Regional Infrastructure Accelerators (RIA) Demonstration Program.

The Build America Bureau, U.S. Department of Transportation (DOT) has issued a Notice of funding opportunity (NOFO) for the Regional Infrastructure Accelerators (RIA) Demonstration Program.

The Fixing America's Surface Transportation (FAST) Act, enacted in December 2015, authorized the establishment of a Regional Infrastructure Accelerators Demonstration Program (the Program) to assist entities in developing improved infrastructure priorities and financing strategies for the accelerated development of a project that is eligible for funding under the Transportation Infrastructure Finance and Innovation Act (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.

The Build America Bureau (Bureau) is issuing this NOFO to implement the Program and solicit applications for designating and funding Regional Infrastructure Accelerators (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 expedite the delivery of eligible projects through the TIFIA credit program and, to the extent applicable, the Railroad Rehabilitation and Improvement Financing (RRIF) credit program, Private Activity Bonds (PABs) and other innovative financing methods.