CHICAGO — Municipal borrowers looking to expedite the process to tap the Transportation Infrastructure Finance and Innovation Act program for project loans should bring a thorough financing package to the table and be flexible in negotiating terms, loan recipients advised Thursday.

The TIFIA program provides assistance for surface transportation projects in the form of loans, loan guarantees and standby lines of credit. The 1998 program was expanded from $122 million in annual funding and reformed under the Moving Ahead for Progress in the 21st Century (MAP-21) transportation bill that was signed into law in July 2012.

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