Key West Transit Development Plan FY2025-2034

10.3 Financial Strategies for Implementation

State Block or Service Development Grants. If this becomes evident in discussions with the transit partners at FDOT District Six, the projected budget deficit would balance and ideally, projects from the Long-Term Plan could essentially be elevated to be included in the Short-Term Plan since they would then be financially feasible. The following are additional recommendations to consider as KWT strategically implements improvements. Funding for capital projects should be addressed proactively. Typically, for large capital expenses like the KWIC and fleet replacement, transit agencies utilize some gap funding techniques to enable award of contracts and completion of the projects: » City Revenue Bonds for Capital Projects » Short-term Asset-backed loans from the Private Sector » National Infrastructure Bank in the form of Loans, Loan Guarantees or Lines of Credit » City Inter-fund transfers and internal asset loans » Agreement with FTA for a full-funding agreement, pledging future formula allocations in return for an early release of 5311 and 5339 Grant expenditure authority The following are grants and resources which are further described in this section and warrant exploration for funded and unfunded alternatives:

❒ FDOT Toll Revenue Credits ❒ USDOT Capital Investment Grants (New Starts, Small Starts and Core Capacity) ❒ USDOT Low or No Emission Vehicle Program (Low-No)

❒ USDOT Rural and Small Urban Transit Program ❒ USDOT State of Good Repair Grants (Section 5337)

❒ USDOT Bus and Bus Facilities Formula Grants (Section 5339) ❒ USDOT Advanced Transportation Technologies and Innovation (ATTAIN) ❒ USDOT Buses and Bus Facilities Program ❒ USDOT Charging and Fueling Infrastructure Discretionary Grant Program (CFI) ❒ USDOT Promoting Resilient Operations for Transformative, Efficient, and Cost-saving Transportation Grant (PROTECT) Program ❒ USDOT Rebuilding American Infrastructure with Sustainability and Equity Grants (RAISE) ❒ USDOT Reconnecting Communities and Neighborhoods Grant Program ❒ USDOT Rural Surface Transportation Grant Program ❒ USDOT Safe Streets and Roads for All (SS4A) Grant Program: SS4A Planning and Demonstration Grants

❒ USDOT Accelerating Innovative Mobility (AIM) ❒ USDOT Enhancing Mobility Innovation (EMI) ❒ USDOT Integrated Mobility Innovation (IMI)

❒ FDOT Public Transit Service Development Grants ❒ FDOT Transit Corridor Grants ❒ FDOT Florida Rural Transit Administration Program (RTAP) ❒ FDOT Park and Ride Lot Program Grants

❒ USDOT Mobility on Demand (MOD) Sandbox programs 5312 ❒ USDOT Pilot Program for Innovative Coordinated Access and Mobility Grants (ICAM)

Transit Development Plan FY 2025–2034

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