Grant OR-2024-021
FY2024 · complete year · data as of 2026-07-03
A single federal award, with both ends of the trail linked.
Award OR-2024-021 is a grant from the Department of Transportation to Tri-County Metropolitan Transportation District of Oregon, $21.8M obligated, FY2024 to FY2026. The work is performed in Oregon. Source
Description
Application Purpose: This Grant Includes Fhwa Fy 2024 Congestion Mitigation Air Quality (CMAQ) and Fhwa Fy 2024 Surface Transportation Block Grant Program (STBG) Funds Transferred to FTA Section 5307 for Trimet to Make Debt Service Payments on Capital Grant Receipt Revenue Bonds That Were Issued to Fund Transit Related Projects Including But Not Limited to Division Transit Project (Dtp). These Funds Have Been Committed by Metro and Payments Obligated by Trimet Through an Iga. Prior Years Funding for This Activity Has Been Awarded Under Grants: OR-2021-046 OR-90-X131 OR-95-X009 OR-95-X033 OR-95-X053 OR-2016-014 OR-2018-011 OR-2019-010 OR-2020-011 OR-2022-037 and OR-2023-013. ; Activities Performed: Annual Debt Service (Including Principal Gains/Losses Premiums/Discounts and Interest) Payments on the Series 2017A Capital Grant Receipt Revenue Refunding Bonds and the 2018A Capital Grant Receipt Revenue Bonds. Bonds Issued in 2017 Were to Refund a Portion of the 2011AB Bonds.; Expected Outcomes: Timely Payment of Debt Service Requirements Is One of Several Factors for Trimet to Continue Receiving a High Credit Rating by External Parties Which Can Lead to Obtaining Higher Market Values in Future Bond Issuances for Trimet to Continue Financing Certain Transit Projects in Our Capital Improvement Program (Cip). This Grant Will Support Transit Projects That Provide Access and Reliability to Trimet Transit Projects and Have a Positive Effect on Congestion and Air Quality.; Intended Beneficiaries: Trimet Prospective Investors Underwriters and Rating Agencies of Future Trimet Capital Bonds. Metro and Trimet Staff to Continue Implementing Projects Set Forth in the Regional Funding Plan. ; Subrecipient Activities: The Recipient Does Not Intend to Subaward Funds.