[Code of Federal Regulations]
[Title 49, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR80.17]

[Page 713-714]
 
                        TITLE 49--TRANSPORTATION
 
          Subtitle A--Office of the Secretary of Transportation
 
PART 80_CREDIT ASSISTANCE FOR SURFACE TRANSPORTATION PROJECTS--Table of Contents
 
Sec.  80.17  Fees.

    (a) The DOT will require a non-refundable application fee for each 
project applying for credit assistance under the TIFIA. The DOT may also 
require an additional credit processing fee for projects selected to 
receive TIFIA assistance. Any required application initiation or credit 
processing fee must be paid by the project sponsor applying for TIFIA 
assistance and cannot be paid by another party on behalf of the project 
sponsor. The proceeds of any such fees will equal a portion of the costs 
to the Federal Government of soliciting and evaluating applications, 
selecting projects to receive assistance, and negotiating credit 
agreements. For FY 2000, the DOT will require payment of a fee of $5,000 
for each project applying for credit assistance under the TIFIA, to be 
submitted concurrently with the formal application. The DOT will not 
impose any credit processing fees for FY 2000. For each application and 
approval cycle in FY 2001 and beyond, the DOT may adjust the amount of 
the application fee and will determine the appropriate amount of the 
credit processing fee based on program implementation experience. The 
DOT will publish these amounts in each Federal Register solicitation for 
applications.
    (b) Applicants shall not include application initiation or credit 
processing fees or any other expenses associated with the application 
process (such as fees associated with obtaining the required preliminary 
rating opinion letter) among eligible project costs for the purpose of 
calculating the maximum 33 percent credit amount referenced in Sec.  
80.5(a).
    (c) If, in any given year, there is insufficient budget authority to 
fund the credit instrument for a qualified project that has been 
selected to receive assistance under TIFIA, the DOT and the approved 
applicant may agree upon a supplemental fee to be paid by or on behalf 
of the approved applicant at the time of execution of the term sheet to 
reduce the subsidy cost of that project. No such fee may be included 
among eligible project costs for the purpose of calculating the maximum 
33 percent credit amount referenced in Sec.  80.5(a).

[[Page 714]]

    (d) The DOT will require borrowers to pay servicing fees for each 
credit instrument approved for funding. Separate fees may apply for each 
type of credit instrument (e.g., a loan guarantee, a secured loan with a 
single disbursement, a secured loan with multiple disbursements, or a 
line of credit), depending on the costs of servicing the credit 
instrument as determined by the Secretary. Such fees will be set at a 
level to enable the DOT to recover all or a portion of the costs to the 
Federal Government of TIFIA credit instruments.

[65 FR 44940, July 19, 2000]