DOT announces $38.8M funding for Innovative Finance and Asset Concessions Grant Program
Eligible applicants: Counties, Cities, Special Districts, States and Tribes. Applications are Due January 12,2024.
Opportunity: Innovative Finance and Asset Concessions Grant Program
Announcement Type: Grants Notice
Overview and Eligible Uses: Funds are available for facilitating and evaluating public-private partnerships and exploring opportunities for innovative financing and delivery for eligible transportation infrastructure projects, including highway, transit, passenger rail, certain freight facilities, certain port projects, rural infrastructure projects, airports, and transit-oriented development projects.
Two types of grants will be available: Technical Assistance Grants will be awarded to build organizational capacity to explore innovative finance opportunities in a portfolio of assets and projects. Expert Services Grants will be awarded for project development of identified assets, including hiring professional services to explore opportunities for leverage. Applicants can seek either type of grant but must choose one for this round of funding.
Amount: DOT expects to make 30 awards ranging from $100K to $2M for a total of $38.8M
Award Type: Cooperative Agreement Grant
Eligible Applicants: County governments, city or township governments, special district governments, state governments, and federally recognized Native American tribal governments.
Key Dates: The estimated posting date is September 22, 2023 with the due date being 45 days after the NOFO publication, November 17, 2023.
Awards are expected to be awarded on Jan 12, 2024 with projects starting in March 2024.
Key Links:
For a full list of currently available grant programs under the Infrastructure Law and other helpful tools, take a look at our Helpful Resources page.
This tracker will continue to send updates when new funding opportunities are announced.