DOT Opens $57.72M for Innovative Finance and Asset Concessions Grant Program
Eligible Applicants: Public entities that own, control, or maintain assets that could be developed into enhanced assets. Applications due May 10, 2024.
Announcement Type: Notice of Funding Opportunity (this program is currently accepting applications)
Opportunity: Innovative Finance and Asset Concessions Grant Program
Overview and Eligible Uses: The purpose of this notice is to solicit applications for the Innovative Finance and Asset Concession Grant Program (IFACGP or the Program). Up to $57.72 million will be awarded on a competitive basis to assist eligible public entities in 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. This notice will award funding from Fiscal Years 2022, 2023, and 2024.
Amount: Total amount of $57,720,000 with awards ranging from $100K to $2M.
Award Type: Cooperative Agreement Grant
Eligible Applicants:
City or township governments
State governments
Native American tribal governments (Federally recognized)
Special district governments
County governments
Key Dates: Applications are due May 10, 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.