Application Period Opens March 21st
HARRISBURG – State Senator Gene Yaw (R-23) today encouraged municipalities, councils of governments, businesses, economic development organizations and public transportation agencies throughout the 23rd Senatorial District (Bradford, Lycoming, Sullivan, Susquehanna and Union) to apply for funding through the state’s newly created Multimodal Transportation Fund (MTF).
In a recent announcement made by the Pennsylvania Department of Community and Economic Development (DCED), the Commonwealth Financing Authority (CFA) has officially adopted guidelines for the MTF, and encouraged eligible applicants interested in enhancing their communities, pedestrian safety and transportation assets, to apply for funding.
“The Multimodal Fund is another example of how transportation dollars can be returned to local communities,” Yaw said. “This funding would not be possible if it were not for the strong support of individuals who saw the importance and the need to address a core function of government – providing for a safer transportation network in our communities. Now there is another opportunity to bring more of this money back to rural Pennsylvania.”
The MTF, adopted as one component of Pennsylvania’s 2013 Transportation Funding Plan (Act 89), would provide funding for rail service, bus and transportation center improvements; streetscape, lighting, sidewalk and bicycle/pedestrian safety enhancements; coordinating transit services; rail-freight sidings and freight track upgrades, to name a few.
Additionally, financial assistance under the MTF must be matched by local funding in the amount not less than 30 percent of the non-federal share of the project cost. Matching funds from a county or municipality must consist of cash contributions provided by one or more counties or municipalities. Matching funds from other eligible entities must consist of cash contributions or cash equivalents for the appraised value of the real estate.
Grants are available for projects with a total cost of $100,000 or more and grants shall not exceed $3 million unless the CFA determines the significant economic impact based on private investment and job creation justifies a larger award.
The CFA will begin accepting applications for the MTF on March 21, 2014 with the application period closing on June 20, 2014. Based on projections, the CFA is anticipated to receive $40 million in Fiscal Year 2014-15.
To apply for funding, the applicant must submit the electronic on-line DCED Single Application for Assistance located at www.esa.dced.state.pa.us.
According to Yaw, any eligible applicants needing assistance completing the application are encouraged to contact any of his offices. More information about the CFA is also available at www.newPA.com or call 1-866-466-3972.