Regional Infrastructure Accelerator Program - NOFO Reissuance

The Department of Transportation's Build America Bureau has issued a Notice of Funding Opportunity (NOFO) for the Regional Infrastructure Accelerator Program for FY 2024, offering $20 million in cooperative agreements to U.S. public entities. The program aims to enhance local infrastructure project delivery through innovative financing strategies under the Transportation Infrastructure Finance and Innovation Act (TIFIA). Eligible applicants include state, municipal, and Tribal governments, with a focus on new applicants. The awards will range from $975,000 to $2 million, depending on the proposed projects' needs. Key activities supported by the funding include project planning, feasibility studies, and regulatory compliance analysis. Applications are due within 30 days of the NOFO release, and applicants must comply with federal registration requirements. The Bureau emphasizes the importance of strong partnerships and innovative project bundles while also outlining the review process for applications, which considers criteria such as experience, partnerships, and project viability. The program ultimately aims to create sustainable infrastructure solutions and improve transportation networks across varied geographic regions. Award decisions will be made after a thorough review of all submissions, ensuring compliance with federal laws and effective project execution.