Asset Concessions and Innovative Finance Assistance
Program Funding
Annual program obligations reported to SAM.gov.
Program Objective
The objective of this program is to facilitate access to expert services for, and to provide grants to, eligible applicants to facilitate and evaluate public-private partnerships, including asset concessions, and to explore opportunities for innovative financing and delivery for eligible transportation projects.
Eligibility
Eligible Applicants
- U.S. State Government
- U.S. Territory Government
- Federally Recognized Tribal Government
- Municipality/Township Government
- County Government
- Local Government Consortium
Eligible applicants for this Program are states, Tribal governments or units of local government, an agency or instrumentality of a state, or a special purpose district or public authority.
In addition, to be eligible an applicant must own, control, or maintain at least one transportation facility described in 23 U.S.C. § 601(a). Further, the recipient must be authorized to enter into a contract that transfers ownership, revenues, maintenance, or other benefits associated with eligible transportation assets.
How to Apply
Award Procedure
Following the evaluation outlined in Section E, the Secretary will announce awarded applications by posted a list of selected recipients at www.transportation.gov/BuildAmerica/TAPrograms. The posting of the list of selected award recipients will not constitute an authorization to begin performance. Following the announcement, the Department will contact the point of contact listed in the SF-424 to initiate negotiation of a grant agreement. The Department will also provide additional technical assistance and support resources to first-time U.S. DOT funding recipients and those who request additional support, as appropriate.
The Bureau will notify applicants who are not selected for an award based on the evaluation criteria and other consideration within 30 calendar days of the Department’s final decisions on selections and offer a written or telephonic debrief to provide an explanation of, and guidance regarding, the reasons why the application was not approved.
Decision Timeline
- Approval: From 90 to 120 days
https://www.transportation.gov/buildamerica/innovativefinancegrants
Program details & compliance
Description
This Program awards monetary grants to successful applicants to acquire access to expert services to enhance the technical capacity of eligible entities to identify underutilized assets, that have the potential to be further developed and provide additional public benefits, in which the private sector partner could assume a greater role in project planning, development, financing, construction, maintenance, and operation, including by assisting eligible entities in entering into asset concessions.
Mission Categories
Primary: Highways, Public Roads, and Bridges
Other categories:
Urban Mass Transit
Use of Funds
Allowed Uses
i. Identifying appropriate assets or projects for asset concessions;
ii. Evaluating and publicly presenting the risks and benefits of all contract provisions for the purpose of transparency and accountability;
iii. Identifying best practices to protect the public interest and priorities;
iv. Identifying best practices for managing transportation demand and mobility along a corridor, including through provisions of the asset concession, to facilitate transportation demand management strategies;
v. Soliciting and negotiating asset concessions, including hiring staff in public agencies;
vi. Conducting value-for-money analysis or comparable analysis;
vii. Evaluating options for the structure and use of asset concession payments;
viii. Integrating and coordinating pricing, data, and fare collection with other regional operators that exist or may be developed.
ix. Project planning and design;
x. Feasibility studies;
xi. Revenue forecasting,
xii. Economic assessments, cost-benefit analyses, value-for-money analyses;
xiii. Public benefit studies;
xiv. Business case development;
xv. Risk assessments;
xvi. Lifecycle cost analyses, financing and funding options analyses, procurement alternatives analyses;
xvii. Statutory and regulatory framework analyses;
xviii. Pre-procurement and pre-construction activities;
xix. Financial and legal planning (including the identification of statutory authorization, funding, and financing options);
xx. Early assessment of permitting, environmental review, and regulatory processes and costs; and
xxi. Assistance with entering into an asset concession.
Reporting & Compliance
Applicable 2 CFR 200 Subparts
- Subpart B — General Provisions
- Subpart C — Pre-Federal Award Requirements
- Subpart D — Post-Federal Award Requirements
- Subpart E — Cost Principles
- Subpart F — Audit Requirements
Formula
The maximum value of cooperative agreements is $2 million. Cooperative agreements of up to $1 million are offered at 100 percent federal share (no required non-federal match). Amounts over $1 million are offered at a 50 percent federal share (50 percent required non-federal match). For example, a cooperative agreement of $2 million in federal aid would be matched by $1 million of non-federal funds, supporting a $3 million effort. No more than $4 million can be awarded to grantees in a single state over a three-fiscal-year period, and only one agreement can be awarded per recipient.