The Department of Transportation’s (DOT) Build America Bureau on March 11th announced a Notice of Funding Opportunity for the Innovative Finance and Asset Concession Grant Program. Authorized by the Infrastructure Investment and Jobs Act (IIJA), the program provides grants to help public entities facilitate public-private partnerships (P3s) and explore innovative financing opportunities for Transportation Infrastructure Finance and Innovation Act (TIFIA)-eligible projects. This NOFO makes $57.7 million available and offers two types of grants: Technical Assistance Grants and Expert Services Grants.
State, local, and tribal government agencies and special purpose public authorities are eligible to apply. Applications are due May 10th. The Build America Bureau plans to offer informational webinars on the grant program March 21.
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