ACEC-ODOT Conference Monday, March 6, 2006. Project Funding Federal Funds State Funds Summary.

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Presentation transcript:

ACEC-ODOT Conference Monday, March 6, 2006

Project Funding Federal Funds State Funds Summary

Federal Funds SAFETEA-LU –Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users Enacted August 10, 2005, as Public Law SAFETEA-LU authorizes the Federal surface transportation programs for highways, highway safety, and transit for the 5-year period

Federal Funds (cont’d) Different Categories (sometimes referred to as “colors of money”) –Formula Receive annually Used on most projects –Earmarks Project specific funding From SAFETEA-LU –Funds paid out over life of Act From Annual Appropriations Bill –Should be “obligated” in the year received

State Funds Oregon Transportation Investment Act (OTIA) –Legislative authority given to ODOT to issue bonds for transportation needs I/II/III –Modernization, Preservation, Bridge –State and Local projects received funding –Must be spent within a specified time frame Project specific funding –Approvals/changes by Committee

State Funds (cont’d) Non-bonded funds –Derived from license and registration fees, gas taxes and weight-mile taxes, etc. –Shared with Counties and Cities –Work must be gas-tax eligible Used as match for federal projects Stand alone projects

Summary Project can be funded with any funding source previously mentioned –Either as a sole source or any combination –Important to not only know how a project funded, but also if specific work within the project will have specific funding Must be designed according to funding ALWAYS ASK!

Contact Information Steve Leep Program and Funding Services Manager, Highway Finance Office ODOT (503)