Program to Aid Communities with Jumpstart Funding for Transportation Projects
The Mid-Ohio Regional Planning Commission (MORPC) has launched the Central Ohio Advance Fund, a $5 million initiative providing seed funding to help local governments overcome cash flow barriers for transportation infrastructure projects.
The revolving fund, approved by the MORPC governing board on Thursday, allows communities to initiate projects while awaiting local, state or federal reimbursements, with individual advances typically limited to $2 million. Projects awarded funds from The Advance Fund are expected to return funds to the program once their reimbursements are received.
“Timing is everything when it comes to delivering infrastructure improvements whether trails and sidewalks or major road connectors. The Advance Fund establishes a powerful, revolving resource that eliminates the funding delays that so often stall local initiatives. This fund ensures our communities can confidently advance vital projects today, secure in the knowledge that their cash flow is protected until state and federal dollars arrive."
Eligible entities for the fund include counties, cities, villages and townships within the MORPC Metropolitan Planning Organization boundary, MORPC member governments outside of the MPO boundary and transportation improvement districts in counties that are MORPC members.
For more information on The Advance Fund, please visit: The Central Ohio Advance Fund – MORPC.org.
