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.
The center provides assistance with many highway financing options, including Grant Anticipation Revenue Vehicles
(GARVEEs), State infrastructure banks, tolling, and pricing, among others.
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.