Admin Announces $47 Million in Grants to Facilitate P3 Projects

What’s happening: The U.S. Department of Transportation (DOT) and the Build America Bureau announced June 15 they are awarding $46.97 million in grants across 27 states toward the development of public-private partnerships (P3s).

Through its Innovative Finance and Asset Concession Program (IFAC), the Bureau said, “states will have the resources to engage with businesses that can provide innovative financing solutions on local projects.”

The Department awarded 45 grants via IFAC, including:

• $1 million for the Road Commission of Oakland County, Mich., to support the development of a countywide wireless communications program.
• $1.25 million to the Pennsylvania DOT to explore P3 opportunities for creating high-occupancy toll lanes on Interstate 279/579 to ease congestion and improve safety.
• $1 million for the City of Denton, Texas, to help integrate modern communications, sensors, and data analytics into its transportation infrastructure.
• $999,763 to the West Virginia Department of Highways to evaluate improvement needs for state-owned bridges and explore P3 project delivery opportunities.

What’s next: Attendees of ARTBA’s P3s in Transportation Conference, being held July 14-16 in Washington, D.C., will hear from federal, state and local policymakers on innovative financing and delivery of projects. Register here, or contact ARTBA’s Savannah Waters for more information.