The U.S. DOT recently launched a new demonstration program to establish several Regional Infrastructure Accelerators.
The program will expedite delivery of transportation infrastructure projects through innovative finance and delivery methods.
The Department’s Build America Bureau issued a Notice of Funding Opportunity to solicit applications to designate Accelerators that will serve defined geographic areas, act as a resource to qualified entities within the designated areas, and demonstrate the effectiveness of these Accelerators to expedite the delivery of eligible projects through Federal credit assistance programs, including Transportation Infrastructure Finance and Innovation Act (TIFIA) and other innovative financing methods. A total of $5 million is available for the program.
“These Regional Infrastructure Accelerators will deliver projects more quickly to local communities through innovative financing methods,” U.S. Transportation Secretary Elaine Chao said in a statement.
U.S. DOT says the Accelerators will assist project sponsors in project planning, evaluating innovative financing options, accessing technical assistance and best practices, and developing a pipeline of projects ready for investment.
The Bureau will administer the Regional Infrastructure Accelerator program. The Bureau was established to streamline credit opportunities while also providing technical assistance and encouraging innovative best practices in project planning, financing, delivery, and operation.
SOURCE: U.S. DOT