Utah Administrative Code
Topic - Transportation Commission
Title R940 - Administration
Rule R940-3 - State Infrastructure Bank Fund
Section R940-3-4 - Prioritizing Requests for an Infrastructure Loan or Infrastructure Assistance
Universal Citation: UT Admin Code R 940-3-4
Current through Bulletin 2024-06, March 15, 2024
(1) Criteria. The commission will follow a prioritization framework that may include the following criteria to evaluate and prioritize requests for a loan or assistance:
(a) availability of money in the
fund, including for a loan or assistance related to a project in a greenfield
area, whether money is available in the separate account created for projects
in greenfield areas as described in Subsection
72-2-202(5);
(b) evidence the project will encourage,
enhance, or create economic benefits to the state or political
subdivision;
(c) the likelihood
that a loan or assistance will enable the project to proceed at an earlier date
than would otherwise be possible;
(d) the extent to which assistance will
foster innovative public-private partnerships and attract private
investment;
(e) the project
demonstrates that it provides a benefit to the state highway system, including
safety or mobility improvements;
(f) the proposed assistance amount as a
percentage of the overall project costs with an emphasis on local and private
participation;
(g) the extent to
which the project provides intermodal connectivity with public transportation,
pedestrian, or nonmotorized transportation facilities; or
(h) other provisions the commission considers
appropriate.
(2) Scoring. The commission will apply a framework to determine the score it assigns to qualified projects for prioritization purposes. This framework is located on the department's website: udot.utah.gov/go/SIB and is incorporated by reference.
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