The Commonwealth Financing Authority is now accepting applications for Multimodal Transportation Project Grants. The deadline for applications is June 20.
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.
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.
Based on projections, the CFA is anticipated to receive $40 million in Fiscal Year 2014-15.
For guidelines and information on how to apply, visit the CFA’s Multimodal Transportation Project Grants webpage.
