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Bank reopens rural program; staff report applicants closing June deadline
Summary
The board discussed the reopened rural program and a rural project example (Exit 3). Staff said applications opened in March and close in June; a February workshop drew county and MPO/COG participation.
Board members said the Infrastructure Bank has reopened its rural program and encouraged counties without penny sales taxes or other local resources to apply.
The CEO told the board the rural program—reopened in November 2024—had yielded three earlier applications that were ineligible, and the board extended the application window from 60 days to 90 days. Staff held a late‑February workshop that attracted roughly eight to 10 counties and regional planning organizations to answer questions about eligibility. Applications opened in March and are due in June, the CEO said, and staff reported that several inquiries were active as of the week before the meeting.
Chair John White said Exit 3 is an example of a rural project the bank seeks to support so communities without local tax capacity can benefit from infrastructure-driven economic development. The board said it will provide a fuller report on rural program applications at the next meeting.
