A grant and loan program that provides funding for projects that either:
Are Federally Authorized and have received funding from the US Army Corps of Engineers and need matching funds or,
Are Non-Federally Authorized but directly support or provide access to a federally-authorized navigation improvement project
Eligible applicants
Any port incorporated under ORS Chapter 777 or 778 may apply for funding. The 24 legally formed Port Districts are the only entities eligible for the Marine Navigation Improvement Fund.
Eligible projects
There are two types of eligible projects as described below:
Federally authorized
Projects that are designed and conducted by the U.S. Army Corps of Engineers. The federal government provides 75 percent of the funding; the state provides the 25 percent match through appropriations made by the Legislature.
Projects that are authorized by Congress
Project are large enough to have a positive national cost/benefit ratio
Project is sponsored by a Port
Project is listed in the Port's business or strategic plan
Non-Federally authorized
Projects that are smaller and cannot qualify for federal assistance. However, the proposed project must support a certain level of commercial or recreational activity in order to qualify for state funding.
Project meets the criteria of a freight project or a commercial/recreation project
Project is a new water project that directly supports, or provides access to, a federally authorized navigation improvement project or a federally authorized navigation channel
Project is ready to begin in the biennium for which funding is requested
Project is listed in a Port's business or strategic plan
Note: Proposed new navigation facilities don't have an operating history and thus can't meet the criteria of a freight project. However, the project can still qualify if the project is reasonably forecasted to meet the criteria of a freight project within the first two years of operation and usage is forecasted to exceed the minimum criteria thereafter.
Funding
Funding for both types of projects is limited to funds appropriated by the Oregon Legislative Assembly. In 2003, the Oregon Legislative Assembly approved $3.5 million in funding for non-federally authorized projects.
Non-federally authorized projects can be funded with
all loan, if the port can support that level of debt from its general fund
up to 75 percent state grant for projects with a record of activity that meets the minimum criteria
up to 50 percent state grant for new water projects that are anticipated to meet the minimum criteria within a couple of years of completion
When a local match is required, it may be in the form of cash or a combination of cash and in-kind services. If both cash and in-kind services are used for the required match, the in-kind services may not be more than 10 percent of the total project cost.
Port must secure and be able to provide upon request a land use compatibility statement from the appropriate jurisdiction(s) in which the project is located.
Low interests loans
Interest rates will be determined during hte financial review. Loan term will not exceed 25 years.
Grants
After September 1, 2004, grants became available for projects that meet one or more of the following criteria:
Job creation and/or retention will be a direct result for the project
Project deals with critical public safety issues and the department's financial analysis determines that the Port's borrowing capacity is insufficient to finance the project; or
There is an imminent threat that the Port will lose permits and the department's financial analysis determines that the Port's borrowing capacity is insufficient to finance the project.
