The Build America Bureau will be offering $100 million in grants over five years through the Innovative Finance and Asset Concession Grant Program, a new program authorized by the Bipartisan Infrastructure Law.
The program will assist eligible applicants in facilitating and evaluating public-private partnerships and exploring innovative financing and delivery opportunities for Transportation Infrastructure Finance and Innovation Act eligible projects.
Eligible applicants include local governments, special purpose public authorities, states, tribal governments, and agencies chartered by a state, tribal, or local government.
Two types of grants will be available under the program.
Technical Assistance grants will be for conducting pre-construction tasks and other tasks that consider innovative finance and delivery.
Expert Services Grants will be for hiring professionals to develop and deliver public-private partnerships in connection with the development of a specific asset.
“The grants will allow local and state leaders the opportunity to explore innovative financing solutions by accessing external expertise and building internal support,” Deputy Transportation Secretary Polly Trottenberg said.
The application deadline is May 10. Applicants must specify the grant type when applying.
The agency will be awarding $57.72 million for fiscal years 2022, 2023, and 2024.
Grants will be awarded up to $2 million. The first $1 million requires no local match.