A. Any entity constituting an eligible borrower or other project sponsor is eligible to apply to the Board for project financing from the Bank.
B. All applicants for a loan or other financial assistance must file an application with the Board, which must include all items determined by the Board in consultation with the manager to be necessary and appropriate for the Board to determine whether or not to approve the loan, including the availability of reliable repayment sources to retire the project obligation as well as creditworthiness.
C. Each applicant for a loan or other financial assistance must demonstrate that the project is of local, regional, or statewide significance and meets the public interest identified in subsection A of § 33.2-214.1. Another criterion to be considered is whether or not the loan or other financial assistance will enable the project to be completed at an earlier date than would otherwise be feasible. The Board shall issue guidelines for scoring projects in accordance with subsection B of § 33.2-214.1 and any other criteria deemed necessary and appropriate for evaluating projects as determined by the Board in consultation with the manager and shall apply the scoring guidelines to each proposed project. Further, the Board shall promptly publish each proposed project and its score using the scoring guidelines.
D. All projects for which a loan or other financial assistance is provided must meet and remain in compliance with the policies and guidelines established by the Board and the manager.
2011, cc. 830, 868, § 33.1-23.9; 2014, c. 805; 2015, c. 684.
Structure Code of Virginia
Title 33.2 - Highways and Other Surface Transportation Systems
Chapter 15 - Transportation Funding
§ 33.2-1500. Legislative findings and purposes
§ 33.2-1502. Creation of the Virginia Transportation Infrastructure Bank
§ 33.2-1503. Eligibility and project selection
§ 33.2-1504. Grants from the Commonwealth Transportation Board
§ 33.2-1505. Project obligations
§ 33.2-1506. Exemption from taxation; exemption from Virginia Public Procurement Act
§ 33.2-1507. Reporting requirement
§ 33.2-1509.1. Moratorium on repayment of funds allocated for access roads program
§ 33.2-1512. Authorization of Notes
§ 33.2-1513. Use of proceeds of Notes
§ 33.2-1515. Form and manner of execution; signature of person ceasing to be officer
§ 33.2-1516. Authority to obtain GARVEE approval
§ 33.2-1518. Deposit of proceeds
§ 33.2-1520. Application of project-specific reimbursements
§ 33.2-1521. Investment of proceeds and other amounts
§ 33.2-1522. Exemption from taxation
§ 33.2-1523. Notes as eligible securities
§ 33.2-1524. Commonwealth Transportation Fund
§ 33.2-1524.1. Transportation Trust Fund
§ 33.2-1525. Administration of Transportation Trust Fund
§ 33.2-1526. Commonwealth Mass Transit Fund
§ 33.2-1526.1. Use of the Commonwealth Mass Transit Fund
§ 33.2-1526.2. Commonwealth Transit Capital Fund
§ 33.2-1526.3. (Effective until July 1, 2024) Transit Ridership Incentive Program
§ 33.2-1526.3. (Effective July 1, 2024) Transit Ridership Incentive Program
§ 33.2-1526.4. Commonwealth Rail Fund
§ 33.2-1526.5. Commonwealth Port Fund
§ 33.2-1526.6. Commonwealth Aviation Fund
§ 33.2-1526.7. Commonwealth Space Flight Fund
§ 33.2-1527. Priority Transportation Fund
§ 33.2-1528. Concession Payments Account
§ 33.2-1529. Toll Facilities Revolving Account
§ 33.2-1529.1. Transportation Partnership Opportunity Fund
§ 33.2-1530. Highway Maintenance and Operating Fund