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On September 9th, the Local Infrastructure Hub hosted a session to discuss how local governments can secure federally funded technical assistance to attract private investment in transportation innovation. The Innovative Finance and Asset Concession Grant (IFAC) Program, which is currently accepting applications, provides local governments with expert support on innovative financing strategies, including public-private partnerships and asset concessions, for a variety of transportation projects. We were joined by Jennifer Hara, Acting Head of Innovative Finance (Technical Assistance), Build America Bureau, U.S. Department of Transportation; Chris Coes, Executive Director at American Forward; and past grant recipients such as Ben McAdams, Vice Chair, Site Readiness Fund; and Rory McGuiness, Deputy Director, Columbus Department of Public Service.
Key Insights Shared
The vision has to be clear.
To secure funding, communities must articulate a clear and compelling vision. This isn’t just about identifying a site or applying for dollars, it’s about showing how a project aligns with a city’s broader goals, such as economic development, transportation connectivity, housing and community revitalization. Site Readiness Fund for Good Jobs Cleveland won an IFAC grant to support planning for transforming underutilized, and often contaminated, industrial land into productive use. The Central Ohio Transit Authority received an IFAC award by partnering with the city of Columbus to plan the redevelopment of a centrally located, transit-owned site into a mixed-use transit center as part of a broader downtown revitalization and transit expansion strategy. Both Ben McAdams and Rory McGuiness emphasized that success started with a well-defined story. What the project is, why it matters, and how it connects to a larger community strategy. Federal partners are looking to fund places that know where they’re headed and how to get there.
These are easy access dollars.
Unlike traditional federal grants that can be highly technical and labor-intensive to apply for, IFAC is designed to be accessible. This is especially true for smaller cities or resource-limited localities. As Ben McAdams highlighted, communities can realistically put together strong applications even with tight timelines. The program is flexible, funding a range of pre-development activities such as financial modeling, feasibility studies, public engagement and strategic planning. This kind of early-stage work is often hardest to fund, yet essential to moving projects forward. This approach is about getting cities “project-ready” to later pursue financing like Transportation Infrastructure Finance and Innovation Act or attract private investment.
This grant helps communities help themselves.
Chris Coes, Executive Director at American Forward, emphasized that at its core IFAC is about capacity building. The program equips cities with the tools, technical assistance and support to move from concept to implementation. It also encourages partnerships with transit agencies, nonprofits and the private sector to unlock value from public assets. The goal isn’t just to deliver one project, but to help communities build the internal muscle to replicate success, attract investment and manage future projects independently. Throughout the discussion, speakers reiterated that this grant is about long-term empowerment, not one-time fixes. It’s a federal investment in local self-reliance.
Resources Shared During the Webinar and in Discussion: