DOT-OST-2025-0033: Innovative Finance and Asset Concession (IFAC) Grant Program
Closed
This grant is closed. Who won this program's grants before is below, and similar open grants are at the end of the page. It is in our archive of Department of Transportation notices from 2025.
69A345 Office of the Under Secretary for Policy offered grants of up to $2.0 million (at least $100,000) to state and local governments and tribes. Applications closed on October 1, 2025.
From the official notice on Grants.gov, last changed August 12, 2025. Checked November 7, 2026.
- Award ceiling$2.0 million
- Award floor$100,000
- Cost sharingRequired
- Funding typeCooperative Agreement
Key dates
| Posted | August 13, 2025 |
|---|---|
| Deadline | October 1, 2025 |
| Archived by Grants.gov | October 31, 2025 |
Who can apply
This opportunity was open to state and local governments and tribes.
- State governments
- County governments
- City or township governments
- Special district governments
- Native American tribal governments (Federally recognized)
Is this a realistic fit?
- Past Asset Concessions and Innovative Finance Assistance awards averaged $1.1 million; this notice allows up to $2.0 million per award.
- Most of the program's money (97% over five years) went to state and local governments.
- The notice requires cost sharing or matching funds, so you must contribute part of the project cost.
What the grant funds
The purpose of this notice is to solicit applications for the Innovative Finance and Asset Concession (IFAC) Grant Program (the Program). Up to $45.98 million 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. This notice will award funding from Fiscal Years 2024, 2025, and 2026. 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.
Who has won Asset Concessions and Innovative Finance Assistance grants before
From fiscal 2021 to 2025, Asset Concessions and Innovative Finance Assistance (20.945) awarded $48.5 million across 44 grant awards, an average of $1.1 million per award.
| Recipient | State | Awards | Amount |
|---|---|---|---|
| Little Rock Municipal Airport Commission | Arkansas | 1 | $2.0 million |
| Richmond, City of | Virginia | 1 | $2.0 million |
| Rhode Island Public Transit Authority | Rhode Island | 1 | $2.0 million |
| Michigan Department of Transportation | Michigan | 1 | $2.0 million |
| City of New Orleans | Louisiana | 1 | $2.0 million |
Applying now
This notice no longer takes applications. Agencies often post the same opportunity again under a new number, so check the program's notices on Grants.gov and the similar open grants below.
The notice on Grants.gov keeps its full text and attachments, which is useful for planning a resubmission.
Questions people ask
Is DOT-OST-2025-0033 still open?
No. It closed on October 1, 2025.
Who can apply for Innovative Finance and Asset Concession (IFAC) Grant Program?
69A345 Office of the Under Secretary for Policy accepted applications from state and local governments and tribes.
What is the deadline for Innovative Finance and Asset Concession (IFAC) Grant Program?
Closed October 1, 2025. Applications are no longer accepted; the program's newer notices are on this page when there are any.
How much funding is available?
Awards of up to $2.0 million each.
Who has won Asset Concessions and Innovative Finance Assistance grants before?
The largest recipients over five fiscal years were Little Rock Municipal Airport Commission, Richmond, City of, Rhode Island Public Transit Authority. The program made 44 awards worth $48.5 million in that time.