Atlanta, Georgia – Recently, the State Road & Tollway Authority (SRTA) revealed a major financing plan meant to improve Georgia’s transportation system. The Georgia Transportation Infrastructure Bank (GTIB) plans to distribute a total of $16 million—loans and grants combined. This program is targeting municipal, regional, and state government organizations as well as community improvement districts. Opened on November 12, 2024, the application process is projected to improve transportation and stimulate economic development in metropolitan and rural parts of the state.
The current funding round represents the 12th iteration of the GTIB program, which has been an important participant in infrastructure development in Georgia since its founding. With funds set aside by Georgia’s General Assembly for 2025, the GTIB program keeps filling important financing gaps and speeds important initiatives enhancing community infrastructure and connectivity. Applications will be approved through January 14, 2025, therefore attesting to a continuous dedication to comprehensive state transportation enhancements.
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The SRTA Board gave approval in June 2024 for the distribution of up to $2 million in GTIB funds to help meet Federal Transportation Alternatives (TA) budget matching requirements in an attempt to promote rural communities. This is the first time in program history that entities with populations less than 5,000 can mix GTIB and TA money to fast-track initiatives emphasizing alternative mobility options including cycling and walking paths. Local Maintenance and Improvements Grant (LMIG) funds can also be used to repay GTIB debts and as a match for TA money.
“We are excited to offer $16 million in GTIB funding this year, a significant investment that underscores our commitment to supporting impactful projects,” said Jannine Miller, Executive Director – SRTA, Director of State Planning – GDOT.
“I am grateful to the SRTA Board and its Chairman Governor Kemp, for their support of rural communities across Georgia. By streamlining the application process and allowing smaller towns to combine GTIB and TA funding, we’re creating new opportunities for bicycle and pedestrian infrastructure projects,” Miller added.
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SRTA continued its approach of leveraging loans to expand financial resources by funding five transforming initiatives with $16.9 million in 2023. With $6.6 million allocated ($5.6 million as a loan and $1 million as a grant), a project close to the State’s Middle Georgia Megasite in Peach County notably attracted large funding, so highlighting the state’s commitment to rural infrastructure development in line with Governor Brian Kemp’s initiatives.
The GTIB has given grants and loans totaling over $216 million since 2010, helping projects worth more than $1.1 billion come to pass. These projects have had tangible benefits, including improved access to downtown Woodstock, expedited repaving in Pike County, and better commercial traffic routes in Pierce County.
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The GTIB program is competitive, evaluating applications based on engineering merit, economic benefit, local matching money, and project viability. Projects seeking grants more than $2 million may get money for up to 33% of their overall cost. Although grants and loans below this level are not subject to limitations, local matching contributions improve the likelihood of an award. Appropriate projects cover relevant infrastructure investments for bicycles, pedestrians, and traffic control as well as road and bridge improvements.
For those interested in applying or seeking more information, details can be found on the official SRTA website or by contacting David Cassell at [email protected]. Every submission will be carefully examined, and by the summer of 2025 the SRTA Board should announce its final decisions.
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Key player in Georgia’s transportation sector, SRTA continues to operate tolled facilities and handling toll collection on the Express Lanes System, therefore proving its essential influence on the state’s transportation landscape.
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