PPT Slide
Ports’ Shortfall Advances
Alameda Corridor Transportation Authority
The Use and Operating Agreement defines application of Shortfall Advances
- Shortfall Advances are capped at 40% of the amounts necessary to pay debt service on all Revenue Bonds and the DOT Loan
- ACTA must provide an estimate of Shortfall Advance requirements to each Port 90 days prior to the start of their respective fiscal years
- ACTA must provide updates to Ports during the year
- Each Port must budget for the Shortfall Advance and/or set aside surplus revenues
- Ports will amend budget during year, if necessary
- If balance remains on DOT Loan after Use Fees and Container Charges terminate:
- Loan balance reamortizes over 10 additional years at DOT Loan rate
- Shortfall Advances continue at 100% of Required Annual Payment
- If Ports demonstrate significant financial hardship, Shortfall Advances may be reduced by renegotiation of DOT Loan