Transporation Economic Development (TED) Eligibility
Eligible applicants must be governmental entities as defined by state law. Although private entities are not currently eligible for TED financing, they may enter into agreements with eligible borrowers to request funding for eligible public transportation projects.
For a project to be eligible, it must support one or more of the following industries: manufacturing, technology, warehousing and distribution, research and development, agricultural processing, bioscience, or tourism/recreation. Projects that support industrial park development or mixed-use or high-density multimodal development are also eligible for the program.
The maximum amount of funding that any project may receive is $10 million.
The matching funds offered by the local applicant may come from other federal, state, local and private funding sources. Private funding sources are the most beneficial to a proposal.
Projects will be selected on the basis of evaluation criteria in four broad categories: 1) transportation impact; 2) statewide economic impact; 3) project financial plan; and 4) project readiness.
The program makes every effort to award funds equally to Greater Minnesota and the seven-county Twin Cities metropolitan area. Due to project sizes, however, the split may not be exactly 50-50.