Oklahoma Public Transit Revolving Fund
Section 4031 of Title 69 of the Oklahoma Statutes created a revolving fund for the Oklahoma Department of Transportation (ODOT) designated as the "Public Transit Revolving Fund." All monies accruing to the credit of this Fund will be expended by ODOT for the purpose of establishing, expanding, improving and maintaining rural and urban public transportation services.
Monies allocatedfrom the Public Transit Revolving Fund may be used for local share or matching funds for the purpose of federal capital or operating grants.Any eligible entity receiving monies from the Public Transit Revolving Fund must expend a minimum of fifty percent (50%) of the monies for services for the elderly and handicapped.
Who Can Apply?
Eligible entities are those entitiesreceivingfederal financial assistance pursuant to 49U.S.C., Sections 1607aand 1614, and other public mass transit programs provided by entities, municipalities, and community action programs.
Eligible entities must apply through the Office of Mobility & Public Transit during an open application cycle.The Public Transit Revolving Fund application cycle opens on July 1 and closes on July 31of each calendar year.