Eligibility
To be eligible for TRLF financing, a project must be eligible under Title 23 (Highways) or Title 49 (Transit Capital) of the U.S. Code; and Minn. Stat. Sec. 446A.085 subd. 2.
Eligible projects include, but are not limited to, pre-design studies; acquisition of right-of-way; road and bridge maintenance, repair, improvement, or construction; enhancement items; rail and air safety projects; and transit capital projects.
Minimum Requirements
Applicants must demonstrate the financial ability to repay the loan and have complete financing for the project. Borrowers must issue a general obligation or revenue bond to the PFA as security for the loan. Loans can be amortized up to a maximum of 30 years but cannot exceed the useful life of the project.
Financing options include conventional loans, loan guarantees, lines of credit, credit enhancements, equipment financing leases, bond insurance, and other forms of financial assistance.
Loan Replacement Sources
Possible loan replacement sources are property tax levies, special assessments, tax increment financing, local government option sales taxes, future federal funds, future state funds, and customer fees from revenue-generating projects such as parking ramps, park and ride lots, and intermodal facilities.
Interest Rates and Fund Disbursement
The PFA sets a discount interest rate from a municipal bond index. An additional discount of one percent is provided for borrowers with population less than 5,000. Loan funds are disbursed on a monthly basis as costs are incurred.
Application and Approval Process
Applications are submitted to the appropriate MnDOT district for initial review and approval by the Area Transportation Partnership. Applications that are approved by the ATP, certified by MnDOT and approved by the PFA will receive funding.
General Contacts
Contact Information
MN Public Facilities Authority
1st National Bank Building, Suite W820
332 Minnesota Street
Saint Paul, MN 55101-1378
MN.PFA@state.mn.us
651-259-7469
1-800-657-3858
Fax: 651-296-8833
Staff Contact Information
Jeff Freeman, Executive Director
651-259-7465
Karin Berkholtz, Deputy Director
651-274-1742
Jennie Brown, Compliance Coordinator
651-259-7683
Steve Walter, Chief Financial Officer
651-259-7472
Melissa Ralph, Accounting Officer
651-259-7496
Melissa Wilwert, Fiscal and Administrative Specialist
651-259-7295
Kathe Barrett, Senior Loan Officer
651-259-7464
Angela Berrens, Senior Loan Officer
651-259-7497
Mary Jane Schultz, Senior Loan Officer
651-259-7467
Peter Bradshaw, Senior Loan Officer
651-259-7689
Drew Brooksbank, Senior Loan Officer
651-259-7131
Paul Perez, Senior Loan Officer
651-259-7475
Pete Montoya, Senior Loan Officer
651-259-7300
