TOTAL ROAD IMPROVEMENT PROGRAMS (TRIP)
Overview
According to the "California Statewide Local Streets and Roads Needs Assessment" Report, local agencies are currently facing a $73 billion street funding shortfall. The Total Road Improvement Program ("TRIP") is a financing program that helps local agencies to "catch up" with their street repairs/transit projects by funding more projects upfront. Through TRIP, local agencies borrow against their future local transportation sales tax revenues (counties with a dedicated, voter-approved, local transportation tax) at low interest rates for up to 30 years.
Program Highlights
•No General Fund Exposure
- •No Voter Approval Required
- •No Leased Assets Required
- •Flexible Financing Terms
•Potential for Economies of Scale
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- Proven Program