$1,000,000.00 awarded for innovative finance and asset concession (ifac) to philadelphia regional port authority

The Department of Transportation's Immediate Office of the Secretary awarded a $1 million Cooperative Agreement to Philadelphia Regional Port Authority on November 2, 2026, under the Asset Concessions and Innovative Finance Assistance program (CFDA 20.945) to advance development of the Southport/Mustin site in Philadelphia, the region's last available deepwater port land with direct rail and highway connectivity.

The recipient will undertake integrated feasibility and advisory services including revenue forecasting, demand and economic impact assessments, lifecycle cost analysis, value-for-money evaluation, and full business case development. Work will also encompass assessment of financing and funding structures, procurement and delivery alternatives, and transaction support for potential asset concessions to enable optimal public benefit and long-term port competitiveness. Deliverables include a work plan, quarterly reports, project deliverables, and compliance with 2 CFR 200. The beneficiaries are the Southport/Mustin site and supply chain and intermodal operators.

Performance occurs in Pennsylvania. The period of performance runs from the award date through November 1, 2029. The full $1 million obligated amount is available under this award.

Activities to be performed: advance development of the southport/mustin site in philadelphia, the region?s last available deepwater port land with direct rail and highway connectivity, by undertaking integrated feasibility and advisory services including revenue forecasting, demand and economic impact assessments, lifecycle cost analysis, value-for-money evaluation, and full business case development, alongside assessment of financing and funding structures, procurement and delivery alternatives, and transaction support for potential asset concessions to enable optimal public benefit and long-term port competitiveness. Deliverables/expected outcomes: work plan, quarterly reports, project deliverables and 2 CFR 200 compliance. Beneficiaries: the southport/mustin site, and supply chain and intermodal operators.