$280 Million in ODOT TRAC Requests Creates Substantial Competition and Interest in P3s and EB-5 Transportation Funding
Dave Robinson.
The Montrose Group.
Funding for “major new capacity projects” with the Ohio Department of Transportation (ODOT) are awarded through the Transportation Advisory Council (TRAC). Applications for TRAC funding were due on July 31, 2017, and 13 projects filed for a total of $280 M. The Ohio Transportation Budget, House Bill 26, recently enacted allocated $59.5 M in funding for Major New Program funding per year in the FY 2018-FY 2019 biennium, considerably less than the amount spent in this area during FY 2017. The high demand for state transportation funding will create substantial competition through the TRAC process as well as interest in exploring alternative P3 funding options. Click HERE for the full article. For access to the full article, click HERE.
Coming Up in July: Everything You Wanted to Know about Fiscal Impact and JEDDs
Ohio’s Joint Economic Development District (JEDD) program is the major state program that enables collaboration among municipalities and townships to encourage investment and job creation. Over the past few years, the JEDD program has undergone a number of significant changes that impact on its practical use.
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The Ohio Economic Development Association’s annual Excellence Awards program recognizes the achievements of individuals and organizations in Ohio in the areas of economic and workforce development. Submit your nominations today and have excellence in your community recognized statewide!
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