The University of Maryland (UMD) has been granted $5 million by the U.S. Department of Transportation (DOT) to create a national "knowledge hub" for public and private transportation agencies, DOT announced recently.
The Build America Center (BAC) will promote the Build America Bureau (BAB) and the Federal Highway Administration (FHWA) efforts to modernize the country's transportation infrastructure by providing state transportation departments, local governments and other agencies with information and resources "in all areas of alternative and innovative project financing and delivery," the DOT reports in the April 8 announcement.
BAB Executive Director Morteza Farajian said transportation professionals and historically under-served communities will benefit from learning about low-interest, long-term federal financing opportunities.
“Alternative financing is an incredible tool to move projects forward," Farajian said in the report, "and this Center will help public entities access technical assistance in financial planning and innovative project delivery methods.”
UMD will provide a 20 percent match to the grant and serve as the national center; Virginia Tech, Georgia Tech, Purdue and Stanford will serve as regional centers, according to the DOT report. UMD described the BAC as a "knowledge hub" where collaboration and research drive innovation in the transportation industry.
“An upgraded transportation system is crucial to the American way of life and the nation's economic health depends on it," UMD President Darryll Pines said in the announcement. "We look forward to leveraging Maryland’s nationally recognized expertise in transportation engineering as we help address this critical societal need."
The BAC grant to UMD is part of President Joseph R. Biden's $1.2 trillion Bipartisan Infrastructure Law's funding for infrastructure projects, the DOT reports.
"This new Build America Center will mean more transformative transportation projects across the country," U.S. Transportation Secretary Pete Buttigieg said in the announcement. "By bringing together the public and private sector, we can help bring more good projects to life and improve the lives of Americans."
