$1,000,000.00 awarded for innovative finance and asset concession (ifac) to utah transit authority

The Department of Transportation awarded Utah Transit Authority a $1 million Cooperative Agreement on September 1, 2026, under the Asset Concessions and Innovative Finance Assistance program (CFDA 20.945) to support development of a mixed-use office building anchoring the Salt Lake Central redevelopment project. UTA will procure financial, legal, technical, environmental, and funding advisory services including financing analysis, financial modeling, partnership and regulatory support, cost and schedule validation, procurement and risk strategy, stakeholder engagement, public-private partnership structuring, environmental compliance, grant and funding strategy development, and project planning and implementation support. The award obligates the full $1 million and runs through August 31, 2029, with performance in Utah. UTA will deliver a work plan, quarterly reports, project deliverables, and maintain 2 CFR 200 compliance. The program funds expert services to enhance UTA's technical capacity to identify underutilized transportation assets and evaluate opportunities for private sector partners to assume a greater role in project planning, development, financing, construction, maintenance, and operation. Benefits accrue to UTA transit riders using bus, light rail (TRAX), commuter rail (FrontRunner), and Utah residents served by the Wasatch Front regional transit system.

Activities to be performed: leverage public and private investment to develop a mixed-use office building that anchors the salt lake central redevelopment project include financial, legal, technical, environmental, and funding advisory services, such as financing analysis, financial modeling, partnership and regulatory support, cost and schedule validation, procurement and risk strategy, stakeholder engagement, public-private partnership structuring, environmental compliance, grant and funding strategy development, and project planning and implementation support. Deliverables/expected outcomes: work plan, quarterly reports, project deliverables and 2 CFR 200 compliance. Beneficiaries: UTA transit rider, bus, light rail (trax), commuter rail (frontrunner) and the utah residents.