The purpose of this notice is to solicit applications for the Innovative Finance and Asset Concession Grant Program (IFACGP or the Program). Funds 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.

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.

Two types of grants are available under the new program: Technical Assistance Grants and Expert Services Grants. Technical Assistance grants will build organizational capacity and advance a portfolio of assets by conducting pre-construction tasks, such as asset scans, value-for-money analyses, and other tasks that consider innovative finance and delivery, including asset concessions. Expert Services Grants enable recipients to hire expert professionals to develop and deliver public-private partnerships in connection with the development of a specific asset. Applicants must choose one of the grant types to apply for in this round of funding.