CIFS offers expertise on a variety of innovative finance options, including Grant Anticipation Revenue Vehicles
(GARVEEs), State infrastructure banks, revenue tools, and public-private partnerships.
The $635 million project relies on a $211 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, a $125 million Grant Anticipation Revenue Vehicles
(GARVEE) bond and more than $53 million in other federal-aid funding.
According to Bouchard, the federal government also allows states to borrow against any anticipated federal highway grants through the use of grant anticipation revenue vehicles
, or GARVEE, bonds.
Grant Anticipation Revenue Vehicles
, or GARVEE bonds as they are commonly known, are financing instruments available to states for transportation projects.
While it was subsequently extended 10 times, lack of a longer term commitment left many feeling unsure of the federal government's commitment to transportation funding, including grant anticipation revenue vehicles
The center provides assistance with many highway financing options, including Grant Anticipation Revenue Vehicles
(GARVEEs), State infrastructure banks, tolling, and pricing, among others.
Debt rose in recent years with issuance of federal grant anticipation revenue vehicles
(GARVEEs) for highway purposes; there is approximately $593 million in GARVEEs outstanding.
NEW YORK -- Fitch Ratings has updated its criteria report for rating grant anticipation revenue vehicles
Information pertaining to major projects and financial tools such as private activity bonds and grant anticipation revenue vehicles
is updated frequently, and the TIFIA interest rate is updated daily.
NEW YORK -- Today, Fitch Ratings released a special report highlighting the credit risks for grant anticipation revenue vehicles
(GARVEEs) associated with the decline of the highway trust fund (HTF) balance.
These will include grant anticipation revenue vehicles
, to be issued in 2009.