal credit assistance in the form of direct loans, loan guarantees, and standby lines of credit to finance surface transportation projects of national and regional significance.

Subtitle C, Chapter 2 establishes a Federal credit assistance program for major surface transportation projects under the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA).

The TIFIA program provides federal credit assistance to nationally or regionally significant surface transportation projects, including highway, transit and rail.

TIFIA Program For all TIFIA projects, including the capitalization of a rural projects fund in a SIB (with the exception noted below), the DOT must make a determination that Federal credit assistance would satisfy the following statutory mandates:

provides Federal credit assistance in the form of direct loans and loan guarantees to finance eligible railroad infrastructure projects, including the acquisition, development, improvement, or rehabilitation of intermodal or rail equipment or facilities.

Through TIFIA, DOT provides Federal credit assistance to surface transportation projects such as highway, transit, rail, and intermodal freight projects including seaports.

This includes a demonstrated capacity to repay the Federal credit assistance as well as a determination that the project has appropriate security features, such as appropriate coverage ratios, rate covenants and reserves, as applicable.

TIFIA's current governance structure within DOT provides policymakers discretion to adapt Federal credit assistance to the demands of new and traditional transportation infrastructure owners and investors, while subjecting the program to congressional and executive oversight.

Mr. Callender oversees a portfolio that encompasses over $ 27 billion in Federal credit assistance to intermodal, highway, transit and rail projects totaling more than $ 92 billion of infrastructure investment in the U.S. Prior to his current position, he held positions in DOT's Office of Budget and Programs where he was responsible for oversight of the Maritime Administration budget, in DOT's Inspector General's Office and the Budget Office of the District of Columbia's Metropolitan Police Department.

Codified in Sections 601 through 609 of Title 23, United States Code, the TIFIA program provides Federal credit assistance to surface transportation projects of national or regional significance in order to attract substantial non-Federal public and private co-investment.

Not exact matches

First - time homebuyers, homeowners who meet eligibility requirements for weatherization updates, moderate - income families who don't qualify for federal housing assistance; minimum credit score of 660.

You can also receive up to $ 5,000 in down payment or closing cost assistance, a federal tax credit certificate and lender - paid mortgage insurance.

HCR's Housing Finance Agency provided $ 8.3 million through tax exempt bonds, a $ 2.9 million Medicaid Redesign Team loan, and mortgage insurance through the State of New York Mortgage Agency; $ 1.5 million loan from OTDA's Homeless Housing Assistance Program; $ 1 million loan from the Federal Home Loan Bank of New York; about $ 5 million in Low Income Housing Tax Credit equity; $ 1.9 million in estimated New York State Historic Tax Credit equity and about $ 2.9 million in Federal Historic Tax Credit equity.

In New York, 840,000 children are lifted above the poverty line each year by safety net programs; 597,000 residents were lifted out of poverty by the earned income tax credit and child tax credit from 2011 — 2013; 576,000 low - income households rely on federal rental assistance; 2,968,000 residents received SNAP in FY 2016; and hundreds of thousands more rely on investments in job training, education, and other social services.

The federal government has tried to soften the impact of these increases on families and students by providing more assistance in the form of loans, grants, and tax credits.

[81] While these contingent commitments are not an obligation and do not guarantee receipt of RRIF or TIFIA credit assistance, as applicable, they represent an agreement between the DOT and a project sponsor to provide credit assistance subject to the satisfaction of all of the terms and conditions for credit assistance set forth under the RRIF or TIFIA statutes, as applicable, including satisfaction of Federal eligibility requirements (such as the National Environmental Policy Act of 1969) and the availability of budgetary authority for such credit assistance.

The Credit Programs are subject to the Federal Credit Reform Act of 1990, which requires the DOT to establish a capital reserve [84] sufficient to cover the estimated long - term cost to the Federal Government of a Federal credit instrument, including any expected credit losses, before the DOT can provide TIFIA or RRIF credit assisCredit Programs are subject to the Federal Credit Reform Act of 1990, which requires the DOT to establish a capital reserve [84] sufficient to cover the estimated long - term cost to the Federal Government of a Federal credit instrument, including any expected credit losses, before the DOT can provide TIFIA or RRIF credit assisCredit Reform Act of 1990, which requires the DOT to establish a capital reserve [84] sufficient to cover the estimated long - term cost to the Federal Government of a Federal credit instrument, including any expected credit losses, before the DOT can provide TIFIA or RRIF credit assiscredit instrument, including any expected credit losses, before the DOT can provide TIFIA or RRIF credit assiscredit losses, before the DOT can provide TIFIA or RRIF credit assiscredit assistance.

However, in such cases for (x) TIFIA credit assistance, the maximum credit subsidy to be paid by the Federal Government may not be more than 10 percent of the principal amount of the TIFIA credit assistance, and the obligor is responsible to pay any remaining subsidy cost, and (y) for RRIF credit assistance, the DOT may impose limitations on the waiver of nonsubordination requirements if it determines that such limitations would be in the financial interest of the Federal Government.

Any type of project that is eligible for Federal assistance through existing surface transportation programs (highway projects and transit capital projects) is eligible for the TIFIA credit program, including intelligent transportation systems (ITS).

(10) PROJECT READINESS. - To be eligible for assistance under this chapter, the applicant shall demonstrate a reasonable expectation that the contracting process for construction of the project can commence by not later than 90 days after the date on which a Federal credit instrument is obligated for the project under this chapter.»

In addition to the TIFIA credit assistance, the $ 2.722 billion project is funded with $ 715 million in toll revenue bonds, $ 74 million in toll receipts, $ 144 million in state and local sales tax deferrals, $ 547 million in state fuel taxes, $ 819 million in Direct GARVEE bonds, and $ 124 million federal formula funds.

(D) ASSISTANCE FROM EXPERT FIRMS. - The Secretary may retain the services of expert firms, including counsel, in the field of municipal and project finance to assist in the underwriting and servicing of Federal credit instruments.»

Borrowers of TIFIA credit assistance are also required to provide annually, at no cost to the Federal Government, ongoing credit evaluations of the project and all project debt, including the TIFIA credit instrument.

-» (1) ESTABLISHMENT. - The Secretary shall establish a rolling application process under which projects that are eligible to receive credit assistance under subsection (a) shall receive credit assistance on terms acceptable to the Secretary, if adequate funds are available to cover the subsidy costs associated with the Federal credit instrument.»

The TIFIA Program is governed by the Federal Credit Reform Act of 1990, which requires the DOT to establish a capital reserve, or «subsidy amount,» sufficient to cover the estimated long - term cost to the Federal Government of a Federal credit instrument, including any expected credit losses, before the DOT can provide TIFIA credit assisCredit Reform Act of 1990, which requires the DOT to establish a capital reserve, or «subsidy amount,» sufficient to cover the estimated long - term cost to the Federal Government of a Federal credit instrument, including any expected credit losses, before the DOT can provide TIFIA credit assiscredit instrument, including any expected credit losses, before the DOT can provide TIFIA credit assiscredit losses, before the DOT can provide TIFIA credit assiscredit assistance.

Each dollar of Federal funds can provide up to $ 10 in TIFIA credit assistance and support up to $ 30 in transportation infrastructure investment.

On July 31, 2012, DOT published a Notice of Funding Availability (NOFA) in the Federal Register that outlines the credit assistance review process and invites project sponsors to submit a letter of interest (LOI) for TIFIA credit assistance on a rolling basis.

-» (A) IN GENERAL. - To be eligible for assistance under this chapter, a project shall satisfy applicable creditworthiness standards, which, at a minimum, shall include -» (i) a rate covenant, if applicable;» (ii) adequate coverage requirements to ensure repayment;» (iii) an investment grade rating from at least 2 rating agencies on debt senior to the Federal credit instrument; and» (iv) a rating from at least 2 rating agencies on the Federal credit instrument, subject to the condition that, with respect to clause (iii), if the total amount of the senior debt and the Federal credit instrument is less than $ 75,000,000, 1 rating agency opinion for each of the senior debt and Federal credit instrument shall be sufficient.»

In addition to the TIFIA credit assistance, the project is utilizing $ 335 million in GARVEE bonds, $ 272 million in toll revenue bonds, $ 41 million Bond Anticipation Notes (premium), $ 276 million in federal funds and $ 76 million in state road funds.

Title 23 — Highway Projects Title 23 of the U.S. Code and related implementing regulations in Title 23 of the Code of Federal Regulations set forth the rules that govern the design, construction, and operation of federally assisted highway infrastructure projects, including projects financed with TIFIA credit assistance.

Applicants seeking DOT credit assistance must comply with all applicable modal and Federal laws and regulations.

There are several common Federal statutes and regulations that apply to all projects receiving DOT credit assistance, whether TIFIA or RRIF.

The TIFIA established a Federal credit program for eligible transportation projects of national or regional significance under which the U.S. Department of Transportation (DOT) may provide 3 forms of credit assistance — secured (direct) loans, loan guarantees, and standby lines of credit.

As noted in Chapter 1 and in the Letter of Interest / Draft Application discussion in Section 4 - 1 above, the DOT requires applicants for and recipients of DOT credit assistance to reimburse the Federal Government for its out - of - pocket costs for its outside legal counsel and financial advisors needed to review an applicant's Letter of Interest / Draft Application and application, and to negotiate and close the credit agreement.

Applicants also must meet various Federal standards for participation in a Federal credit program as well as modal - specific requirements, among other factors, to receive TIFIA credit assistance.

The TIFIA established a Federal credit program for eligible transportation projects of national or regional significance under which the U.S. Department of Transportation (DOT) may provide three forms of credit assistance — secured (direct) loans, loan guarantees, and standby lines of credit.

On July 31, 2012, the Department published a Notice of Funding Availability (NOFA) in the Federal Register outlining the credit assistance review process and inviting project sponsors to submit a letter of interest (LOI) for TIFIA credit assistance on a rolling basis.

The Department of Transportation will work to identify federal resources for all seven finalists, including providing technical assistance with the Department's grant and credit programs.

Each dollar of federal funding can provide up to $ 10 in TIFIA credit assistance and support up to $ 30 in transportation infrastructure investment.

A federal regulation which requires lenders to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to whether all or part of the applicant's income derives from a public assistance program; or to whether the applicant has in good faith exercised any right under the Consumer Credit Protectiocredit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to whether all or part of the applicant's income derives from a public assistance program; or to whether the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Protection Act.

The Federal Equal Credit Opportunity Act and comparable provisions of Massachusetts law prohibit creditors from discriminating against credit applicants on the basis of race, color, religion, creed, national origin, sex, sexual orientation, ancestry, handicap, marital status, age (provided that the applicant has the capacity to enter into a binding contract), or because all or part of the applicant's income derives from any public assistance prCredit Opportunity Act and comparable provisions of Massachusetts law prohibit creditors from discriminating against credit applicants on the basis of race, color, religion, creed, national origin, sex, sexual orientation, ancestry, handicap, marital status, age (provided that the applicant has the capacity to enter into a binding contract), or because all or part of the applicant's income derives from any public assistance prcredit applicants on the basis of race, color, religion, creed, national origin, sex, sexual orientation, ancestry, handicap, marital status, age (provided that the applicant has the capacity to enter into a binding contract), or because all or part of the applicant's income derives from any public assistance program.

The Federal Trade Commission (FTC), the nation's consumer protection agency, enforces the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assisCredit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assiscredit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protectiocredit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Protection Act.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protectiocredit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Protection Act.

Navy Federal Credit Union is a great option for VA loans due its to low rates and veteran - specific services such as its RealtyPlus real estate assistance program, with agents experienced in finding homes that fit the needs of veterans.

A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.

In addition to federal government help for first time home buyers, many community, city, county and state agencies offer down payment grants and down payment assistance, which have unique qualification requirements regarding income, assets, credit, occupancy and location.

The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protectiocredit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit ProtectioCredit Protection Act.

ECOA prohibits lenders from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, the fact that all or part of the applicant's income comes from any public assistance program, or the fact that the applicant has exercised any right under any federal consumer credit protection law.

For now, the CFPB will continue to accept consumer complaints about credit reporting and provide individual assistance at the federal level.