Build America Bureau Financial Advisory Services

The U.S. Department of Transportation Immediate Office of the Secretary awarded a Master IDIQ on November 8, 2018 to provide non-personal financial advisory services in transportation infrastructure project finance to the Build America Bureau, with ordering authority closed as of November 6, 2023. The vehicle is no longer active for new task-order placement.

The IDIQ established a $11.25 million shared ceiling. Across its life, 47 task orders totaling $7.4 million in combined potential value have been awarded, with $7 million obligated (95% of potential). Most recent awards occurred in May 2024, but these represented closeouts and deobligations rather than new work; the last substantive order placement occurred in September 2023. Task-order activity peaked in 2021 with 12 orders, declining to 7 orders in 2022, 4 in 2023, and 7 in 2024 (including closeouts).

Awarded work consists exclusively of financial advisory services for specific transportation and infrastructure projects: rail modernization (Hudson Tunnel, BART railcar acquisition, Light Rail Transit projects), airport and port facilities (Los Angeles International Airport Intermodal Transportation Facility, Port of Alaska, Port of Long Beach Gerald Desmond Bridge, Port Everglades), tollway and express-lanes programs (I-64 Hampton Roads, I-25 North, Capital Beltway, SR 400 Express Lanes), and transit modernization (MBTA, Sound Transit, LADOTD group projects). Typical task orders range from approximately $56 thousand to $604 thousand, with most falling in the $100–$250 thousand band. The SR 400 Express Lanes order at $604.445 thousand represents the largest single task order.

Competition concentrates moderately among nine total prime contractors. Greengate LLC holds the largest combined potential value at $2.2 million across 8 orders, followed by PFM Financial Advisors LLC at $1.4 million across 11 orders and Ernst & Young LLP at $1.2 million across 8 orders. These three firms account for roughly 60% of combined potential value. Rebelgroup Americas, Inc. and Fieldman, Rolapp & Associates, Inc. hold $942 thousand and $767 thousand respectively, with a long tail of four additional vendors capturing the remainder.

All 47 task orders carry unrestricted (no set-aside) designations. Customer concentration is absolute: the Build America Bureau within DOT's Office of the Under Secretary for Policy funds 100% of awarded orders. Work is geographically dispersed nationwide, spanning transit and infrastructure projects from California to Florida to Washington State to New York, reflecting the Build America Bureau's role advising on diverse federal infrastructure financing.

The Build America Bureau, an office within the U.S. Department of Transportation, Office of the Under Secretary for Policy, has awarded a Master IDIQ for non-personal financial advisory services in the transportation infrastructure project finance area to support its activities and programs.