RURAL PROJECT INITIATIVE (RPI)
LOW-COST LOANS FOR RURAL TRANSPORTATION PROJECTS
The NJ RPI capitalizes on Federal transportation resources available to rural communities. The purpose is to help these communities overcome challenges in financing critical transportation infrastructure projects by offering funding at subsidized rates. The NJ RPI provides significant savings for eligible surface transportation projects in defined rural areas.
The NJ RPI:
- Offers fixed interest rate long-term loans for up to 35 years.
- Lends 80% of the project’s eligible costs at approximately 50% of the U.S. Treasury Rate.
- Finances project soft costs including application, legal, and engineering fees.
DETAILED RURAL AREA MAPS
A rural area is defined as being located outside of an urbanized area of a population greater than 150,000 individuals as determined by the Bureau of Census. (White area of Maps)
