DOT's Innovative FinanceAsset Concession Grant Program: Enhancing Transportation Infrastructure with BIL Funding

Overview of the Innovative Finance and Asset Concession Grant Program

The Department of Transportation's Build America Bureau is proud to present comprehensive detls on the Innovative Finance and Asset Concession Grant Program, which support public entities in exploring innovative financing mechanisms for transportation infrastructure projects. This program was authorized by the Bipartisan Infrastructure Law BIL and offers funding opportunities to enhance existing assets through Transportation Infrastructure Finance and Innovation Act TIFIA credit assistance.

Grant Types:

The Innovative Finance and Asset Concession Grant Program consists of two primary types of grants:

1. Technical Assistance:

   • Asset Scan: An in-depth assessment of multiple existing assets.

   • Program of Existing Assets: Pre-construction tasks that evaluate innovative financing and delivery methods to achieve specific project goals.

2. Expert Services:

   • This category supports the exploration of opportunities for leveraging public-private funding or alternative approaches to project delivery or procurement of identified assets.

Eligibility Criteria:

Public entities that own, control, or mntn assets capable of being enhanced with TIFIA credit assistance are eligible applicants for this program. For further detls on eligibility, please refer to our FAQ section.

Funding Avlability:

The Bipartisan Infrastructure Law BIL provides $100 million over five fiscal years from FY 2022 to FY 2026 for the program. The funding avlable for the NOFO period of FY 2022-2024 is up to $57.72 million, with a cap on awarding no more than $4 million to any grantee in each state across three years.

Cost Sharing and Matching:

The maximum value of cooperative agreements under this program is $2 million. Grants are offered at different federal shares based on the amount awarded:

• Up to $1 million can be granted at a 100 federal share, with no required non-federal match.

• Amounts in excess of $1 million will receive a federal share of 50, requiring a matching contribution from the non-federal funding source.

Application Process:

To stay informed about program updates and apply for grants, sign up for eml updates and reach out to [email protected] with any questions.

Resources:

We offer a variety of resources including:

• Notice of Funding Opportunity NOFO for FY 2022-2024.

• A Key Information Table Template for organizing detls about proposed projects.

• An Existing Asset Information Template to help you prepare asset-specific data.

• A set of Program FAQs updated regularly to address common queries.

Last Updated: September 17, 2024

Department of Transportation

Build America Bureau

1200 New Jersey Avenue SE

Washington, DC 20590

Phone: 202-366-2300

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Translation

The content provided is an English-language version of the original text. To enhance and clarity, I have refined the language for better flow and structure. The key detls about grant types, eligibility criteria, funding avlability, cost-sharing requirements, application process, and resources remn intact. This document mntn accuracy while presenting information in a more accessible format.

Important:

that while every effort has been made to ensure the content's accuracy, please refer back to the official source or contact the provided points of contact for confirmation or detled information about specific aspects of the program like eligibility criteria and funding disbursement processes.
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