Innovative Finance and Asset Concessions Grant Program
ID: 349860Type: Posted
Overview

Buyer

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

Award Range

$0 - $2M

Eligible Applicants

Federally Recognized Native American Tribal Governments

Funding Category

Transportation

Funding Instrument

Grant

Opportunity Category

Discretionary

Cost Sharing or Matching Requirement

Yes

Original Source

https://grants.gov/search-results-detail/349860

Additional Information

https://www.transportation.gov/buildamerica/innovativefinancegrants
Timeline
    Description

    The Office of the Under Secretary for Policy at the Department of Transportation is soliciting applications for the Innovative Finance and Asset Concessions Grant Program (IFACGP), which aims to enhance public-private partnerships in transportation infrastructure projects. This program will award up to $57.72 million in grants to eligible public entities, specifically Federally Recognized Native American Tribal Governments, to facilitate innovative financing and delivery methods for existing transportation assets, including highways, transit systems, and airports. The grants are designed to align with USDOT’s strategic goals of safety, equity, climate resilience, and job creation, particularly benefiting historically disadvantaged communities. Interested applicants must submit their proposals electronically by May 10, 2024, with individual grants capped at $2 million, and can contact Maritza Pechin at maritza.pechin@dot.gov for further information.

    Point(s) of Contact
    maritza.pechin@dot.gov
    Files
    Title
    Posted
    Existing Asset Information Template.docx
    Existing.bin
    IFACGP Key Information Table Template.docx
    IFACGP.bin
    InnovativeFinanceAssetConcession_NOFO_Final.pdf
    The Department of Transportation's Innovative Finance and Asset Concession Grant Program (IFACGP) solicits applications for up to $57.72 million to enhance public-private partnerships (PPP) in transportation projects. The grants target public entities owning or managing existing transportation assets, empowering them to improve these assets using innovative financing methods. Eligible entities can apply for either Technical Assistance Grants for organizational capacity building or Expert Services Grants for specific asset development. Funded projects are expected to align with USDOT’s strategic goals of safety, equity, climate resilience, and job creation, while also benefiting historically disadvantaged communities. Applications must be submitted electronically by May 10, 2024, with financial assistance capped at $2 million per agreement. Additionally, up to 50% non-federal matching funds may be required for larger cooperative agreements. The application process emphasizes clarity in identifying needs, desired outcomes, and the readiness to implement proposed activities within a 36-month period, all while ensuring compliance with federal regulations, including civil rights requirements. The program ultimately aims to foster effective transportation infrastructure improvements through public and private sector collaboration, adhering to broader governmental priorities on equity and sustainability.
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