72-2-117 - Transportation Corridor Preservation Revolving Loan Fund -- Distribution -- Repayment -- Rulemaking.
72-2-117. Transportation Corridor Preservation Revolving Loan Fund --Distribution -- Repayment -- Rulemaking.
(1) There is created the Transportation Corridor Preservation Revolving Loan Fundwithin the Transportation Fund.
(2) The fund shall be funded from the following sources:
(a) motor vehicle rental tax imposed under Section 59-12-1201;
(b) appropriations made to the fund by the Legislature;
(c) contributions from other public and private sources for deposit into the fund;
(d) interest earnings on cash balances;
(e) all monies collected for repayments and interest on fund monies;
(f) all monies collected from rents and sales of real property acquired with fund monies;and
(g) proceeds from general obligation bonds, revenue bonds, or other obligations asauthorized by Title 63B, Bonds.
(3) All monies appropriated to the Transportation Corridor Preservation Revolving LoanFund are nonlapsing.
(4) (a) The commission shall authorize the expenditure of fund monies to allow thedepartment to acquire real property or any interests in real property for state, county, andmunicipal transportation corridors subject to:
(i) monies available in the fund;
(ii) rules made under Subsection (7); and
(iii) Subsection (9).
(b) Fund monies may be used to pay interest on debts incurred in accordance with thissection.
(5) Administrative costs for transportation corridor preservation shall be paid from thefund.
(6) The department:
(a) may apply to the commission under this section for monies from the TransportationCorridor Preservation Revolving Loan Fund for a specified transportation corridor project,including for county and municipal projects; and
(b) shall repay the fund monies authorized for the project to the fund as required underSubsection (7).
(7) The commission shall:
(a) administer the Transportation Corridor Preservation Revolving Loan Fund to:
(i) preserve transportation corridors;
(ii) promote long-term statewide transportation planning;
(iii) save on acquisition costs; and
(iv) promote the best interests of the state in a manner which minimizes impact on primeagricultural land;
(b) prioritize fund monies based on considerations, including:
(i) areas with rapidly expanding population;
(ii) the willingness of local governments to complete studies and impact statements thatmeet department standards;
(iii) the preservation of corridors by the use of local planning and zoning processes;
(iv) the availability of other public and private matching funds for a project; and
(v) the cost-effectiveness of the preservation projects;
(c) designate high priority corridor preservation projects in cooperation with ametropolitan planning organization;
(d) administer the program for the purposes provided in this section;
(e) prioritize fund monies in accordance with this section; and
(f) make rules in accordance with Title 63G, Chapter 3, Utah Administrative RulemakingAct, establishing:
(i) the procedures for the awarding of fund monies;
(ii) the procedures for the department to apply for transportation corridor preservationmonies for projects; and
(iii) repayment conditions of the monies to the fund from the specified project funds.
(8) (a) The proceeds from any bonds or other obligations secured by revenues of theTransportation Corridor Preservation Revolving Loan Fund shall be used for:
(i) the acquisition of real property in hardship cases; and
(ii) any of the purposes authorized for funds in the Transportation Corridor PreservationRevolving Loan Fund under this section.
(b) The commission shall pledge the necessary part of the revenues of the TransportationCorridor Preservation Revolving Loan Fund to the payment of principal of and interest on thebonds or other obligations.
(9) (a) The department may not apply for monies under this section unless the highwayauthority has an access management policy or ordinance in effect that meets the requirementsunder Subsection (9)(b).
(b) The access management policy or ordinance shall:
(i) be for the purpose of balancing the need for reasonable access to land uses with theneed to preserve the smooth flow of traffic on the highway system in terms of safety, capacity,and speed; and
(ii) include provisions:
(A) limiting the number of conflict points at driveway locations;
(B) separating conflict areas;
(C) reducing the interference of through traffic;
(D) spacing at-grade signalized intersections; and
(E) providing for adequate on-site circulation and storage.
(c) The department shall develop a model access management policy or ordinance thatmeets the requirements of this Subsection (9) for the benefit of a county or municipality underthis section.
(10) (a) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act,the commission shall make rules establishing a corridor preservation advisory council.
(b) The corridor preservation advisory council shall:
(i) assist with and help coordinate the corridor preservation efforts of the department andlocal governments;
(ii) provide recommendations and priorities concerning corridor preservation and the useof fund monies to the department and to the commission; and
(iii) include members designated by each metropolitan planning organization in the stateto represent local governments that are involved with corridor preservation through official mapsand planning.
Amended by Chapter 382, 2008 General Session