GreenTRIP - Two Program Updates

Advisory: March 2, 2011

1.Interest On Borrowed Provincial Funding May Be Included As An Eligible Project Cost

For projects approved under GreenTRIP, it is intended that provincial cost-sharing funds will be provided to match actual progress of the project.

In situations where the provincial share of the GreenTRIP funding for an approved project is not able to be provided in a timely manner, the applicant may request departmental approval to borrow funds to account for the deferred provincial share.  Where the borrowing is approved, the interest on the borrowed funds may be included as an eligible project cost and reported on the annual SFE.  The maximum amount borrowed may not exceed the amount of the deferred provincial grant payments.

In the event that grant funds have been provided in advance of the actual project expenditures, the applicant will be required to invest the funds in an interest bearing account, or maintain a separate accounting equivalent to being invested in an interest bearing account, and to include the earned interest on the annual SFE.

It should be noted that the GreenTRIP program is limited to a total program budget of $2 billion and that eligible interest costs incurred under the program will need to be accommodated within the total program budget.

This policy change for eligible project costs applies only to GreenTRIP and not to any other municipal grant program administered by Alberta Transportation.

 

2. Reminder: Stand-Alone Transit Feasibility Studies And Operational Transit Service Reviews Are Not Eligible

As GreenTRIP is intended to provide funding for transit capital infrastructure projects, all transit operating and maintenance costs are not eligible under the program.  This includes stand-alone municipal transit feasibility studies and transit service operational reviews.

 

 

Note: The program guidelines have been updated and clarified to reflect these items.