An innovative mechanism developed to achieve the goals and objectives of NITTEC in Western New York and Southern Ontario, the Revolving Loan Fund has been capitalized by a $5 million Federal Aid Grant.

Eligibility

To be eligible for RLF funding, you must be a participating NITTEC Member Agency or sponsored by a NITTEC Member Agency, and the project must

• Support the mission/vision of NITTEC
• Have a sound fiscal repayment plan
• Have a member partner/sponsor
• Have an implementation plan that addresses Operations and Maintenance issues
• Have a service life that exceeds the term of the loan

Selection

Project selection will be made based on the following criteria:

• Improve transportation mobility
• Improve safety
• Improve operations
• Improve international mobility
• Improve air quality
• Compatibility with regional systems/partners
• Contains ITS elements
• Innovativeness
• Positive benefit/cost ratio
• Rate of return of loan funds
• Contains marketing/public relations outreach plan
• Leveraging of funds
• Public/private partnership

The Revolving Loan Fund is available year-round.  The borrowing interest rate will be a fixed rate equal to 75% of the previous month-end's prevailing U.S. Treasury note rate or otherwise authorized by the Board of Directors.  To learn more about project selection criteria and how to apply for a loan, call 716.847.2450.