This Federal Transit Formula Grant award, provided by the U.S. Department of Transportation's Federal Transit Administration (CFDA 20.507 Federal Transit Formula Grants), will provide $24,295,105 to the Tri-County Metropolitan Transportation District of Oregon (TriMet) to make debt service payments on capital grant receipt revenue bonds. These bonds were issued to fund transit-related projects, including the Division Transit Project. The purpose is to ensure timely payment of debt service requirements, which helps TriMet maintain a high credit rating and obtain favorable terms for future bond issuances to continue financing transit infrastructure improvements in the region. The award period is from July 1, 2024 to June 30, 2025. TriMet, the sole recipient, will not subaward any of the funds.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $21.8m | 7/1/24 |