[Federal Register Volume 86, Number 56 (Thursday, March 25, 2021)]
[Notices]
[Pages 15974-15978]
[FR Doc No: 2021-06127]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91377; File No. SR-NYSE-2021-08]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change of New Rules Providing for the
Registration and Obligations of Non-DMM Market Makers

March 19, 2021.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on March 12, 2021, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been prepared by the self-
regulatory organization. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes new rules providing for the registration and
obligations of Non-DMM Market Makers. The proposed rule change is
available on the Exchange's website at www.nyse.com, at the principal
office of the Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes rules governing electronic, off-floor market
makers that would not be either Designated Market Makers (``DMMs'') or
Supplemental Liquidity Providers (``SLPs'') (``Non-DMM Market
Makers''). Non-DMM Market Makers would be a new category of market
participants on the Exchange and would have responsibilities different
from those of DMMs and SLPs. The proposed Non-DMM Market Makers are not
intended to replace DMMs or SLPs on the Exchange and would not assume
any of the responsibilities already assigned to DMMs or SLPs pursuant
to Exchange Rules (for example, Non-DMM Market Makers would not perform
any trading floor functions such as those assigned to DMMs). Instead,
for all securities that trade on the Exchange, a member organization
may register as a Non-DMM Market Maker and be subject to obligations
similar to those of Market Makers on NYSE Arca, Inc. (``NYSE Arca'')
and NYSE American LLC (``NYSE American'') to, among other things,
maintain continuous, two-sided trading interest in the securities in
which they are registered as a Non-DMM Market Maker (``Two-Sided
Obligation'') and adhere to certain pricing obligations. The addition
of Non-DMM Market Makers is intended to promote competition on the
Exchange by providing an opportunity for member organizations to
register as a Non-DMM Market Maker and become eligible for various
benefits and economic incentives available to registered market makers.
Non-DMM Market Makers would be subject to obligations distinct from
those imposed on DMMs and SLPs under Exchange rules but would likewise
contribute to displayed liquidity on the Exchange and would enhance the
range and diversity of market making activity on the Exchange, thereby
promoting competition and market quality on the Exchange to the benefit
of all market participants.
    The Exchange proposes the following rules, based on NYSE Arca and
NYSE American rules of the same number with non-substantive changes, to
govern the registration and obligations of Non-DMM Market Makers on the
NYSE:
     Proposed Rule 1.1(p) (definition of Market Maker
Authorized Trader);
     Proposed Rule 1.1(t) (definition of Non-DMM Market Maker);
     Proposed Rule 7.20 (Registration of Non-DMM Market
Makers);
     Proposed Rule 7.21 (Obligations of Market Maker Authorized
Traders);
     Proposed Rule 7.22 (Registration of Non-DMM Market Makers
in a Security); and
     Proposed Rule 7.23 (Obligations of Non-DMM Market Makers).
    These proposed rules would be applicable only to the proposed new
category of Non-DMM Market Makers. They would not apply to DMMs or
SLPs, who would continue to be governed by existing Exchange rules
applicable to those market participants.\4\
---------------------------------------------------------------------------

    \4\ See, e.g., Rules 98, 103, 103B, 104, and 107B.
---------------------------------------------------------------------------

Proposed Rule Changes
Rule 1.1
    Rule 1.1 sets forth definitions of terms that are used throughout
the Exchange rules. The Exchange proposes to add the following
definitions to the rule:
     The Exchange proposes to amend current Rule 1.1(p) to set
forth the definition of ``Market Maker Authorized Trader'' or ``MMAT.''
A ``Market Maker Authorized Trade'' or ``MMAT'' would be defined as an
Authorized Trader (as defined in Rule 1.1(a)) who performs market
making activities pursuant to Rule 7P on behalf of a Non-DMM Market
Maker. This proposed rule is based on NYSE Arca Rule 1.1(aa) and NYSE
American Rule 1.1E(w).
     The Exchange proposes to amend current Rule 1.1(t) to set
forth the definition of ``Non-DMM Market Maker.'' A ``Non-DMM Market
Maker'' would be defined as a member organization that acts as a Non-
DMM Market Maker pursuant to Rule 7P. Accordingly, for purposes of
Exchange rules, the term ``Non-DMM Market Maker'' does not include DMMs
or SLPs. This proposed rule is based on NYSE Arca Rule 1.1(z) and NYSE
American Rule 1.1E(v).
    To accommodate the addition of these definitions, the Exchange also
proposes to adjust the lettering in Rule 1.1. Specifically, current
Rule 1.1(p) defining the term ``Marketable'' would become Rule 1.1(q),
current Rule 1.1(q) defining ``NBBO, Best Protected Bid, Best Protected
Offer, Protected Best Bid and Offer (PBBO)'' would become Rule 1.1(r),
and so forth, with no changes to the substance of the definitions.
Rule 7P, Section 2
    The Exchange proposes to amend Section 2 under Rule 7P, which is
currently designated as ``Reserved,'' and rename it ``Non-DMM Market
Makers.'' The Exchange proposes that the rules set forth in this
section would apply only to the proposed new group of Non-

DMM Market Makers and would not be applicable to DMMs or SLPs.
Rule 7.20
    The Exchange proposes to add Rule 7.20 and title it ``Registration
of Non-DMM Market Makers.'' Proposed Rule 7.20 would set forth the
requirements for member organizations to apply for registration as Non-
DMM Market Makers. The Exchange proposes that its Non-DMM Market Makers
have the same registration requirements as Market Makers on NYSE Arca
and NYSE American. Accordingly, the Exchange's proposal is based on
NYSE Arca Rule 7.20-E and NYSE American Rule 7.20E without substantive
differences. Consistent with the requirements set forth in the NYSE
Arca and NYSE American rules, the Exchange proposes to require member
organizations interested in acting as Non-DMM Market Makers to submit
an application to the Exchange. Proposed Rule 7.20 would also set forth
the criteria the Exchange may consider in determining whether to
approve or disapprove a prospective Non-DMM Market Maker's application
and specify how a Non-DMM Market Maker's registration may be suspended,
terminated, or withdrawn.
    The Exchange notes two non-substantive differences from the NYSE
Arca rules relating to the references to the Exchange's disciplinary
rules. First, in proposed Rule 7.20(c), the Exchange proposes to refer
to the process described in the NYSE Rule 9500 Series instead of NYSE
Arca Rule 10.14. Second, in proposed Rule 7.20(e), the Exchange
proposes to refer to the process set forth in the NYSE Rule 9200 Series
instead of NYSE Arca Rule 10.0 and the NYSE Arca Rule 10.9000 Series.
Rule 7.21
    The Exchange proposes to add Rule 7.21 and title it ``Obligations
of Market Maker Authorized Traders.'' Proposed Rule 7.21 would provide
that Market Maker Authorized Traders (``MMATs'') are permitted to enter
orders only for the account of the Non-DMM Market Maker for which they
are registered. In addition, the proposed rule would specify the
registration requirements for MMATs and the procedures for suspension
and withdrawal of registration of MMATs, both of which the Exchange
proposes to base on the NYSE Arca and NYSE American rules pertaining to
the obligations of MMATs. Specifically, the proposed rule would provide
that a Non-DMM Market Maker must submit an application to the Exchange
to register an associated person as an MMAT. An MMAT must meet certain
requirements, and a Non-DMM Market Maker must ensure that its MMATs are
qualified to perform market making activities. Proposed Rule 7.21 also
provides that the Exchange may suspend or withdraw an MMAT's
registration. Accordingly, this proposed rule is based on NYSE Arca
Rule 7.21-E and NYSE American Rule 7.21E without any substantive
differences.
Rule 7.22
    The Exchange proposes to add Rule 7.22 and title it ``Registration
of Non-DMM Market Makers in a Security.'' Proposed Rule 7.22 would set
forth the process for Non-DMM Market Makers to become registered in a
security and the factors the Exchange may consider in approving such
registration. The Exchange proposes that the registration of Non-DMM
Market Makers follow the same process as is in place for Market Makers
on NYSE Arca and NYSE American. Specifically, Non-DMM Market Makers may
submit a request to the Exchange to be registered in a security, and
the Exchange will evaluate whether to approve such registration, taking
into consideration factors including the Non-DMM Market Maker's
financial resources, experience in making markets, operational
capability, and the character of the market for the security. Non-DMM
Market Makers will generally be permitted to register in securities in
which a DMM and/or SLP is also registered, subject to the Exchange's
evaluation of the character of the market for a given security.\5\
---------------------------------------------------------------------------

    \5\ Orders entered by Non-DMM Market Makers will be allocated in
accordance with Rules 7.36 and 7.37 and be treated as a Book
Participant. Non-DMM Market Makers will not be eligible to
participate in the allocation process as a DMM Participant.
---------------------------------------------------------------------------

    Also consistent with the rules of NYSE Arca and NYSE American, the
proposed rule would also describe both termination of a Non-DMM Market
Maker's registration in a security by the Exchange and voluntary
termination by a Non-DMM Market Maker. Accordingly, the Exchange's
proposal is based on NYSE American Rule 7.20E without substantive
differences and is also substantially based on NYSE Arca Rule 7.22-E
with certain exceptions.
    The Exchange does not propose to adopt NYSE Arca Rule 7.22-E(c) or
7.22-E(d), which pertain to DMMs, because the Exchange has a separate
set of rules governing DMMs. The Exchange also proposes to adopt a
version of the rule with the non-substantive difference of replacing
references to NYSE Arca Equities Rule 10 and 10.13 with references to
the NYSE Rule 9200 and Rule 9500 Series, respectively.
Rule 7.23
    The Exchange proposes to add Rule 7.23 and title it ``Obligations
of Non-DMM Market Makers.'' Proposed Rule 7.23 would set forth the
obligation of Non-DMM Market Makers to engage in a course of dealings
for their own account to assist in the maintenance, insofar as
reasonably practicable, of fair and orderly markets on the Exchange.
The proposed rule would delineate the specific responsibilities and
duties of Non-DMM Market Makers, including the Two-Sided Obligation
applicable to securities in which the Non-DMM Market Maker is
registered and the requirement that the interest satisfying the Two-
Sided Obligation be not more than the Designated Percentage (as defined
in Proposed Rule 7.23) away from the National Best Bid or Offer
(``NBBO''). Proposed Rule 7.23 also provides that Non-DMM Market Makers
will be subject to certain minimum capital requirements and sets forth
the circumstances under which a Non-DMM Market Maker could be subject
to disciplinary action or suspension or revocation of registration by
the Exchange for failure to comply with the course of dealings
obligations set forth in this proposed rule.
    Specifically, with respect to the Two-Sided Obligation, proposed
Rule 7.23(a)(1)(A) provides that Non-DMM Market Makers would be
required to maintain displayed interest identified as interest meeting
the Two-Sided Obligation on a continuous basis during Core Trading
Hours for those securities in which the Non-DMM Market Maker is
registered. Proposed Rule 7.23(a)(1)(B) provides that interest
satisfying a Non-DMM Market Maker's Two-Sided Obligation must not be
more than the Designated Percentage away from the then current NBBO, or
if there is no NBBO, not more than the Designated Percentage away from
the last reported sale for that security. With respect to minimum
capital requirements, proposed Rule 7.23(a)(2) provides that Non-DMM
Market Makers would be required to maintain adequate minimum capital in
accordance with Rule 15c3-1 under the Act.
    As proposed, Non-DMM Market Makers would occupy a role distinct
from DMMs and SLPs and, accordingly, would be subject to different
obligations. For example, Non-DMM Market Makers would differ from DMMs
in that they would be subject to pricing obligations and financial
requirements less stringent than those set forth in Rules 103, 103B,
and 104 for DMMs.

Whereas Non-DMM Market Makers would be required to maintain a Two-Sided
Obligation as outlined above, DMMs must maintain a bid or offer at the
NBBO for a certain percentage of the trading day for the securities in
which they are registered, as specified in Rule 104(a)(1)(A). In
addition, in order to participate in the allocation process for a
specified security, DMMs must meet various quoting requirements set
forth in Rule 103B.II, such as requirements to maintain a bid or offer
at the NBBO for a specified percentage of time during a calendar month.
With respect to financial requirements, whereas Non-DMM Market Makers
are required to adhere to Rule 15c3-1 of the Act, Rule 103
Supplementary Material .20 sets forth additional requirements
pertaining to a DMM's Net Liquid Assets, including minimum Net Liquid
Assets and specifications relating to the portion of a DMM's Net Liquid
Assets that may be derived from Excess Net Capital.
    Non-DMM Market Makers would also be different from SLPs because,
among other reasons, they would not be subject to the heightened
quoting requirements or monthly volume requirements applicable to SLPs
pursuant to Rule 107B. For example, SLPs are required to maintain a bid
or an offer at the NBBO in each of their assigned securities averaging
at least 10% of the trading day as specified in Rules 107B(a) and (g).
SLPs are also required, as described in Rules 107B(a) and (h), to add
liquidity at a certain average daily volume in their assigned
securities on a monthly basis.
    Proposed Rule 7.23 is consistent with the obligations and processes
for Market Makers set forth in the rules of NYSE Arca and NYSE
American, and accordingly, is based on NYSE Arca Rule 7.23-E and NYSE
American Rule 7.23E without any substantive differences.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934,\6\ in general, and furthers the
objectives of Section 6(b)(5),\7\ in particular, because it is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, to remove impediments to, and perfect the mechanism of, a
free and open market and a national market system and, in general, to
protect investors and the public interest. The Exchange believes that
the proposed rules would remove impediments to and perfect the
mechanism of a free and open market because they propose rules
governing Non-DMM Market Makers that are based on the rules governing
Market Makers on the Exchange's affiliated markets, NYSE Arca and NYSE
American. The proposed rule change would therefore remove impediments
to and perfect the mechanism of a free and open market and a national
market system by promoting continuity across affiliated exchanges,
enabling market makers on the Exchange's affiliated markets to also
become Non-DMM Market Makers on the Exchange by meeting the same
registration requirements and by agreeing to be subject to the same
obligations. The proposed rule change also removes impediments to and
perfects the mechanism of a free and open market and a national market
system by providing the Exchange's member organizations with the
opportunity to access the benefits available to registered market
makers (such as certain exemptions under Regulation SHO),\8\ without
committing to the more stringent quoting or volume requirements that
apply to DMMs and SLPs. The Exchange also believes that providing for a
Non-DMM Market Maker role on the NYSE would allow member organizations
that are market makers on other exchanges to leverage their existing
market-making strategies on the Exchange, and provide all member
organizations who choose to register as Non-DMM Market Makers with
enhanced opportunities to qualify for various existing credits set
forth in the Exchange's Price List through increased quoting and
liquidity-providing activity.\9\ The proposed rules are also intended
to serve investor protection and public interest goals by providing for
a new category of market participant that will contribute to displayed
liquidity, price discovery, and market quality on the Exchange. The
proposed Non-DMM Market Makers are not intended to supplant the
existing DMM or SLP market participants or their roles on the Exchange
and would represent an additional source of displayed liquidity on the
Exchange and enhance the range and diversity of market making activity
on the Exchange, thereby promoting competition and market quality on
the Exchange to the benefit of all market participants.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
    \8\ See, e.g., 17 CFR 242.203(b)(2)(iii) and 17 CFR
242.204(a)(3).
    \9\ To the extent Non-DMM Market Makers would be eligible for
pricing relating to their role as Non-DMM Market Makers (similar to
pricing currently set forth in the Exchange's Price List with
respect to DMMs and SLPs), the Exchange would address such pricing
in a separate proposed rule change.
---------------------------------------------------------------------------

    Specifically, the Exchange believes that the proposed definitions
of Non-DMM Market Maker and Market Maker Authorized Trader in Rule 1.1
would remove impediments to and perfect the mechanism of a free and
open market and a national market system by clearly setting forth the
definitions of Non-DMM Market Maker and Market Maker Authorized Trader
as those terms would be used in the additional rules proposed by the
Exchange, particularly since the proposed definitions are based on
rules of the Exchange's affiliates that have been approved by the
Commission and would promote consistency across affiliated exchanges.
The Exchange believes that defining the term ``Non-DMM Market Maker''
to mean a member organization that is not a DMM or SLP would also
promote transparency and clarity in Exchange rules that the capitalized
term of ``Non-DMM Market Maker'' would not also mean DMMs or SLPs.
    The Exchange also believes that proposed Rules 7.20 and 7.21, which
provide for the registration of Non-DMM Market Makers and Market Maker
Authorized Traders, would remove impediments to and perfect the
mechanism of a free and open market and a national market system
because they clearly set forth the requirements and process for a
member organization to register as a Non-DMM Market Maker or Market
Maker Authorized Trader on the Exchange. The proposed rule change would
also promote just and equitable principles of trade by implementing the
same registration process and requirements, for the same category of
market participants, as on affiliated exchanges, which requirements
have already been approved by the Commission. Proposed Rules 7.20 and
7.21 would also protect investors and the public interest by ensuring
that Non-DMM Market Makers and Market Maker Authorized Traders are
subject to uniform, objective requirements relating to their ability to
contribute to the maintenance of fair and orderly markets on the
Exchange and that their registration may be suspended or withdrawn
should they fail to meet those requirements.
    The Exchange believes that proposed Rule 7.22, providing for the
registration of a Non-DMM Market Maker in a security, would similarly
remove impediments to and perfect the mechanism of a free and open
market and a national market system because it would specify the
requirements and process for Non-DMM Market Makers to register to trade
a specific security on

the Exchange. Proposed Rule 7.22 sets forth a process based on the
rules of NYSE Arca and NYSE American governing the registration of a
Non-DMM Market Maker in a security, and therefore would promote just
and equitable principles of trade by specifying requirements that are
based on the approved rules of other exchanges. The Exchange further
believes that proposed Rule 7.22 would serve investor protection and
public interest goals by enumerating the factors that the Exchange may
consider in approving a Non-DMM Market Maker's request to register in a
security, which take into account the Non-DMM Market Maker's ability to
meet its obligations and promote market quality on the Exchange.
    The Exchange believes that proposed Rule 7.23, setting forth the
obligations and duties of Non-DMM Market Makers, would remove
impediments to and perfect the mechanism of a free and open market and
a national market system because it would establish rules governing
trading on the Exchange that are consistent with the rules currently in
place on NYSE Arca and NYSE American regarding the duties and
obligations of Market Makers on those exchanges, which have been
previously approved by the Commission. As a result, the proposal
promotes uniformity and consistency among affiliated exchanges' rules
pertaining to market makers who are not DMMs or SLPs. For similar
reasons, the Exchange believes that proposed Rule 7.23 is also designed
to prevent fraudulent and manipulative acts and practices and to
promote just and equitable principles of trade by establishing
regulatory requirements for Non-DMM Market Makers that would enhance
the quality of its market and support investor protection and public
interest goals. Specifically, proposed Rule 7.23 specifies the
obligations of a Non-DMM Market Maker to, among other things, maintain
a Two-Sided Obligation and meet certain pricing specifications, thereby
promoting additional displayed liquidity and facilitating price
discovery on the Exchange. The proposed rule change would also remove
impediments to and perfect the mechanism of a free and open market and
a national market system by providing a new opportunity for member
organizations to leverage their trading activity and access the
benefits and economic incentives available to registered market makers
by meeting obligations less stringent than those required of DMMs and
SLPs, and in turn enhancing competition on the Exchange for the benefit
of all market participants.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change
sets forth rules governing Non-DMM Market Makers on the Exchange and is
based on NYSE Arca and NYSE American rules that have been approved by
the Commission. The Exchange believes that the proposed rules would
promote competition because they would provide for obligations relating
to Non-DMM Market Makers that are based on established rules, thereby
reducing any potential barriers to entry for market makers registered
on other exchanges to be approved as a Non-DMM Market Maker on the
Exchange. The Exchange further believes that the proposed rules would
not impose any burden on competition that is not necessary or
appropriate because they are designed to provide its members with
consistency across affiliated exchanges, thereby enabling the Exchange
to compete with unaffiliated exchange competitors that similarly
operate multiple exchanges on the same trading platforms. The Exchange
also believes that the proposed rule change would promote competition
by providing member organizations that are registered as market makers
on other exchanges with the opportunity to similarly register as a Non-
DMM Market Maker on the Exchange without being subject to the more
stringent quoting or volume requirements associated with being a DMM or
SLP. By registering as a Non-DMM Market Maker on the Exchange, such
member organizations may be able to deploy their existing market-making
strategies on the Exchange and may more easily qualify for credits
offered by the Exchange based on the increased quoting and liquidity-
providing activity required of them as Non-DMM Market Makers. The
Exchange therefore believes that the proposed rule change would promote
competition by encouraging additional displayed liquidity, facilitating
price discovery, and increasing the range and diversity of market
making activity on the Exchange. Finally, the Exchange does not believe
that the proposed rules would impose any burden on intra-market
competition because adding a new market participant of ``Non-DMM Market
Maker'' would allow all member organizations an opportunity to access
the benefits available to registered market makers, subject to the same
requirements and obligations as market makers on other exchanges.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Within 45 days of the date of publication of this notice in the
Federal Register or up to 90 days (i) as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or (ii) as to which the self-regulatory
organization consents, the Commission will:
    (A) By order approve or disapprove the proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2021-08 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2021-08. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the

Commission and any person, other than those that may be withheld from
the public in accordance with the provisions of 5 U.S.C. 552, will be
available for website viewing and printing in the Commission's Public
Reference Room, 100 F Street NE, Washington, DC 20549 on official
business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of
the filing also will be available for inspection and copying at the
principal office of the Exchange. All comments received will be posted
without change. Persons submitting comments are cautioned that we do
not redact or edit personal identifying information from comment
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
NYSE-2021-08, and should be submitted on or before April 15, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2021-06127 Filed 3-24-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 38 (Friday, February 26, 2016)]
[Notices]
[Pages 9935-9944]
[FR Doc No: 2016-04217]

-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Office of the Secretary of Transportation

Notice of Funding Opportunity for the Department of
Transportation's National Infrastructure Investments Under the
Consolidated Appropriations Act, 2016

AGENCY: Office of the Secretary of Transportation, DOT.

ACTION: Notice of funding opportunity.

-----------------------------------------------------------------------

SUMMARY: The Consolidated Appropriations Act, 2016 (Pub. L. 114-113,
December 18, 2015) (``FY 2016 Appropriations Act'' or the ``Act'')
appropriated $500 million to be awarded by the Department of
Transportation (``DOT'' or the ``Department'') for National
Infrastructure Investments. This appropriation is similar, but not
identical, to the program funded and implemented pursuant to the
American Recovery and Reinvestment Act of 2009 (the ``Recovery Act'')
known as the Transportation Investment Generating Economic Recovery, or
``TIGER Discretionary Grants,'' program. Because of the similarity in
program structure, DOT will continue to refer to the program as ``TIGER
Discretionary Grants.'' Funds for the FY 2016 TIGER program (``TIGER FY
2016'') are to be awarded on a competitive basis for projects that will
have a significant impact on the Nation, a metropolitan area, or a
region. The purpose of this final notice is to solicit applications for
TIGER Discretionary Grants.

DATES: Applications must be submitted by 8:00 p.m. EDT on April 29,
2016.

ADDRESSES: Applications must be submitted through Grants.gov.

FOR FURTHER INFORMATION CONTACT: For further information concerning
this notice, please contact the TIGER Discretionary Grants program
staff via email at<EMAIL_ADDRESS>or call Howard Hill at 202-366-
0301. A TDD is available for individuals who are deaf or hard of
hearing at<PHONE_NUMBER>. In addition, DOT will regularly post answers
to questions and requests for clarifications as well as information
about webinars for further guidance on DOT's Web site at
www.transportation.gov/TIGER.

SUPPLEMENTARY INFORMATION: This notice is substantially similar to the
final notice published for the TIGER Discretionary Grants program in
the Federal Register on April 3, 2015 (80 FR 18283) for fiscal year
2015 funds. However, unlike that round of TIGER Discretionary Grants,
this year a pre-application is not required to enhance efficiency of
review. In addition, this round of TIGER Discretionary Grants reduces
the minimum grant to $5 million from $10 million for urban areas and
maximum grant to $100 million from $200 million, as specified in the FY
2016 Appropriations Act. Additionally, the FY 2016 Appropriations Act
extends the amount of time that 2016 TIGER funds are available for
obligation by one additional year, to expire September 30, 2019. Each
section of this notice contains information and instructions relevant
to the application process for these TIGER Discretionary Grants, and
all applicants should read this notice in its entirety so that they
have the information they need to submit eligible and competitive
applications.

Table of Contents

A. Program Description
B. Federal Award Information
C. Eligibility Information
D. Application and Submission Information
E. Application Review Information
F. Federal Award Administration Information
G. Federal Awarding Agency Contacts
H. Other Information

A. Program Description

    Since the TIGER Discretionary Grants program was first created,
$4.6 billion has been awarded for capital investments in surface
transportation infrastructure over seven rounds of competitive grants.
The TIGER Discretionary Grants program seeks to award projects that
advance DOT's strategic goals for the nation's transportation system
found in DOT's Strategic Plan for FY 2014-FY 2018 (https://www.transportation.gov/policy-initiatives/draft-dot-strategic-plan-fy-2014-2018). Section E, Application Review Information, of this notice
describes the TIGER Discretionary Grants selection criteria based on
these goals. Please see DOT's Web site at www.transportation.gov/TIGER
for background on previous rounds of TIGER Discretionary Grants.
    Throughout the TIGER program, TIGER Discretionary Grants awards
have supported innovative projects, including multimodal and

multijurisdictional projects which are difficult to fund through
traditional Federal programs. Successful TIGER projects leverage
resources, encourage partnership, catalyze investment and growth, fill
a critical void in the transportation system or provide a substantial
benefit to the nation, region or metropolitan area in which the project
is located. The FY 2016 TIGER program will continue to make
transformative surface transportation investments that dramatically
improve the status quo by providing significant and measurable
improvements over existing conditions. Transformative improvements
anchor broad and long-lasting, positive changes in economic
development, safety, quality of life, environmental sustainability, or
state of good repair. Because each TIGER project is unique, applicants
are encouraged to present, in measurable terms, how TIGER investment
will lead to transformative change(s) in their community.
    The FY 2016 TIGER program will fund transformative projects of all
eligible types, including projects that promote Ladders of Opportunity,
to the extent permitted by law. The FY 2014 TIGER and FY 2015 TIGER
programs gave consideration to projects that sought to improve access
to reliable, safe, and affordable transportation for disconnected
communities in urban, suburban, and rural areas. This included, but was
not limited to, capital projects that better connected people to jobs,
removed physical barriers to access, and strengthened communities
through neighborhood redevelopment. The FY 2015 and 2016 TIGER programs
clearly identify this concept as Ladders of Opportunity. Ladders of
Opportunity projects may increase connectivity to employment,
education, services and other opportunities; support workforce
development; or contribute to community revitalization, particularly
for disadvantaged groups: Low income groups, persons with visible and
hidden disabilities, elderly individuals, and minority persons and
populations.

B. Federal Award Information

    The FY 2016 Appropriations Act appropriated $500 million to be
awarded by DOT for the TIGER Discretionary Grants program. The FY 2016
TIGER Discretionary Grants are for capital investments in surface
transportation infrastructure and are to be awarded on a competitive
basis for projects that will have a significant impact on the Nation, a
metropolitan area, or a region. The Act also allows DOT to use a small
portion of the $500 million for oversight and administration of grants
and credit assistance made under the TIGER Discretionary Grants
program. If this solicitation does not result in the award and
obligation of all available funds, DOT may publish additional
solicitations.
    The FY 2016 Appropriations Act specifies that TIGER Discretionary
Grants may not be less than $5 million and not greater than $100
million, except that for projects located in rural areas (as defined in
Section C.3) the minimum TIGER Discretionary Grant size is $1 million.
    Pursuant to the FY 2016 Appropriations Act, no more than 20 percent
of the funds made available for TIGER Discretionary Grants (or $100
million) may be awarded to projects in a single State. The Act also
directs that not less than 20 percent of the funds provided for TIGER
Discretionary Grants (or $100 million) shall be used for projects
located in rural areas. Further, DOT must take measures to ensure an
equitable geographic distribution of grant funds, an appropriate
balance in addressing the needs of urban and rural areas, and
investment in a variety of transportation modes.
    The FY 2016 Appropriations Act requires that FY 2016 TIGER funds
are only available for obligation through September 30, 2019.
Obligation occurs when a selected applicant and DOT enter into a
written grant agreement and is generally after the applicant has
satisfied applicable administrative requirements, including
transportation planning and environmental review requirements. No FY
2016 TIGER funds may be expended (actually paid out) after September
30, 2024. As part of the review and selection process described in
Section E.2., DOT will consider whether a project is ready to proceed
with an obligation of grant funds from DOT within the statutory time
provided. No waiver is possible for these deadlines.
    The FY 2016 Appropriations Act allows for up to 20 percent of
available funds (or $100 million) to be used by the Department to pay
the subsidy and administrative costs for a project receiving credit
assistance under the Transportation Infrastructure Finance and
Innovation Act of 1998 (``TIFIA'') program, if that use of the FY 2016
TIGER funds would further the purposes of the TIGER Discretionary
Grants program.
    Recipients of prior TIGER Discretionary Grants may apply for
funding to support additional phases of a project awarded funds in
earlier rounds of this program. However, to be competitive, the
applicant should demonstrate the extent to which the previously funded
project phase has been able to meet estimated project schedules and
budget, as well as the ability to realize the benefits expected for the
project.
    A relevant DOT modal administration will administer each TIGER
Discretionary Grant, pursuant to a grant agreement between the TIGER
Discretionary Grant recipient and that modal administration.

C. Eligibility Information

    To be selected for a TIGER Discretionary Grant, an applicant must
be an Eligible Applicant and the project must be an Eligible Project.

1. Eligible Applicants

    Eligible Applicants for TIGER Discretionary Grants are State,
local, and tribal governments, including U.S. territories, transit
agencies, port authorities, metropolitan planning organizations (MPOs),
and other political subdivisions of State or local governments.
    Multiple States or jurisdictions may submit a joint application and
must identify a lead applicant as the primary point of contact, and
also identify the primary recipient of the award. Each applicant in a
joint application must be an Eligible Applicant. Joint applications
must include a description of the roles and responsibilities of each
applicant and must be signed by each applicant.

2. Cost Sharing or Matching

    TIGER Discretionary Grants may be used for up to 80 percent of the
costs of a project located in an urban area\1\ and up to 100 percent of
the costs of a project located in a rural area. Urban area and rural
area are defined in section C.3.ii of this notice. Matching funds are
subject to the same Federal requirements described in Section F.2. as
awarded funds.
---------------------------------------------------------------------------

    \1\ To meet match requirements, the minimum total project cost
for a project located in an urban area must be $6.25 million.
---------------------------------------------------------------------------

    DOT will consider the following funds or contributions as a local
match for the purpose of this program, and as further described in
Section F.1.v:

 Non-Federal funds
 Funds from the Tribal Transportation Program (23 U.S.C. 202)

    But DOT cannot consider the following funds or contributions as a
local match:

 Funds already expended (or otherwise encumbered)
 Funds for which the source of those funds is ultimately a
Federal program.
 Toll credits under 23 U.S.C. 120(i)

3. Other

    i. Eligible Projects--Eligible projects for TIGER Discretionary
Grants are capital projects that include, but are not limited to: (1)
Highway or bridge projects eligible under title 23, United States Code
(including bicycle and pedestrian related projects); (2) public
transportation projects eligible under chapter 53 of title 49, United
States Code; (3) passenger and freight rail transportation projects;
(4) port infrastructure investments (including inland port
infrastructure and land ports of entry); and (5) intermodal projects.
This description of eligible projects is identical to the description
of eligible projects under earlier rounds of the TIGER Discretionary
Grants program.\2\ Research, demonstration, or pilot projects are
eligible only if they result in long-term, permanent surface
transportation infrastructure that has independent utility as defined
in Section C.3.iii. Applicants are strongly encouraged to submit
applications only for eligible award amounts.
---------------------------------------------------------------------------

    \2\ Please note that the Department may use a TIGER
Discretionary Grant to pay for the surface transportation components
of a broader project that has non-surface transportation components,
and applicants are encouraged to apply for TIGER Discretionary
Grants to pay for the surface transportation components of these
projects.
---------------------------------------------------------------------------

    ii. Rural/Urban Definition--For purposes of this notice, DOT
defines ``rural area'' as any area not within an Urbanized Area, as
such term is defined by the Census Bureau,\3\ and will consider a
project to be in a rural area if all or the majority of a project
(determined by geographic location(s) where the majority of project
money is to be spent) is located in a rural area. In this notice
``urban'' means not rural. This definition affects three aspects of the
program. First, the FY 2016 Appropriations Act directs that not less
than $100 million of the funds provided for TIGER Discretionary Grants
are to be used for projects in rural areas. Second, for a project in a
rural area the minimum award is $1 million. Third, the Secretary may
increase the Federal share above 80 percent to pay for the costs of a
project in a rural area.
---------------------------------------------------------------------------

    \3\ For Census 2010, the Census Bureau defined an Urbanized Area
(UA) as an area that consists of densely settled territory that
contains 50,000 or more people. Updated lists of UAs are available
on the Census Bureau Web site at http://www2.census.gov/geo/maps/dc10map/UAUC_RefMap/ua/. Urban Clusters (UCs) are rural areas for
purposes of the TIGER Discretionary Grants program. Please note that
while individual jurisdictions might have a population of fewer than
50,000, if they are included as part of an UA, they will be
classified as urban for purposes of the TIGER program.
---------------------------------------------------------------------------

    To the extent more than a de minimis portion of a project is
located in an Urbanized Area, applicants should identify the estimated
percentage of project costs that will be spent in Urbanized Areas and
the estimated percentage that will be spent in rural areas. The
Department will not provide an award to a project in a rural area
without information showing that the majority of the project funds will
be expended in a rural area. Rural and urban definitions differ in some
other DOT programs, including TIFIA and the Nationally Significant
Freight and Highway Projects Program (Sec.  1105; 23 U.S.C. 117).
    iii. Project Components--An application may describe a project that
contains more than one component, and may describe components that may
be carried out by parties other than the applicant. DOT may award funds
for a component, instead of the larger project, if that component (1)
independently meets minimum award amounts described in Section B and
all eligibility requirements described in Section C; (2) independently
aligns well with the selection criteria specified in Section E; and (3)
meets National Environmental Policy Act (NEPA) requirements with
respect to independent utility. Independent utility means that the
component will represent a transportation improvement that is usable
and represents a reasonable expenditure of DOT funds even if no other
improvements are made in the area, and will be ready for intended use
upon completion of that component's construction. All project
components that are presented together in a single application must
demonstrate a relationship or connection between them. (See Section
D.2.f. for Required Approvals).
    Applicants should be aware that, depending upon the relationship
between project components and upon applicable Federal law, DOT funding
of only some project components may make other project components
subject to Federal requirements as described in Section F.2.
    DOT strongly encourages applicants to identify in their
applications the project components that have independent utility and
separately detail costs and requested TIGER funding for those
components. If the application identifies one or more independent
project components, the application should clearly identify how each
independent component addresses selection criteria and produces
benefits on its own, in addition to describing how the full proposal of
which the independent component is a part addresses selection criteria.
    iv. Limit on Number of Applications--Each lead applicant may submit
no more than three applications. Unrelated project components should
not be bundled in an application for the purpose of avoiding the three
applications per lead applicant limit. Please note that the three-
application limit applies only to applications where the applicant is
the lead applicant. There is no limit on the number of applications for
which an applicant can be listed as a partnering agency. If a lead
applicant submits more than three applications as the lead applicant,
only the first three received will be considered. The Nationally
Significant Freight and Highway Projects (NSFHP) program (Sec.  1105;
23 U.S.C. 117) and the 2016 TIGER Discretionary Grant program have
independent application limits. Applicants applying to both the NSFHP
and the 2016 TIGER Discretionary Grants program may apply for the same
project to both programs (noted in each application), but must timely
submit separate applications that independently address how the project
satisfies applicable selection criteria for the relevant grant program.

D. Application and Submission Information

1. Address

    Applications must be submitted to Grants.gov. General information
for submitting applications through Grants.gov can be found at
www.transportation.gov/TIGER along with specific instructions for the
forms and attachments required for submission. Failure to submit the
information as requested can delay review of the application.

2. Content and Form of Application Submission

    Applications must include the Standard Form 424 (Application for
Federal Assistance), the Project Narrative, and any additional required
attachments as specified by the instructions provided. Applicants
should also complete and attach to their application the ``TIGER 2016
Project Information'' form available at www.transportation.gov/TIGER.
Additional clarifying guidance and FAQs to assist applicants in
completing the SF-424 are available at www.transportation.gov/TIGER.
DOT may ask any applicant to supplement data in its application, but
expects applications to be complete upon submission. To the extent
practicable, applicants should provide data and evidence of project
merits in a form that is verifiable or publicly available.

    The Project Narrative (attachment to SF-424) must respond to the
application requirements outlined below. The application must include
information required for DOT to assess each of the criteria specified
in Section E.1 (Criteria). Applicants must demonstrate the
responsiveness of a project to any pertinent selection criteria with
the most relevant information that they can provide, regardless of
whether such information has been specifically requested, or
identified, in this notice. An application should provide evidence of
the feasibility of achieving project milestones, and of financial
capacity and commitment in order to support project readiness.
    An application should also include a description of how the project
addresses the needs of the area, creates economic opportunity, and
sparks community revitalization, particularly for disadvantaged groups.
    DOT recommends that the project narrative adhere to the following
basic outline and, in addition to a detailed statement of work, project
schedule, and project budget, should include a table of contents, maps,
and graphics as appropriate that make the information easier to review:
    i. Project Description (including a description of what TIGER funds
will support, information on the expected users of the project, a
description of the transportation challenges that the project aims to
address, how the project will address these challenges, and whether,
and how, the project promotes Ladders of Opportunity.) Include relevant
data, such as passenger or freight volumes, congestion levels,
infrastructure condition, and safety experience;
    ii. Project Location (a detailed description of the proposed
project and geospatial data for the project, including a map of the
project's location and its connections to existing transportation
infrastructure, as well as a description of the national, regional, or
metropolitan area in which the project is located, including economic
information such as population size, median income for transportation
facility users, or major industries affected, and project map);
    iii. Project Parties (information about the grant recipient and
other project parties);
    iv. Grant Funds and Sources/Uses of Project Funds (information
about the amount of grant funding requested, availability/commitment of
fund sources and uses of all project funds, total project costs,
percentage of project costs that would be paid with TIGER Discretionary
Grants funds, and the identity of all parties providing funds for the
project and their percentage shares.) Include any other pending or past
Federal funding requests for the project as well as Federal funds
already provided under other programs and the size, nature/source of
the required match for those funds, to clarify that these are not the
same funds counted under the matching requirement for this grant
request. Describe any restrictions attached to specific funds;
compliance or a schedule for compliance with all conditions applicable
to each funding source, and, to the extent possible, funding commitment
letters from non-Federal sources.
    v. Selection Criteria (information about how the project aligns
with each of the primary and secondary selection criteria):

(i) Primary Selection Criteria
    (a) State of Good Repair
    (b) Economic Competitiveness
    (c) Quality of Life
    (d) Environmental Sustainability
    (e) Safety
(ii) Secondary Selection Criteria
    (a) Innovation
    (b) Partnership

    vi. Results of Benefit-Cost Analysis;
    vii. Project Readiness, including planning approvals, NEPA and
other environmental reviews/approvals, (including information about
permitting, legislative approvals, State and local planning, and
project partnership and implementation agreements); and
    viii. Federal Wage Rate Certification (a certification, signed by
the applicant(s), stating that it will comply with the requirements of
subchapter IV of chapter 31 of title 40, United States Code [Federal
wage rate requirements], as required by the FY 2016 Appropriations
Act).
    The purpose of this recommended format is to ensure that
applications clearly address the program requirements and make critical
information readily apparent.
    DOT recommends that the project narrative be prepared with standard
formatting preferences (i.e., a single-spaced document, using a
standard 12-point font, such as Times New Roman, with 1-inch margins).
The project narrative may not exceed 30 pages in length. Documentation
supporting the assertions made in the narrative portion may also be
provided, but should be limited to relevant information. Cover pages,
tables of contents, and the federal wage rate certification do not
count towards the 30-page limit for the narrative portion of the
application. The only substantive portions of the application that may
exceed the 30-page limit are any supporting documents (including a more
detailed discussion of the benefit-cost analysis) provided to support
assertions or conclusions made in the 30-page narrative section. If
possible, Web site links to supporting documentation (including a more
detailed discussion of the benefit-cost analysis) should be provided
rather than copies of these materials. Otherwise, supporting documents
should be included as appendices to the application. Applicants'
references to supporting documentation should clearly identify the
relevant portion of the supporting material. At the applicant's
discretion, relevant materials provided previously to a relevant modal
administration in support of a different DOT discretionary financial
assistance program (for example, New Starts or TIFIA) may be referenced
and described as unchanged. This information need not be resubmitted
for the TIGER Discretionary Grant application but may be referenced as
described above; Web site links to the materials are highly
recommended. DOT recommends using appropriately descriptive file names
(e.g., ``Project Narrative,'' ``Maps,'' ``Memoranda of Understanding
and Letters of Support,'' etc.) for all attachments.

3. Unique Entity Identifier and System for Award Management (SAM)

    DOT may not make a TIGER Discretionary Grant award to an applicant
until the applicant has complied with all applicable DUNS and SAM
requirements. If an applicant has not fully complied with the
requirements by the submission deadline, the application will not be
considered. To submit an application through Grants.gov, applicants
must:
    i. Obtain a Data Universal Numbering System (DUNS) number;
    ii. Register with the System for Award Management (SAM) at
www.SAM.gov;
    iii. Create a Grants.gov username and password; and
    iv. The E-Business Point of Contact (POC) at the applicant's
organization must respond to the registration email from Grants.gov and
login at Grants.gov to authorize the applicant as the Authorized
Organization Representative (AOR). Please note that there can be more
than one AOR for an organization.
    For information and instructions on each of these processes, please
see instructions at http://www.grants.gov/web/grants/applicants/applicant-faqs.html.
    If an applicant is selected for an award, the applicant will be
required to maintain an active SAM registration

with current information throughout the period of the award.

4. Submission Dates and Times

    i. Deadline: Applications must be submitted by 8:00 p.m. EDT on
April 29, 2016. The Grants.gov ``Apply'' function will open on February
26, 2016.
    ii. Only applicants who comply with all submission deadlines
described in this notice and electronically submit valid applications
through Grants.gov will be eligible for award.
    Applicants are strongly encouraged to make submissions in advance
of the deadline. Please be aware that applicants must complete the
Grants.gov registration process before submitting the final
application, and that this process usually takes 2-4 weeks to complete.
If interested parties experience difficulties at any point during the
registration or application process, please call the Grants.gov
Customer Support Hotline at 1-800-518-4726, Monday-Friday from 7:00
a.m. to 9:00 p.m. EDT.
    iii. Late Applications: DOT will not consider applications received
after the deadline except in the case of unforeseen technical
difficulties outlined below. DOT will not consider late applications
that are the result of failure to register or comply with Grants.gov
applicant requirements in a timely manner.
    Applicants experiencing technical issues with Grants.gov that are
beyond the applicant's control must contact<EMAIL_ADDRESS>or
Howard Hill at<PHONE_NUMBER> prior to the corresponding deadline with
the user name of the registrant and details of the technical issue
experienced. The applicant must provide:
    a. Details of the technical issue experienced.
    b. Screen capture(s) of the technical issue experienced along
corresponding ``Grant tracking number'' (Grants.Gov).
    c. The ``Legal Business Name'' for the applicant that was provided
in the SF-424 or pre-application.
    d. The AOR name submitted in the SF-424 (Grants.gov).
    e. The DUNS number associated with the pre-application/application.
    f. The Grants.gov or Pre-Application Help Desk Tracking Number.
    To ensure a fair competition for limited discretionary funds, the
following conditions are not valid reasons to permit late submissions:
(1) Failure to complete the registration process before the deadline
date; (2) failure to follow Grants.gov instructions on how to register
and apply as posted on its Web site; (3) failure to follow all of the
instructions in this notice of funding availability; and (4) technical
issues experienced with the applicant's computer or information
technology (IT) environment. After DOT staff review all of the
information submitted and contacted the Grants.gov Help Desk to
validate the technical issues reported, DOT staff will contact
applicants to either approve or deny the request to submit a late
application through Grants.gov. If the technical issues reported cannot
be validated, the application will be rejected as untimely.

5. Funding Restrictions

    There is no specific set-aside funding solely for pre-construction
activities \4\ in the FY 2016 TIGER Discretionary Grants program.
However, these activities may be eligible to the extent that they are
part of an overall construction project that receives TIGER
Discretionary Grants funding. For TIGER funds to be considered for pre-
construction activities, the applicant must clearly state, in the
application, the pre-construction activity and amount of TIGER funds
that will be expended on that activity.
---------------------------------------------------------------------------

    \4\ Pre-Construction activities are activities related to the
planning, preparation, or design of surface transportation projects.
These activities include but are not limited to environmental
analysis, feasibility studies, design, and engineering of surface
transportation projects as described in Section C.3.
---------------------------------------------------------------------------

E. Application Review Information

1. Criteria

    This section specifies the criteria that DOT will use to evaluate
and award applications for TIGER Discretionary Grants. The criteria
incorporate the statutory eligibility requirements for this program,
which are specified in this notice as relevant. There are two
categories of selection criteria, ``Primary Selection Criteria'' and
``Secondary Selection Criteria.'' Within each relevant selection
criterion, applicants are encouraged to present in measurable terms how
TIGER investment will lead to transformative change(s) in their
community. Projects will also be evaluated for demonstrated project
readiness, benefits and costs, and cost share.
i. Primary Selection Criteria
    Applications that do not demonstrate a likelihood of significant
long-term benefits based on these criteria will not proceed in the
evaluation process. DOT does not consider any primary selection
criterion more important than the others. The primary selection
criteria, which will receive equal consideration, are:
    a. Safety. Improving the safety of U.S. transportation facilities
and systems for all modes of transportation and users. DOT will assess
the project's ability to reduce the number, rate, and consequences of
surface transportation-related accidents, serious injuries, and
fatalities among transportation users, including pedestrians, the
project's contribution to the elimination of highway/rail grade
crossings, and the project's contribution to preventing unintended
releases of hazardous materials. DOT will consider the project's
ability to foster a safe, connected, accessible transportation system
for the multimodal movement of goods and people.
    b. State of Good Repair. Improving the condition and resilience of
existing transportation facilities and systems. DOT will assess whether
and to what extent: (1) The project is consistent with relevant plans
to maintain transportation facilities or systems in a state of good
repair and address current and projected vulnerabilities; (2) if left
unimproved, the poor condition of the asset will threaten future
transportation network efficiency, mobility of goods or accessibility
and mobility of people, or economic growth; (3) the project is
appropriately capitalized up front and uses asset management approaches
that optimize its long-term cost structure; (4) a sustainable source of
revenue is available for operations and maintenance of the project; and
(5) the project improves the transportation asset's ability to
withstand probable occurrence or recurrence of an emergency or major
disaster or other impacts of climate change. Additional consideration
will be given to a project's contribution to improving the overall
reliability of a multimodal transportation system that serves all
users, and to projects that offer significant transformational
improvements to the condition of existing transportation systems and
facilities.
    c. Economic Competitiveness. Contributing to the economic
competitiveness of the United States over the medium- to long-term,
revitalizing communities, and creating and preserving jobs. DOT will
assess whether the project will (1) decrease transportation costs and
improve access for Americans with transportation disadvantages through
reliable and timely access to employment centers, education and
training opportunities, and other basic needs of workers; (2) improve
long-term efficiency, reliability or costs in the movement of workers
or goods; (3) increase the economic productivity of land, capital, or
labor at

specific locations, or through community revitalization efforts; (4)
result in long-term job creation and other economic opportunities; or
(5) help the United States compete in a global economy by facilitating
efficient and reliable freight movement, including border
infrastructure and projects that have a significant effect on reducing
the costs of transporting export cargoes. DOT will prioritize projects
that exhibit strong leadership and vision, and are part of a larger
strategy to significantly revitalize communities and increase economic
opportunities.
    d. Quality of Life. Increasing transportation choices and improving
access to essential services for people in communities across the
United States, particularly for disadvantaged groups. DOT will assess
whether the project furthers the six ``Livability Principles''
developed by DOT with the Department of Housing and Urban Development
(HUD) and the Environmental Protection Agency (EPA) as part of the
Partnership for Sustainable Communities.\5\ DOT will focus on the first
principle, the creation of affordable and convenient transportation
choices.\6\ Further, DOT will prioritize projects developed in
coordination with land-use planning and economic development decisions,
including through programs like TIGER Planning Grants, the Department
of Housing and Urban Development's Regional Planning Grants, the
Environmental Protection Agency's Brownfield Area-Wide Planning Pilot
Program, and technical assistance programs focused on quality of life
or economic development planning. DOT will assess the extent to which
the project will anchor transformative, positive, and long-lasting
quality of life changes at the national, regional or metropolitan
level.
---------------------------------------------------------------------------

    \5\ https://www.transportation.gov/livability/101.
    \6\ In full, this principle reads: ``Provide more transportation
choices. Develop safe, reliable and economical transportation
choices to decrease household transportation costs, reduce our
nations' dependence on foreign oil, improve air quality, reduce
greenhouse gas emissions and promote public health.''
---------------------------------------------------------------------------

    e. Environmental Sustainability. Improving energy efficiency,
reducing dependence on oil, reducing greenhouse gas emissions,
improving water quality, avoiding and mitigating environmental impacts
and otherwise benefitting the environment. DOT will assess the
project's ability to: (i) Reduce energy use and air or water pollution;
(ii) avoid adverse environmental impacts to air or water quality,
wetlands, and endangered species; or (iii) provide environmental
benefits, such as brownfield redevelopment, ground water recharge in
areas of water scarcity, wetlands creation or improved habitat
connectivity, and stormwater mitigation, including green
infrastructure. Applicants are encouraged to provide quantitative
information, including baseline information that demonstrates how the
project will reduce energy consumption, stormwater runoff, or achieve
other benefits for the environment.
ii. Secondary Selection Criteria
    a. Innovation. Use of innovative strategies to pursue the long-term
outcomes outlined above. DOT will also assess the extent to which the
project uses innovative technology to pursue one or more of the long-
term outcomes outlined above or to significantly enhance the
operational performance of the transportation system. DOT will also
assess the extent to which the project incorporates innovations in
transportation funding and finance and leverages both existing and new
sources of funding through both traditional and innovative means.
Further, DOT will consider the extent to which the project utilizes
innovative practices in contracting, congestion management, safety
management, asset management, or long-term operations and maintenance.
DOT is interested in projects that apply innovative strategies to
improve the efficiency of project development or to improve project
delivery.
    b. Partnership. Demonstrating strong collaboration among a broad
range of stakeholders, and the product of a robust, inclusive planning
process.
    (i) Jurisdictional and Stakeholder Collaboration. DOT will consider
the extent to which projects involve multiple partners in project
development and funding, such as State and local governments, other
public entities, and/or private or nonprofit entities. DOT will also
assess the extent to which the project application demonstrates
collaboration among neighboring or regional jurisdictions to achieve
national, regional, or metropolitan benefits. In the context of public-
private partnerships, DOT will assess the extent to which partners are
encouraged to ensure long-term asset performance, such as through pay-
for-success approaches.
    (ii) Disciplinary Integration. DOT will consider the extent to
which projects include partnerships that bring together diverse
transportation agencies and/or are supported, financially or otherwise,
by non-transportation public agencies that are pursuing similar
objectives. For example, DOT will give priority to transportation
projects that are coordinated with economic development, housing, water
infrastructure, and land use plans and policies or other public service
efforts. Similarly, DOT will give priority to transportation projects
that are coordinated with housing, social services, or education
agencies. Projects that demonstrate a robust planning process--such as
those conducted with DOT's various planning programs and initiatives,
the Department of Housing and Urban Development's Regional Planning
Grants and Choice Neighborhood Planning Grants, or the Environmental
Protection Agency's Brownfield Area-Wide Planning Pilot Program, as
well as technical assistance programs focused on livability or economic
development planning--will also be given priority.
iii. Demonstrated Project Readiness
    For projects that receive funding in this round of TIGER, DOT must
obligate funds by September 30, 2019, or the funding will expire.
Therefore, DOT will assess every application to determine whether the
project is likely to proceed to obligation by the statutory deadline
(see Additional Information on Project Readiness Guidelines located at
www.transportation.gov/TIGER for further details), as evidenced by:
    a. Technical Feasibility. The technical feasibility of the project
should be demonstrated by engineering and design studies and
activities; the development of design criteria and/or a basis of
design; the basis for the cost estimate presented in the TIGER
application, including the identification of contingency levels
appropriate to its level of design; and any scope, schedule, and budget
risk-mitigation measures. Applicants must include a detailed statement
of work that focuses on the technical and engineering aspects of the
project and describes in detail the project to be constructed.
    b. Financial Feasibility. The viability and completeness of the
project's financing package (assuming the availability of the requested
TIGER Discretionary Grant funds) should be demonstrated including
evidence of stable and reliable capital and (as appropriate) operating
fund commitments sufficient to cover estimated costs; the availability
of contingency reserves should planned capital or operating revenue
sources not materialize; evidence of the financial condition of the
project sponsor; and evidence of the grant recipient's ability to
manage grants. The applicant must include a detailed project budget in
this section of the application containing a breakdown of how the funds
will be

spent. That budget must estimate--both dollar amount and percentage of
cost--the cost of work for each project component. If the project will
be completed in segments or phases, a budget for each segment or phase
must be included. Budget spending categories must be broken down
between TIGER, other Federal, and non-Federal sources,\7\ and identify
how each funding source will share in each activity.
---------------------------------------------------------------------------

    \7\ Non-Federal sources include State funds originating from
State revenue funded programs, local funds originating from State or
local revenue funded programs, private funds or other funding
sources of non-Federal origins.
---------------------------------------------------------------------------

    c. Project Schedule. The applicant must include a detailed project
schedule that includes all major project milestones--such as start and
completion of environmental reviews and approvals; design; right of way
acquisition; approval of plan, specification and estimate (PS&E);
procurement; and construction- with sufficiently detailed information
to demonstrate that:
    (i) All necessary pre-construction activities will be complete to
allow grant funds to be obligated no later than June 30, 2019, to give
DOT reasonable assurance that the TIGER Discretionary Grant funds will
be obligated sufficiently in advance of the September 30, 2019,
statutory deadline, and that any unexpected delays will not put the
funds at risk of expiring before they are obligated;
    (ii) the project can begin construction quickly upon receipt of a
TIGER Discretionary Grant, and that the grant funds will be spent
steadily and expeditiously once construction starts; and
    (iii) any applicant that is applying for a TIGER Discretionary
Grant and does not own all of the property or right-of-way required to
complete the project should provide evidence that the property and/or
right-of-way acquisition can and will be completed expeditiously.
    DOT may revoke any award of TIGER Discretionary Grant funds and
award those funds to another project if the funds cannot be timely
obligated or construction does not begin in accordance with the project
schedule established in the grant agreement.
    d. Required Approvals
    (i) Environmental Permits and Reviews. An application for a TIGER
Discretionary Grant must detail whether the project will significantly
impact the natural, social and/or economic environment. The application
should demonstrate receipt (or reasonably anticipated receipt) of all
environmental approvals and permits necessary for the project to
proceed to construction on the timeline specified in the project
schedule and necessary to meet the statutory obligation deadline,
including satisfaction of all Federal, State and local requirements and
completion of the National Environmental Policy Act (``NEPA'') process.
Although Section C.3.iii (Project Components) of this notice encourages
applicants to identify independent project components, those components
may not be separable for the NEPA process. In such cases, the NEPA
review for the independent project component may have to include
evaluation of all project components as connected, similar, or
cumulative actions, as detailed at 40 CFR 1508.25. The applicant should
submit the information listed below with the application:
    (1) Information about the NEPA status of the project. If the NEPA
process is completed, an applicant must indicate the date of, and
provide a Web site link or other reference to the final Categorical
Exclusion, Finding of No Significant Impact or Record of Decision. If
the NEPA process is underway but not complete, the application must
detail the type of NEPA review underway, where the project is in the
process, and indicate the anticipated date of completion. Applicants
must provide a Web site link or other reference to copies of any NEPA
documents prepared.
    (2) Information on reviews by other agencies. An application for a
TIGER Discretionary Grant must indicate whether the proposed project
requires reviews or approval actions by other agencies,\8\ indicate the
status of such actions, and provide detailed information about the
status of those reviews or approvals and/or demonstrate compliance with
any other applicable Federal, State, or local requirements.
---------------------------------------------------------------------------

    \8\ Projects that may impact protected resources such as
wetlands, species habitat, cultural or historic resources require
review and approval by Federal and State agencies with jurisdiction
over those resources. Examples of these reviews and approvals can be
found at www.transportation.gov/TIGER.
---------------------------------------------------------------------------

    (3) Environmental studies or other documents--preferably through a
Web site link--that describe in detail known project impacts, and
possible mitigation for those impacts.
    (4) A description of discussions with the appropriate DOT modal
administration field or headquarters office regarding compliance with
NEPA and other applicable environmental reviews and approvals.
    (ii) Legislative Approvals. The applicant should demonstrate
receipt of state and local approvals on which the project depends.
Additional support from relevant State and local officials is not
required; however, an applicant should demonstrate that the project is
broadly supported.
    (iii) State and Local Planning. The planning requirements of the
modal administration administering the TIGER project will apply.\9\
Applicants should demonstrate that a project that is required to be
included in the relevant State, metropolitan, and local planning
documents has been or will be included. If the project is not included
in the relevant planning documents at the time the application is
submitted, the applicant should submit a certification from the
appropriate planning agency that actions are underway to include the
project in the relevant planning document. Because projects have
different schedules, the construction start date for each TIGER
Discretionary Grant will be specified in the project-specific grant
agreements signed by relevant modal administration and the grant
recipients and will be based on critical path items identified by
applicants in response to items (i)(1) through (4) above.
---------------------------------------------------------------------------

    \9\ All projects requiring an action by the Federal Highway
Administration (FHWA) or the Federal Transit Administration (FTA) in
accordance with 23 CFR part 450, must be in the metropolitan
transportation plan, transportation improvement program (TIP) and
statewide transportation improvement program (STIP). Further, in air
quality non-attainment and maintenance areas, all regionally
significant projects, regardless of the funding source, must be
included in the conforming metropolitan transportation plan and TIP.
To the extent a project is required to be on a metropolitan
transportation plan, TIP, and/or STIP, it will not receive a TIGER
Discretionary Grant until it is included in such plans. Projects not
currently included in these plans can be amended by the State and
metropolitan planning organization (MPO). Projects that are not
required to be in long range transportation plans, STIPs, and TIPs
will not need to be included in such plans in order to receive a
TIGER Discretionary Grant. Port, freight and passenger rail projects
are not required to be on the State Rail Plans called for in the
Passenger Rail Investment and Improvement Act of 2008. This is
consistent with the exemption for high-speed and intercity passenger
rail projects under the Recovery Act. However, applicants seeking
funding for freight and passenger rail projects are encouraged to
demonstrate that they have done sufficient planning to ensure that
projects fit into a prioritized list of capital needs and are
consistent with long-range goals. To the extent possible, freight
projects should be included in a state freight plan and supported by
a state freight advisory committee (see MAP-21 Sec. Sec.  1117-
1118). Further information and guidance information on
transportation planning and is available from the following FHWA and
FTA sites respectively--http://www.fhwa.transportation.gov/planning
and http://www.fta.transportation.gov/about/12347.html. Port
planning guidelines are available at StrongPorts.gov.
---------------------------------------------------------------------------

    e. Assessment of Project Risks and Mitigation Strategies. The
applicant should identify the material risks to the project and the
strategies that the lead

applicant and any project partners have undertaken or will undertake in
order to mitigate those risks. In past rounds of TIGER Discretionary
Grants, certain projects have been affected by procurement delays,
environmental uncertainties, and increases in real estate acquisition
costs. The applicant must assess the greatest risks to the projects and
identify how the project parties will mitigate those risks. DOT will
consider projects that contain risks so long as the applicant clearly
and directly describes achievable mitigation strategies.
    The applicant, to the extent they are unfamiliar with the Federal
program, should contact DOT modal field or headquarters offices for
information on what steps are pre-requisite to the obligation of
Federal funds in order to ensure that their project schedule is
reasonable and that there are no risks of delays in satisfying Federal
requirements.
    Contacts for the Federal Highway Administration Division offices--
which are located in all 50 States, Washington, DC, and Puerto Rico--
can be found at http://www.fhwa.dot.gov/about/field.cfm. Contacts for
the ten Federal Transit Administration regional offices can be found at
http://www.fta.dot.gov/12926.html. Contacts for the nine Maritime
Administration Gateway Offices can be found at http://www.marad.dot.gov/about_us_landing_page/gateway_offices/Gateway_Presence.htm. For Federal Railroad Administration Contacts,
please contact TIGER program staff via email at<EMAIL_ADDRESS>or
call Howard Hill at<PHONE_NUMBER>.
iv. Project Costs and Benefits
    An applicant for TIGER Discretionary Grants is generally required
to identify, quantify, and compare expected benefits and costs, subject
to the following qualifications: \10\
---------------------------------------------------------------------------

    \10\ DOT has a responsibility under Executive Order 12893,
Principles for Federal Infrastructure Investments, 59 FR 4233, to
base infrastructure investments on systematic analysis of expected
benefits and costs, including both quantitative and qualitative
measures.
---------------------------------------------------------------------------

    An applicant must prepare and submit an analysis of benefits and
costs. The level of sophistication of the benefit-cost analysis (BCA)
should be reasonably related to the size of the overall project and the
amount of grant funds requested in the application. For smaller
projects, DOT understands that a less detailed analysis for items such
as surveys, travel demand forecasts, market forecasts, and statistical
analyses is appropriate. For larger projects, DOT expects that
applicants will provide a robust and detailed analysis of benefits and
costs. Any subjective estimates of benefits and costs should be
quantified, and the applicant should provide appropriate evidence to
support their subjective estimates. Estimates of benefits should be
presented in monetary terms whenever possible; if a monetary estimate
is not possible, then at least one non-monetary quantitative estimate
(in physical, non-monetary terms) should be provided. Examples of such
benefits include:

 Crash rates
 Ridership estimates
 Emissions levels
 Energy efficiency improvements

    However, an applicant should use qualitative measures to include
benefits that cannot be readily monetized or quantified.
    Depending on the level of sophistication of a BCA that is
reasonably related to the size of an overall project, the lack of a
useful analysis of expected project benefits and costs may be a basis
for not selecting a project for award of a TIGER Discretionary Grant.
However, DOT will use the results of the BCA review as one of several
criteria considered during the TIGER Discretionary Grants evaluation
process.
    The 2016 Benefit-Cost Analyses Guidance for TIGER Grant Applicants
and in the BCA Resource Guide (available at www.transportation.gov/TIGER) provides detailed guidance for preparing benefit-cost analyses.
A recording of the Benefit-Cost Analysis Practitioner's Workshop (2010)
and two BCA-related webinars are also available for viewing at
www.transportation.gov/TIGER, along with examples of benefit-cost
analyses that have been submitted in previous rounds of TIGER.
    Spreadsheets supporting the benefit-cost analysis should be
original Excel spreadsheets, not PDFs of those spreadsheets. Benefits
should be presented, whenever possible, in a tabular form showing
benefits and costs in each year for the useful life of the project. The
application should include projections of costs, travel conditions,
safety outcomes, and environmental impacts for both the build and no-
build scenarios for the project for each year between the completion of
the project and a point in time at least 20 years beyond the project's
completion date or the lifespan of the project, whichever is closer to
the present. The BCA should demonstrate how the benefits and costs of
the proposed project are based on differences in the future values of
these measures between the baseline or no-build scenario and with the
proposed project in place. Benefits and costs should both be discounted
to the year 2016, and calculations should be presented for discounted
values of both the stream of benefits and the stream of costs. If the
project has multiple components, each of which has independent utility,
the benefits and costs of each component should be estimated and
presented separately. The results of the benefit-cost analysis should
be summarized in the Project Narrative section of the application
itself, but the details should be presented in an attachment to the
application if the full analysis cannot be included within the page
limit for the project narrative.
    BCA Flexibility for Tribal Governments: Based on feedback over
previous rounds of TIGER, DOT recognizes that the benefit-cost analysis
can be particularly burdensome on Tribal governments. Therefore, the
Department is providing additional flexibility to Tribal governments
for the purposes of this notice. At their discretion, Tribal applicants
may elect to provide raw data to support the need for a project (such
as crash rates, ridership estimates, and the number of people who will
benefit from the project), without additional analysis. DOT will use
this data to develop estimates (given the data provided) of benefits
and costs. DOT will use these results as one of several criteria
considered during the TIGER Discretionary Grants evaluation process.
Examples of BCAs by successful Tribal applicants are available online
at http://www.transportation.gov/policy-initiatives/tiger/tribal-tiger-bca-examples.
v. Cost Sharing or Matching
    The FY 2016 Appropriations Act directs DOT to prioritize projects
that require a contribution of Federal funds to complete an overall
financing package, and all projects can increase their competitiveness
for purposes of the TIGER program by demonstrating significant non-
Federal financial contributions. The applicant should clearly
demonstrate the extent to which the project cannot be readily and
efficiently completed without a TIGER Discretionary Grant, and describe
the extent to which other sources of funds, including Federal, State,
or local funding, may or may not be readily available for the project.
The Department may consider the form of cost sharing presented in an
application. Firm commitments of cash that indicate a complete project
funding package and demonstrate local support for the project are more
competitive than other

forms of cost sharing. DOT recognizes that applicants have varying
abilities and resources to contribute non-Federal contributions,
especially those communities that are not routinely receiving and
matching Federal funds. DOT recognizes certain communities with fewer
financial resources may struggle to provide cost-share that exceeds the
minimum requirements and will, therefore, consider an applicant's
broader fiscal constraints when evaluating non-Federal contributions.
In the first seven rounds, on average, projects attracted more than 3.5
matching dollars for every TIGER grant dollar.

2. Review and Selection Process

    DOT reviews all eligible applications received before the deadline.
The TIGER review and selection process consists of three phases:
Technical Review, Tier 2 Analysis consisting of project readiness and
economic analysis, and Senior Review. A Control and Calibration Team
ensures consistency across projects and appropriate documentation
throughout the review and selection process. In the Technical
Evaluation phase, teams comprising staff from the Office of the
Secretary (OST) and modal administrations review all eligible
applications and rate projects as Highly Recommended, Recommended,
Acceptable, or Not Recommended based on how well the projects align
with the selection criteria.
    Tier 2 Analysis consists of (1) an Economic Analysis and (2) a
Project Readiness Analysis. The Economic Analysis Team, comprising OST
and modal administration economic staff, assess the potential benefits
and costs of the proposed projects. The Project Readiness Team,
comprising Office of the Secretary Office of Policy (OST-P) and modal
administration staff, evaluates the proposed project's technical and
financial feasibility, potential risks and mitigation strategies, and
project schedule, including the status of environmental approvals and
readiness to proceed.
    In the third review phase, the Senior Review Team, which includes
senior leadership from OST and the modal administrations, considers all
projects that were rated Acceptable, Recommended, or Highly Recommended
and determines which projects to advance to the Secretary as Highly
Rated. The Secretary selects from the Highly Rated projects for final
awards.

3. Additional Information

    Prior to award, each selected applicant will be subject to a risk
assessment required by 2 CFR 200.205. The Department must review and
consider any information about the applicant that is in the designated
integrity and performance system accessible through SAM (currently the
Federal Awardee Performance and Integrity Information System (FAPIIS).
An applicant may review information in FAPIIS and comment on any
information about itself. The Department will consider comments by the
applicant in addition to the other information in FAPIIS, in making a
judgment about the applicant's integrity, business ethics, and record
of performance under Federal awards when completing the review of risk
posed by applicants.

F. Federal Award Administration Information

1. Federal Award Notice

    Following the evaluation outlined in Section E, the Secretary will
announce awarded projects by posting a list of selected projects at
www.transportation.gov/TIGER. Following that announcement, the relevant
modal administration will contact the point of contact listed in the SF
424 to initiate negotiation of the grant agreement.

2. Administrative and National Policy Requirements

    All awards will be administered pursuant to the Uniform
Administrative Requirements, Cost Principles and Audit Requirements for
Federal Awards found in 2 CFR part 200, as adopted by DOT at 2 CFR part
1201. Additionally, applicable Federal laws, rules and regulations of
the relevant modal administration administering the project will apply
to the projects that receive TIGER Discretionary Grants awards,
including planning requirements, Service Outcome Agreements,
Stakeholder Agreements, Buy America compliance, and other requirements
under DOT's other highway, transit, rail, and port grant programs.
    For projects administered by the Federal Highway Administration
(FHWA), applicable Federal laws, rules, and regulations set forth in
Title 23 U.S.C. and Title 23 CFR apply. For an illustrative list of the
applicable laws, rules, regulations, executive orders, polices,
guidelines, and requirements as they relate to a TIGER project
administered by the FHWA, please see http://www.ops.fhwa.dot.gov/freight/infrastructure/tiger/fy2015_gr_exhbt/index.htm. For TIGER
projects administered by the Federal Transit Administration and
partially funded with Federal transit assistance, all relevant
requirements under chapter 53 of title 49 U.S.C. apply. For transit
projects funded exclusively with TIGER Discretionary Grants funds, some
requirements of chapter 53 of title 49 U.S.C. and chapter VI of title
49 CFR apply. For projects administered by the Federal Railroad
Administration, FRA requirements described in 49 U.S.C. Subtitle V,
Part C apply.
    Federal wage rate requirements included in subchapter IV of chapter
31 of title 40, United States Code, apply to all projects receiving
funds under this program, and apply to all parts of the project,
whether funded with TIGER Discretionary Grant funds, other Federal
funds, or non-Federal funds.

3. Reporting

i. Progress Reporting on Grant Activities
    Each applicant selected for TIGER Discretionary Grants funding must
submit quarterly progress reports and Federal Financial Report (SF-425)
on the financial condition of the project and the project's progress,
as well as an Annual Budget Review and Program Plan to monitor the use
of Federal funds and ensure accountability and financial transparency
in the TIGER program.
ii. System Performance Reporting
    Each applicant selected for TIGER Discretionary Grant funding must
collect information and report on the project's observed performance
with respect to the relevant long-term outcomes that are expected to be
achieved through construction of the project. Performance indicators
will not include formal goals or targets, but will include observed
measures under baseline (pre-project) as well as post-implementation
outcomes for an agreed-upon timeline, and will be used to evaluate and
compare projects and monitor the results that grant funds achieve to
the intended long-term outcomes of the TIGER Discretionary Grants
program are achieved. To the extent possible, performance indicators
used in the reporting should align with the measures included in the
application and should relate to at least one of the primary selection
criteria defined in Section E. Performance reporting continues for
several years after project construction is completed, and DOT does not
provide TIGER Discretionary Grant funding specifically for performance
reporting.
iii. Reporting of Matters Related to Recipient Integrity and
Performance
    If the total value of a selected applicant's currently active
grants,

cooperative agreements, and procurement contracts from all Federal
awarding agencies exceeds $10,000,000 for any period of time during the
period of performance of this Federal award, then the applicant during
that period of time must maintain the currency of information reported
to the System for Award Management (SAM) that is made available in the
designated integrity and performance system (currently the Federal
Awardee Performance and Integrity Information System (FAPIIS)) about
civil, criminal, or administrative proceedings described in paragraph 2
of this award term and condition. This is a statutory requirement under
section 872 of Public Law 110-417, as amended (41 U.S.C. 2313). As
required by section 3010 of Public Law 111-212, all information posted
in the designated integrity and performance system on or after April
15, 2011, except past performance reviews required for Federal
procurement contracts, will be publicly available.

G. Federal Awarding Agency Contacts

    For further information concerning this notice please contact the
TIGER Discretionary Grants program staff via email at
<EMAIL_ADDRESS>or call Howard Hill at<PHONE_NUMBER>. A TDD is
available for individuals who are deaf or hard of hearing at 202-366-
3993. In addition, DOT will post answers to questions and requests for
clarifications on DOT's Web site at www.transportation.gov/TIGER. To
ensure applicants receive accurate information about eligibility or the
program, the applicant is encouraged to contact DOT directly, rather
than through intermediaries or third parties, with questions. DOT staff
may also conduct briefings on the TIGER Discretionary Grants selection
and award process upon request.

H. Other Information

1. Protection of Confidential Business Information

    All information submitted as part of or in support of any
application shall use publicly available data or data that can be made
public and methodologies that are accepted by industry practice and
standards, to the extent possible. If the application includes
information the applicant considers to be a trade secret or
confidential commercial or financial information, the applicant should
do the following: (1) Note on the front cover that the submission
``Contains Confidential Business Information (CBI)''; (2) mark each
affected page ``CBI''; and (3) highlight or otherwise denote the CBI
portions. DOT protects such information from disclosure to the extent
allowed under applicable law. In the event DOT receives a Freedom of
Information Act (FOIA) request for the information, DOT will follow the
procedures described in its FOIA regulations at 49 CFR 7.17. Only
information that is ultimately determined to be confidential under that
procedure will be exempt from disclosure under FOIA.

Anthony R. Foxx,
Secretary.
[FR Doc. 2016-04217 Filed 2-25-16; 8:45 am]
BILLING CODE 4910-9X-P