Dauphin County Infrastructure Bank (DCIB)

About the Program

Category: Community and Economic Development (Best in Category)

Year: 2014

Dauphin County has responsibly invested its Liquid Fuels funds to replace, improve, and maintain the County’s bridges. As a result, the County is in a unique position to invest its surplus Liquid Fuels allocation funding in support of a new program to assist communities and private entities with financing surface transportation improvement projects that support economic development. Established through a unique partnership with the Pennsylvania Department of Transportation (PennDOT), the DCIB would be established to finance county surface transportation projects at very favorable terms compared to alternative sources of funding. The DCIB is a revolving loan program that could grow to as much as $30 million over the next several years. Projects from qualified borrowers will be required to comply with PennDOT Liquid Fuels eligibility criteria. Projects should demonstrate a significant economic development benefit, such as job creation, for the County. Potential projects include public road and bridge repair, improvement, or construction; public road reconstruction; public road widening; public road resurfacing; traffic signs, signals, and control systems; improvements required by Highway Occupancy Permits; rail safety projects; and other activities in public road right-of-way. Among the many safeguards of the program, the collateral required for municipalities is a pledge of Liquid Fuels revenue and a letter of credit for private companies. Among several DCIB program advantages, the first is access to attractive financing for both qualified municipalities and private entities undertaking economic development projects. DCIB offers interest rates that are lower than conventional financing and other existing loan programs. Second, DCIB will offer County-led administration of projects and disbursements to ensure projects remain on time and on budget. Dauphin County’s project management personnel, along with County engineer Herbert, Rowland, & Grubic, Inc., will oversee and lead the project delivery process from design through bidding, construction, and commissioning of the project.