Page:United States Statutes at Large Volume 108 Part 2.djvu/88

 108 STAT. 804 PUBLIC LAW 103-272—JULY 5, 1994 VATE INVESTMENT. —(1) Each grant or loan under subsection (a)(5) of this section shall require that a person making an agreement to occupy space in a facility pay a reasonable share of the costs of the facility through rental payments and other means. (2) Eligible costs for a project under subsection (a)(5) of this section— (A) include property acquisition, demolition of existing structures, site preparation, utilities, building foundations, walkways, open space, and a capital project for, and improving, equipment or a facility for an intermodal transfer facility or transportation mall; but A (B) do not include construction of a commercial revenueproducing facility or a part of a public facility not related to mass transportation. (g) LETTERS OF INTENT, FULL FINANCING GRANT AGREEMENTS, AND EARLY SYSTEMS WORK AGREEMENTS.—(1)(A) The Secretary of Transportation may issue a letter of intent to an applicant announcing an intention to obligate, for a project under this section, an amount from future available budget authority specified in law that is not more than the amount stipulated as the financial participation of the Secretary in the project. The amount shall be sufficient to complete at least an operable segment when a letter is issued for a fixed guideway project. Notification. (B) At least 30 days before issuing a letter under subparagraph (A) of this paragraph, the Secretary of Transportation shall notify in writing the Committee on Public Works and Transportation of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate of the proposed issuance of the letter. (C) The issuance of a letter is deemed not to be an obligation under sections 1108(c) and (d), 1501, and 1502(a) of title 31 or an administrative commitment. (D) An obligation or administrative commitment may be made only when amounts are appropriated. (2)(A) The Secretary of Transportation may make a full financing grant agreement with an applicant. The agreement shall— (i) establish the terms of participation by the United States Government in a project under this section; (ii) establish the maximum amount of Government financial assistance for the project; (iii) cover the period of time for completing the project, including a period extending beyond the period of an authorization; and (iv) make timely and efficient management of the project easier according to the law of the United States. (B) An agreement under this paragraph obligates an amount of available budget authority specified in law and may include a commitment, contingent on amounts to be specified in law in advance for commitments under this paragraph, to obligate an additional amount from future available budget authority specified in law. The agreement shall state that the contingent commitment is not an obligation of the Government. Interest and other financing costs of efficiently carrying out a part of the project within a reasonable time are a cost of carrying out the project under a full financing grant agreement, except that eligible costs may not be more than the cost of the most favorable financing terms reasonably available for the project at the time of borrowing. The applicant

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