The U.S. Department of Transportation (USDOT) has awarded $46.97 million to 45 state and local governments to evaluate public-private partnership (P3) opportunities and alternative infrastructure financing strategies. The funding comes through the Innovative Finance and Asset Concession Grant (IFAC) Program, which was established under the Infrastructure Investment and Jobs Act.
The grants will support feasibility studies, asset assessments, and project development activities. USDOT’s Build America Bureau administers the program and aims to help agencies explore alternative project delivery methods and private-sector investment opportunities.
Several states will use the funding to evaluate future transportation projects. The Pennsylvania Department of Transportation received $1.25 million to study a potential P3 that would convert existing high-occupancy vehicle lanes on Interstate 279 and Interstate 579 into toll lanes serving the Pittsburgh area. The West Virginia Department of Transportation received nearly $1 million to assess state-owned bridges and identify potential P3 delivery opportunities.
The South Carolina Department of Transportation will conduct a statewide asset scan covering major highway corridors, including I-77 and I-85. The Oklahoma Department of Transportation received $1.25 million to develop alternative delivery and financing strategies for future infrastructure projects.
The IFAC program provides technical assistance and project development funding to state and local agencies. USDOT received 107 applications requesting more than $108 million during this funding round.