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TLDA approves State Infrastructure Fund borrower guidance after TDOT collaboration

October 20, 2025 | Comptroller of the Treasury, Agencies, Boards, Commissions, and Councils, Organizations, Executive, Tennessee


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TLDA approves State Infrastructure Fund borrower guidance after TDOT collaboration
The Tennessee Local Development Authority voted Oct. 20 to adopt policy and guidance for borrowers under the State Infrastructure Fund, a program created by the Public Acts of 2009, chapter 525.

Ms. Carr, TLDA staff, told the board that the statute created the State Infrastructure Fund and that about $2.2 million was transferred to the fund in 2010. She said the Tennessee Department of Transportation, as part of its FY 2026 budget, received an additional $50,000,000 to allocate to the SIF and that staff have worked with TDOT to draft borrower guidance for board consideration.

Ms. Carr said the SIF guidance follows the TLDA’s existing SRF policy and guidance for borrowers but would apply to a broader set of projects, including streets and highways, airport facilities, rail and port facilities, mass transit systems, parking facilities, and pedestrian and bicycle facilities. “The SIF program though will fund such projects as streets, highways … air transport and airport facilities, railways and rail facilities, port facilities, mass transit systems, parking facilities, and pedestrian or bicycle facilities as may be recommended by TDOT,” she said.

Ms. Carr also noted that TDOT previously recommended and the authority approved one loan to the City of Lakeland in March 2011 but that no other loans had come before the authority under the SIF.

TDOT representatives Preston Elliott, deputy commissioner of planning, and Jay Kwan, director of legislative affairs, attended to respond to questions from the board.

The board approved the SIF policy and guidance on a roll-call vote: Treasurer Lillard — Aye; Secretary Hargett — Aye; Comptroller Mumpower — Yes; Commissioner Bryson — Aye; Mayor Brown — Aye; Mayor Bradshaw — Aye.

With approval, TLDA staff and TDOT may proceed with implementing the SIF borrower guidance and processing future SIF loan requests under the new policy.

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