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The UNITED STATE Department of Transportation (DOT) today revealed a Notice of Funding Opportunity (NOFO) to request $225 million in optional give financing via the Port Infrastructure Development Program (PIDP).
“America’s ports are a critical part of the Nation’s multimodal transportation network and this Notice of Funding Opportunity provides guidance on how to apply for these grants,” stated UNITED STATE Transportation Secretary Elaine L. Chao.
The Port Infrastructure Development Program sustains UNITED STATE ports by enhancing the security, performance, or dependability of products activity right into, out of, or within a port. Investments in port framework will certainly be granted on an affordable basis for tasks within or beyond and also straight pertaining to procedures of seaside ports, inland river ports, and also Great Lakes ports.
The Further Consolidated Appropriations Act of 2020 provided $225 million for the Port Infrastructure Development Program, with $200 million booked for gives to seaside ports and also Great Lakes ports. The minimal honor dimension is $1 million, with a government expense share not to surpass 80 percent.
There is no ask for financing for the program in the FY 2021 Maritime Administration spending plan demand.
“Infrastructure improvement must include our nation’s economic gateways – our ports – and the roads and railways that connect them to the local and national economy,” stated Maritime Administrator Mark H. Buzby.
The division will certainly review tasks making use of requirements that include impact on the activity of products, utilize of government financing, web advantages, task preparedness, and also residential choice. The Department will certainly additionally take into consideration geographical variety when choosing give receivers, along with just how the task addresses tests encountered by backwoods and also whether the task lies in an Opportunity Zone.
The Further Consolidated Appropriations Act of 2020 provided $225 million for the Port Infrastructure Development Program, with $200 million booked for gives to seaside ports and also Great Lakes ports. The minimal honor dimension is $1 million, with a government expense share not to surpass 80 percent.
To offer technological help, DOT will certainly hold a collection of webinars throughout the Port Infrastructure Development Program give application procedure. Details and also enrollment info concerning these webinars will certainly be provided HERE
The target date to send an application for the Port Infrastructure Development Program is 8 p.m. EDT May 18, 2020.
More info HERE
