Major Project Financial Plan and Project Management Plan Requirements

General
A project with an estimated total cost of $500 million or more that utilizes federal financial assistance, or a project that utilizes TIFIA loan funds (regardless of the project’s estimated total cost) is considered a “Major Project”. An LG developing a Major Project is required to submit to the Secretary of Transportation a project management plan and an annual financial plan, including a phasing plan when applicable.
For projects that utilize federal financial assistance and have an estimated total cost of $100 million or more, but less than $500 million, an LG is required to prepare an annual financial plan that must be made available to the Secretary of Transportation for review upon request by the Secretary.
Federal Requirements
  1. 23 U.S.C. §106(h)
    - Requires that federally funded Major Projects include a project management plan and an annual financial plan, both of which must be submitted to the Secretary of Transportation.
  2. 23 U.S.C. §106(i)
    - Requires federally funded projects with an estimated total cost of $100 million or more, but less than $500 million, include an annual financial plan that must be made available to the Secretary of Transportation upon request.
State Requirements
  1. No comparable statute.
Required Practices
The LG must follow the requirements regarding federally funded Major Projects and projects in excess of $100 million. The matters that must be included in annual financial plans and project management plans are described in
Chapter 2 of the LGPM Guide
.