US Transportation Secretary Anthony Foxx announced today that the US Department of Transportation (DOT) has established the Build America Bureau, which will drive transportation infrastructure development projects in the United States by streamlining credit and grant opportunities while providing technical assistance and encouraging innovative best practices in project planning, financing, delivery, and monitoring.
The Build America Bureau combines the following DOT programs: the Transportation Infrastructure Finance and Innovation Act (TIFIA), the Railroad Rehabilitation & Improvement Financing (RRIF), the private activity bond (PAB), the Build America Transportation Investment Center (BATIC), and the new $800 million Fostering Advancements in Shipping and Transportation for the Long-term Achievement of National Efficiencies (FASTLANE) grant program.
The Bureau will utilize the full resources of all the modes within DOT, and continue to promote a culture of innovation and customer service. To the customer, there will be a single entity in charge of DOT credit, large scale, and intermodal project development, and a single point of contact for working with DOT on infrastructure finance and development.
“The Build America Bureau will be a one-stop shop to help develop projects and provide financing in a single streamlined, effective, and comprehensive manner,” said Secretary Foxx. “It will allow DOT to be responsive to America’s changing transportation needs and opportunities, so we can deliver real, tangible infrastructure development for local, regional, and national population centers.”