Innovative Finance and Asset Concession (IFAC) Grant Program
ID: 360279Type: Posted
Overview

Buyer

69A345 Office of the Under Secretary for Policy (DOT-DOT X-50)

Award Range

$100K - $2M

Eligible Applicants

Federally Recognized Native American Tribal Governments

Funding Category

Transportation

Funding Instrument

Cooperative Agreement

Opportunity Category

Discretionary

Cost Sharing or Matching Requirement

Yes

Original Source

https://grants.gov/search-results-detail/360279
Timeline
    Description

    The U.S. Department of Transportation's Office of the Under Secretary for Policy is offering the Innovative Finance and Asset Concession (IFAC) Grant Program, which aims to facilitate public-private partnerships for enhancing transportation infrastructure. This program will award up to $45.98 million on a competitive basis to eligible public entities, including federally recognized Native American Tribal Governments, to explore innovative financing and delivery methods for projects such as highways, transit, and airports. The funding, which ranges from $100,000 to $2 million per grant, is intended to build organizational capacity and provide expert services for project-level assistance, with applications due by October 1, 2025. Interested applicants can reach out to Program Manager Jennifer L. Hara at jennifer.hara@dot.gov for further information.

    Point(s) of Contact
    jennifer.hara@dot.gov
    Files
    Title
    Posted
    IFAC.bin
    The U.S. Department of Transportation's Innovative Finance and Asset Concession (IFAC) Grant Program, detailed in this FY24-26 Notice of Funding Opportunity, offers $45.98 million to facilitate public-private partnerships for enhancing existing transportation assets. Eligible entities, including states, tribal governments, and local governments, can apply for Technical Assistance or Expert Services grants. Technical Assistance grants (up to $2 million, with federal share varying based on amount) build organizational capacity for developing asset concessions, requiring evaluation of at least two existing assets. Expert Services grants fund advisors for project-level assistance, focusing on leveraging public and private funding for a specific existing asset. Applications are due by October 1, 2025, via Grants.gov, and will be competitively reviewed based on technical merit and readiness criteria, including need, goals, development strategy, work plan feasibility, private sector investment viability, capacity to deliver, and budget. The program aims to increase public entities' capacity to engage in innovative financing and project delivery methods.
    IFAC.pdf
    The U.S. Department of Transportation's Innovative Finance and Asset Concession (IFAC) Grant Program, detailed in this FY24-26 Notice of Funding Opportunity, offers $45.98 million to facilitate public-private partnerships for enhancing existing transportation assets. Eligible entities, including states, tribal governments, and local governments, can apply for Technical Assistance or Expert Services grants. Technical Assistance grants (up to $2 million, with federal share varying based on amount) build organizational capacity for developing asset concessions, requiring evaluation of at least two existing assets. Expert Services grants fund advisors for project-level assistance, focusing on leveraging public and private funding for a specific existing asset. Applications are due by October 1, 2025, via Grants.gov, and will be competitively reviewed based on technical merit and readiness criteria, including need, goals, development strategy, work plan feasibility, private sector investment viability, capacity to deliver, and budget. The program aims to increase public entities' capacity to engage in innovative financing and project delivery methods.
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