Innovative Finance and Asset Concession Grant Program
Innovative Finance and Asset Concession Grant Program
Round 2 Awards Announced
$46.97 Million Awarded to Advance Innovative Financing and Partnership Approaches for Transportation Infrastructure
On 6/15/2026, the Build America Bureau awarded $46.97 million in Innovative Finance and Asset Concession grants to 45 recipients in 27 states to help public entities scan their existing assets to unlock their value and explore innovative financing, alternative delivery, and public-private partnership opportunities. The Build America Bureau received 107 total applications requesting more than $108 million. Read the press release and learn about the selected projects.
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Resources and Additional Information
Program Overview
The Innovative Finance and Asset Concession Grant Program (IFAC), established by the Infrastructure Investment and Jobs Act (IIJA) in 2021, authorizes funding to assist public entities in facilitating and evaluating public-private partnerships and exploring innovative financing and alternative delivery opportunities for Transportation Infrastructure Finance and Innovation Act (TIFIA) eligible projects.
Two types of grants are available under the program:
- Technical assistance grants enable recipients to build organizational capacity and identify a portfolio of underutilized assets by hiring qualified employees or procuring advisors.
- Expert services grants enable recipients to procure expert professionals in connection with the development of a specific asset or assets.
Eligible applicants include state, Tribal, or local governments; special purpose public authorities; or agencies chartered by a state, Tribal, or local government.