Peach Tree Times

ATLANTA, Georgia – On June 27, 2023 Governor Brian Kemp and the State Road and Tollway Authority (SRTA) Board of Directors announced the approval of $17.3 million in Georgia Transportation Infrastructure Bank (GTIB) loans and grants that will help fund seven transportation infrastructure projects across the state.Since 2010, GTIB has awarded $200 million in grants and loans investing in projects with a combined project value exceeding $1 billion, demonstrating the impact of the state’s investment and outstanding partnerships with local governments and community improvement districts (CIDs) in Georgia over the past 13 years. The considerable and wide-ranging GTIB funding during Governor Kemp’s first term is a testament to his administration’s commitment to increasing Georgia’s mobility, positively impacting the state’s economy.

"Georgia is in the midst of a second industrial revolution, and as a result the need to further build out our infrastructure has never been greater," said Governor Brian Kemp. "Thanks to SRTA, this year we are able to fund all of the rural projects that submitted an application for this statewide program. With these substantial awards, we are paving the way for economic growth, expanded opportunities, and seamless mobility for all hardworking Georgians, regardless of their zip code. Together, we continue to build a stronger Georgia, one road at a time."

Since its inception in 2010, GTIB has provided strategic state investments in critical transportation projects that enhance mobility in local communities throughout Georgia. Applications are evaluated on a competitive basis. Criteria include transportation/engineering merit, economic merit, matching funds, and project specifics such as project phase and feasibility.

Loan applications are also evaluated for creditworthiness and overall project merits. An advisory committee comprised of representatives from state agencies and statewide associations evaluate SRTA staff recommendations and make final recommendations to the SRTA Board. Funds distributed by GTIB are used for capital expenses related to road and bridge infrastructure work.

“Transportation infrastructure projects often entail large upfront costs. Having the options of grants and low interest loans from the state not only makes these projects more affordable but reduces the pressure on local budgets to support other important services to citizens,” said SRTA Executive Director Jannine Miller. “Serving as a funding partner with local communities, cities and counties to build transportation projects that promote economic development and mobility is a win-win for Georgia’s citizens and businesses.”

The GTIB application window started October 24th and closed on Wednesday, January 20, 2023. Fiscal Year 2023 awardees, project descriptions, and funding amounts are as follows:

City of Colquitt

4th Street Resurfacing and Widening

This project will resurface 4th Street from Main Street to MLK Jr. Street, a distance of approximately 3,500 feet. Lane widths will be expanded which will improve safety and traffic flow along a street that carries freight traffic regularly during business hours. GTIB funding will expedite the project by 5 years.

GTIB Loan Award: $526,772

GTIB Grant Award: $400,000

City of Lilburn

Lilburn Town Center Connection

This project will extend Railroad Avenue for approximately one-third of a mile to connect with Terry Lane. Terry Lane will be upgraded with curb and gutter improvements, realigned with Pine Street, and a left turn will be added on Pine Street onto US 29. The resulting road will provide improved access to US 29/SR 8 (Lawrenceville Highway) and support recent and future developments in the downtown area.

GTIB Loan Award: $4,700,000

Buckhead CID

Lenox Road Safe Street Section 3

This project will consist of pedestrian, bicycle, streetscape and select traffic improvements along Lenox Road from Piedmont Road to Phipps Boulevard. The resulting multi-use path will include a bridge over SR 400 parallel to Lenox Road, connecting to Path 400 extending its distance southward. Traffic improvements include signal timing and drainage improvements.

GTIB Loan Award: $2,000,000

City of Twin City

Revitalization Road Project

This project will resurface thirteen roads in the city for a distance of approximately five miles. The addition of GTIB funding will expedite the project by approximately ten years.

GTIB Loan Award: $250,000

GTIB Grant Award: $350,000

City of Woodstock

Hub Transformation Key Extension

This project will widen Town Lake Parkway by one to three lanes from Mill Street to just east of its intersection with I-575 where it meets a planned GDOT/Cherokee County interchange expansion project. The improvement will increase access to downtown Woodstock and reduce the likelihood of traffic backing up to the I-575 exit ramp.

GTIB Loan Award: $1,500,000

GTIB Grant Award: $825,000

Monroe County

Old Brent Road Bridge Project

This project will replace the existing bridge on Old Brent Road which has been closed since 2022 due to structural failures. The new bridge would be a prefabricated structure, allowing it to be opened to traffic and mitigate flooding that can occur further upstream at SR 83.

GTIB Grant Award: $794,930

Pike County

Pike County Resurfacing Project

This project will repave seventeen roads throughout the county. The addition of GTIB funds will reduce the project from eight to two years thereby minimizing the impact of inflation and allowing cost savings via economies of scale in contracting.

GTIB Loan Award: $4,967,660

GTIB Grant Award: $993,532

For more information about the GTIB program, visit www.srta.ga.gov/gtib.

Original source can be found here.