Section 1441 of the FAST Act authorized the establishment of the Regional Infrastructure Accelerators (RIA) demonstration program to assist entities in developing improved infrastructure priorities and financing strategies for the accelerated delivery of a project that is eligible for funding under
the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA) program under Chapter 6 of Title 23, United States Code.
The Further Consolidated Appropriations Act, 2020, enacted on December 20, 2019, appropriated $5 million for this program.
As a part of the implementation plan, the Bureau is issuing this Notice of Funding Opportunity (NOFO) to solicit applications for designating and funding an RIA that will:
1) serve a defined geographic area; 2) act as a resource to qualified entities in the geographic area in accordance with Section 1441 of the FAST Act; and 3) demonstrate the effectiveness of an RIA to accelerate the delivery of eligible projects through the Bureau’s innovative financing programs including the TIFIA credit program, and, to the extent applicable, the Railroad Rehabilitation and Improvement Financing (RRIF) credit program and Private Activity Bonds (PABs) and other innovative financing methods.