TOTAL ROAD IMPROVEMENT PROGRAM (TRIP)
According to the “California Statewide Local Streets and Roads Needs Assessment” Report, local agencies are currently facing a $73 billion street funding shortfall. The Total Road Improvement Program (“TRIP”) is a financing program that helps local agencies to “catch up” with their street repairs/transit projects by funding more projects upfront. Through TRIP, local agencies borrow against their future local transportation sales tax revenues (counties with a dedicated, voter-approved, local transportation tax) at low interest rates for up to 30 years.
- No General Fund Exposure
- No Voter Approval Required
- No Leased Assets Required
- Flexible Financing Terms
- Potential for Economies of Scale
- 15 Cities throughout California
- Over $300M of Projects Funded
For more information, please contact us.