In 2013, TED awarded $15.7 million in funds matched by $25 million from private and other public sources.
2014 TED Solicitation Update - FAQ
Many people are inquiring about the status of the 2014 TED Program solicitation. With the legislative session now complete, here is what we know so far:
Will there be a TED solicitation?
The TED program has state trunk highway funding set aside for state fiscal year 2016 (which begins on July 1, 2015) and also for SFY 2017. Therefore, there are funds for a solicitation that could take place in 2014. Projects selected and financed using these funds would have roughly a full year to develop the project, since funding would not be available until summer of 2015.
How much funding for the program can we expect?
The program currently has a total of $20 million of trunk highway funds designated for new projects. In the past, the program has been supplemented with general obligation bonding authority through the Department of Employment and Economic Development (DEED). That contribution is determined by direct legislative action contained in the bonding bill, and in the 2014 session, no additional GO bonds were designated specifically for the TED program. DEED does have a small amount of bonding authority through its Business Development Public Infrastructure (BDPI) program that could be channeled to support eligible TED projects, but no final decision on the use of those funds has been made.
The mix of available funding is important, since the $20 million in MnDOT trunk highway funds may only be spent on trunk highway eligible projects, which excludes all township, city, and county roads. For local projects to be eligible through the TED program, there must be some “non-trunk highway” funds in the pool such as the DEED BDPI funds.
When will the solicitation take place?
MnDOT and DEED are developing options for the timing of the TED program. Stay tuned to this website for any update once a final schedule is determined.
Will there be any significant change to the application process?
When it occurs, the TED solicitation and project selection process will remain substantially the same. While everything is considered, the two most important criteria will remain:
- does the proposed improvement support economic activity by attracting and retaining jobs?
- does the improvement have a reasonable level of financial support from those directly benefiting, including both private and public partners?
Will there be any new features?
One addition to the process that we are currently developing is a form that documents the project’s progress during development and construction, and also specific performance indicators once the project is complete. A legislative requirement was enacted in 2013 that TED program managers would report on the status of the program in February of 2015, and every subsequent odd-numbered year.