Year: 2025
Type: article
Abstract: The Inside Guide to Winning Federal Funds DOT grants boost communities' assets, lower financingThe U.S. Department of Transportation's (DOT) Build America Bureau recently released $45.98 million for the Innovative Finance and Asset Concession Grant Program (IFAC), to help facilitate and evaluate publicprivate partnerships and explore innovative financing and alternative delivery opportunities for Transportation Infrastructure Finance and Innovation Act (TIFIA)-eligible projects.The funding helps ensure communities have tools to access federal funding and financing for delivering transformative infrastructure projects faster and at lower cost, DOT said."This novel program is promoting efficient and effective use of publicly owned assets by enabling communities to find answers to this basic question: do they have underutilized assets that can be leveraged to address their infrastructure needs?" said Bureau Executive Director Morteza Farajian, in a statement."The Bureau is constructing a bridge between our state, tribal, and local partners who have valuable underutilized assets and private partners who have expertise and financial capital to generate additional value from those assets to address community needs faster and at lower cost."DOT said two types of grants available under the program:• Technical assistance and expert services grants build organizational capacity and identify a portfolio of underutilized assets by hiring qualified employees or procuring advisors.• Expert services grants enable recipients to procure expert professionals in connection with the development of a specific asset or assets.Eligible applicants include state, local, special district, and Native American tribal governments.
Source: Federal Grants & Contracts
DOI: 10.1002/fgc.34462
Language: English
Subfield: Ecology
Field: Environmental Science
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4414336295
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