The Build America Bureau (BAB) released its second and final Notice of Funding Opportunity (NOFO) for the Innovative Finance and Asset Concession (IFAC) grant program in August. The program will award up to $45.98 million in technical assistance grants to public agencies considering asset concession projects or programs to enhance existing public assets. The new NOFO comes less than a year after the BAB awarded the first round of grants under the IFAC program, which was created by the Infrastructure Investment and Jobs Act (IIJA).
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