The U.S. Department of Transportation's Build America Bureau has announced the availability of $45.98 million in grants under the Innovative Finance and Asset Concession Grant Program (IFAC). The funding aims to assist public entities in exploring public-private partnerships and innovative financing for Transportation Infrastructure Finance and Innovation Act (TIFIA)-eligible projects.
The program offers two types of grants: technical assistance and expert services. Technical assistance grants help recipients build organizational capacity by hiring qualified employees or procuring advisors, while expert services grants allow for the procurement of professional expertise related to specific assets. Applicants must choose one grant type per application.
Eligible applicants include state, Tribal, or local governments; special purpose public authorities; or agencies chartered by a state, Tribal, or local government. Applications are due by October 1, 2025.
"This novel program is promoting efficient and effective use of publicly owned assets," said Bureau Executive Director Morteza Farajian, Ph.D. "The Bureau is constructing a bridge between our state, tribal, and local partners who have valuable underutilized assets and private partners who have expertise and financial capital."
A free informational webinar about the IFAC NOFO will be held on August 27, 2025. Although not mandatory for funding eligibility, participation is encouraged to understand the application process better.
This initiative complements other USDOT programs aimed at providing communities with tools to access federal funding for infrastructure projects more efficiently.
Information from this article can be found here.
