Memorandum Of Agreement Among United States Department Of Transportation, Commonwealth Of Virginia, Fairfax County, Loudoun County, The Washington Metropolitan Area Transit Authority, And The Metropolitan Washington Airports Authority Page 16
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16MEMORANDUM OF AGREEMENT BETWEEN US DOT, VIRGINIA, FAIRFAX,
LOUDOUN, WMATA, AND MWAA
portion of any unused credit subsidy that would have supported that portion of
the cost of the Loudoun Facilities.
6. Provision will be made in any application by Loudoun, individually or jointly, for
possible revisions of the application, prior to any loan distribution to Loudoun.
Under these possible revisions, after securing Additional Funding Sources that
would be pledged to support a TIFIA loan to fund all or a portion of the cost of the
Loudoun Facilities (such as parking revenues and potentially other pledged
revenues), Loudoun, were it to decide to do so, may bring some form of credit
enhancement to that TIFIA application. The application will provide that US DOT
should consider such a revision to the application only if it can be demonstrated
that the creditworthiness of the Loudoun TIFIA loan is improved by the Loudoun
enhancement. Any such credit enhancement would be at Loudoun’s discretion,
and any action on such a revision to the joint application would be at US DOT’s
discretion. Were such a credit enhancement to be approved by US DOT and to
cause a reduction in the amount of credit subsidy that would be used by
Loudoun, then Fairfax, Loudoun and MWAA will request that US DOT consider
an application from MWAA that would utilize the portion of any unused credit
subsidy.
Page 16 of 14
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