The U.S. Department of Transportation’s Build America Bureau has released a Notice of Funding Opportunity for the Innovative Finance and Asset Concession Grant Program, making $45.98 million available to public entities. Applications are due October 1, 2025.
The program, created under the Infrastructure Investment and Jobs Act of 2021, supports innovative financing, asset concessions, alternative delivery methods, and public-private partnership opportunities for Transportation Infrastructure Finance and Innovation Act–eligible projects.
Grants of up to $2 million are available. The first $1 million requires no local match, while amounts above $1 million require a 50 percent non-federal match. No more than $4 million can be awarded in a single state over a three-year period, and each applicant may receive only one agreement.
Two grant types are offered:
- Technical Assistance Grants for asset scans or advancing programs of existing assets.
- Expert Services Grants for professional services tied to a specific asset or group of assets.