The Bipartisan Infrastructure Law of 2021 (BIL) has allocated $1.5 billion for the Department of Transportation's (DOT) Local and Regional Project Assistance Program Grants, known as the RAISE Grants program. This Notice of Funding Opportunity (NOFO) invites applications for projects with a significant local or regional impact. The BIL mandates that at least five percent of funds be dedicated to the planning, preparation, or design of eligible projects, amounting to $75 million.
Funds for the FY 2024 RAISE Transportation program will be awarded competitively, with no less than 50 percent allocated to rural areas (population ≤ 200,000) and 50 percent to urbanized areas (population > 200,000). Additionally, no more than 15 percent of funds (or $225 million) can be awarded to projects in a single state. The BIL emphasizes equitable geographic distribution, a balance between urban and rural needs, and investment in various transportation modes. FY 2024 RAISE funds must be obligated by September 30, 2028, and expended by September 30, 2033, with no waiver available for these deadlines.
Up to 20 percent of funds (or $300 million) can be used for subsidy and administrative costs for projects receiving credit assistance under the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA). Prior RAISE, BUILD, or TIGER Discretionary Grant recipients may apply for additional funding, demonstrating the successful progression of previously funded phases. Each RAISE Transportation Discretionary Grant is expected to be administered by the relevant modal administration. Grant sizes range from $5 million to $25 million, with a minimum of $1 million for projects in rural areas and no minimum for planning projects.
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