As part of the Bridge Investment Program, passed under the umbrella of the Bipartisan Infrastructure Law, the US DOT’s Federal Highway Administration has begun calling for applications through a Notice of Funding Opportunity. The program will focus on the rehabilitation, repair, and replacement of the country’s existing bridges.
The Bridge Investment Program provides $12.5 billion over five years, with nearly $2.4 billion available in Fiscal Year 2022. The grant is in addition to the $27 billion bridge funding under the Bridge Formula Program.
As reported by the US DOT, the Bridge Investment Program funding is unique in three key areas because it:
Allows multi-year grant agreements to fund large projects by making it possible to take a project through pre-construction activities and into construction.
Offers grants that help fund the planning process, including planning, feasibility analysis and revenue forecasting associated with the development of a project that would subsequently be eligible to apply for the Bridge Investment Program.
Offers two types of construction grants, covering “large” projects over $100 million and “bridge projects” at up to $100 million.
