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El Paso FOAC recommends council seek TxDOT SIB loans to meet MPO local-match requirements
Summary
A City of El Paso committee recommended that the City Council authorize applications for State Infrastructure Bank loans through TxDOT to cover local match requirements for federally funded Metropolitan Planning Organization projects, endorsing up to $39.12 million in loans and advancing the strategy for council consideration.
The City of El Paso Financial Oversight and Audit Committee on April 1 recommended that City Council authorize staff to apply for State Infrastructure Bank (SIB) loans from the Texas Department of Transportation to meet local-match requirements for federally funded projects programmed by the Metropolitan Planning Organization.
Joaquin Rodriguez, grant‑funded program director in the Capital Improvements Department, told the committee the SIB loans are a low‑interest alternative to one‑time capital asset sales and could provide a predictable source of local match for MPO projects. “The SIB loans offer us a more predictable and sustainable alternative to those one‑time funds,” Rodriguez said.
Rodriguez said the city had executed about $117.5 million in federally and state…
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