$995,000.00 awarded for innovative finance and asset concession (ifac) to township of lower merion

The Department of Transportation awarded a $995,000 cooperative agreement to Township of Lower Merion on November 2, 2026, under the Asset Concessions and Innovative Finance Assistance program (CFDA 20.945).

The township will assess station modernization and transit-oriented development opportunities while strengthening public-sector oversight, transparency policies, and institutional structures. Work includes joint project development scoping alongside high-level financial analysis and project pro forma evaluation; design and structure of public-private partnerships and financing tools; and establishment of clear, accessible channels for potentially impacted communities to raise concerns and meaningfully influence infrastructure decision-making throughout planning and implementation. Deliverables include a work plan, quarterly reports, project deliverables, and 2 CFR 200 compliance documentation.

Performance takes place in Pennsylvania and runs through November 1, 2029. The program objective is to facilitate access to expert services and provide grants to eligible applicants to evaluate public-private partnerships, including asset concessions, and to explore opportunities for private sector partners to assume a greater role in project planning, development, financing, construction, maintenance, and operation of transportation assets. The program targets states, Tribal governments, units of local government, and public authorities that own, control, or maintain transportation facilities and are authorized to enter into contracts transferring ownership, revenues, maintenance, or other benefits associated with eligible transportation assets.

The township's beneficiaries include internal institutional capacity, Amtrak commuters, and pedestrians.

Activities to be performed: assess station modernization and transit-oriented development while strengthening public-sector oversight, transparency policies, and institutional structures; conduct joint project development scoping alongside high-level financial analysis and project pro forma evaluation; design and structure public?private partnerships and financing tools; and establish clear, accessible channels for potentially impacted communities to raise concerns and meaningfully influence infrastructure decision-making throughout planning and implementation. Deliverables/expected outcomes: work plan, quarterly reports, project deliverables and 2 CFR 200 compliance. Beneficiaries: internal institutional capacity, amtrak?s commuters and pedestrian.