Governor and MDOT announces loans to repair and improve LANSING, MICH – Today, Gov. Gretchen Whitmer and the Michigan Department of Transportation (MDOT) announce the award of $4 million in Michigan State Infrastructure Bank (SIB) loans that will repair and improve roads and sidewalks for local communities. “Michigan State Infrastructure Bank loans are a vital tool to help local communities fix the damn roads,” said Gov. Whitmer. “Today’s investments will accelerate the repair of roads damaged by water in Ontonagon County and to install sidewalks in the village of Beverly Hills to avoid further construction delays or disruptions to daily life. Getting this done will help families get to where they need to go, support local jobs, and keep the community safe.” The Ontonagon County Road Commission (OCRC) will receive a $2 million SIB loan to repair multiple roads within Ontonagon County that were damaged from excessive spring water runoff earlier this year. A SIB loan is desperately needed to ensure roads are restored and residents have access to their homes and places of employment. Delaying repairs may cause more roads to be closed. Overall, the county experienced $8.1 million in flood damages. “The OCRC appreciates MDOT and the Michigan State Infrastructure Bank for this loan to help restore and repair three roads that are still closed to residents, one storm sewer drain system, and four drainage culverts that were damaged beyond repair,” said Ryan DeHut, OCRC manager. “Securing this loan will facilitate repair of two critical sites this fall and allow the road commission to work with engineering services over the winter to develop plans to repair the remaining sites in Fiscal Year (FY) 2024.” A $2 million SIB loan will also go to the Village of Beverly Hills in Oakland County, supporting the local costs associated with projects identified in their $5.9 million Sidewalk Connector Program. These projects involve the installation of more than 6 miles of sidewalk in their community and are focused on “providing safe, walkable, and accessible infrastructure for nonmotorized users at all times.” About the Michigan State Infrastructure Bank The SIB loan program was established as a pilot program under Section 350 of the National Highway System Designation Act of 1995 (NHS Act). The NHS Act authorized the creation of the Michigan SIB loan program to provide loans to public entities (county road agencies, cities, villages, or MDOT) for eligible transportation improvements. The SIB loan program complements traditional funding techniques and serves as a useful tool to meet urgent project financing demands. The SIB is not able to be used to finance operating or administrative costs, nor is it intended to operate as a grant fund for transportation projects. The goal of the program is to address customer financing needs in a timely and flexible fashion. Applications will be accepted year-round and will be evaluated by MDOT staff as quickly as possible. More information about the program is available online at www.Michigan.gov/MDOT/ |
MDOT: loans to improve infrastructure in Oakland County
