Innovative Finance and Asset Concession (IFAC) Grant Program

The purpose of this notice is to solicit applications for the Innovative Finance and Asset Concession (IFAC) Grant Program (the Program). Up to $45.98 million will be awarded on a competitive basis to assist eligible public entities in facilitating and evaluating public-private partnerships and exploring opportunities for innovative financing and delivery for eligible transportation infrastructure projects, including highway, transit, passenger rail, certain freight facilities, certain port projects, rural infrastructure projects, airports, and transit-oriented development projects. This notice will award funding from Fiscal Years 2024, 2025, and 2026. Eligible applicants for this Program are public entities that own, control, or maintain assets that could be developed into enhanced assets. Eligible assets are those activities that would reasonably be deemed eligible to receive a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan through the Bureau.