Grants will empower communities to generate additional value from existing assets and deliver infrastructure faster and at lower cost using private sector innovative solutions and financing
WASHINGTON, D.C. – The U.S. Department of Transportation’s (USDOT) Build America Bureau (Bureau) today released a Notice of Funding Opportunity (NOFO) for the Innovative Finance and Asset Concession Grant Program (IFAC), making $45.98 million available to assist public entities in facilitating and evaluating public-private partnerships and exploring innovative financing and alternative delivery opportunities for Transportation Infrastructure Finance and Innovation Act (TIFIA)-eligible projects. Grants are available for up to $2 million, with the first $1 million requiring no local match. This is the second NOFO for IFAC, with funds allocated from fiscal years 2024, 2025, and 2026 (if available). Applications are due no later than October 1, 2025. (....)