Award of $770,000.00 with the objective to facilitate and evaluate public-private partnerships in which the private sector partner could assume a greater role in project planning, development,…

The U.S. Department of Transportation, through its Asset Concessions and Innovative Finance Assistance program (CFDA 20.945), awarded a $770,000 cooperative agreement to the City of Roanoke, Virginia. The purpose of this award is to facilitate and evaluate public-private partnerships in which the private sector could assume a greater role in transportation infrastructure project planning, development, financing, construction, maintenance, and operation. The funding will be used to provide the city with access to expert services to build organizational capacity for identifying and implementing innovative financing strategies, asset concessions, and transit-oriented development on city-owned real estate parcels. The anticipated products and deliverables include an asset concession report, quarterly progress reports, and other project-related deliverables intended to benefit the residents and commuters of Roanoke. The performance period for this cooperative agreement is from January 6, 2025 to January 5, 2028.

Activities

Innovative finance and asset concession capacity building to support transit-oriented development with city owned real estate parcels. Deliverables/expected outcomes: asset concession report, quarterly reports, and deliverables.

Intended beneficiaries

Residents and commuters of roanoke.