The Innovative Finance and Asset Concession (IFAC) Grant Program is a competitive grant program that will award up to $45.98 million to eligible public entities to facilitate and evaluate public-private partnerships and explore opportunities for innovative financing and delivery for eligible transportation infrastructure projects. The program is open to public entities that own, control, or maintain assets that could be developed into enhanced assets. Eligible applicants must submit an application via grants.gov, including information on the existing asset, the TIFIA-eligible project being considered, and the innovative project financing or delivery method being evaluated. • The program will award funding from Fiscal Years 2024, 2025, and 2026. • Eligible assets include highway, transit, passenger rail, certain freight facilities, certain port projects, rural infrastructure projects, airports, and transit-oriented development projects. • The grant program will support technical assistance and expert services to help eligible entities evaluate and develop innovative financing and delivery methods for their assets.