Napa Valley Transportation Authority (NVTA) has secured a direct Transportation Infrastructure Finance and Innovation Act (TIFIA) loan from the U.S. Department of Transportation. The 35-year loan of up to $19.92 million will help NVTA construct its planned Vine Bus Maintenance Facility Project.
The 31,504-square-foot transit maintenance facility with a 40-year useful life will replace NVTA’s currently leased transit yard in Napa, Calif., providing NVTA a facility that meets its needs, including charging infrastructure for NVTA’s new electric bus fleet. The new facility will include up to eight maintenance bays, a modern bus wash, a regional meeting center and Transit Emergency Operations Center.
The project will provide a variety of benefits including addressing growing transit needs to reduce emissions from single occupancy vehicles, improving operational efficiencies and safety of fleet management and providing photovoltaic system to support electric vehicles zero-emission targets. The project will also create 624 direct and indirect jobs and spur growth/development in the area.
“The new bus facility will help modernize Napa Valley transit buses as they transition to electric,” said U.S. Transportation Secretary Pete Buttigieg. “This project will invest in the community’s infrastructure, create jobs, improve safety and combat climate change.”
A fact sheet on the project that was last updated in 2019 puts project costs at approximately $38 million. The loan is provided through the Build America Bureau under its Rural Projects Initiative (RPI). TIFIA RPI loans can cover up to 49 percent of a project’s eligible costs with fixed interest rates equal to one half of the U.S. Treasury rate of equivalent maturity of the loan at the time of closing.
USDOT explains TIFIA RPI helps improve transportation infrastructure in America’s rural communities with eligible project sponsors required to be in a rural of no more than 150,000 people and have an eligible surface transportation project between $10 million and $100 million in cost.
“The bureau is pleased to work with the Napa Valley Transportation Authority to bring this project to fruition through low-interest, long-term financing,” said Build America Bureau Executive Director Morteza Farajian. “The new TIFIA Rural Projects Initiative provides affordable options for communities to move critical projects forward.”
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