Award of $2,000,000.00 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's Immediate Office of the Secretary awarded a $2,000,000 Cooperative Agreement under the Asset Concessions and Innovative Finance Assistance program (CFDA 20.945) to the Rhode Island Public Transit Authority (RIPTA). The purpose of this award is to facilitate and evaluate public-private partnerships where the private sector could take on a greater role in planning, developing, financing, constructing, maintaining, and operating transportation infrastructure. Specifically, the funding will support RIPTA's Providence Transit Center P3 Joint Development Project, with key deliverables including an asset concession report, quarterly reports, and other project-related outcomes. The award period runs from February 10, 2025 to February 9, 2028.

Activities

Providence transit center P3 joint development project. Deliverables/expected outcomes: asset concession report, quarterly reports, and deliverables.

Intended beneficiaries

Residents and commuters of providence, RI, ripta.