Funding Freight Infrastructure Projects is Aim of New Cooperative Agreement
The American Association of Port Authorities announced Oct. 14 that it has signed a “first-of-its-kind cooperative agreement” with the U.S. Maritime Administration to develop a toolkit for use by port authorities looking to attract public and/or private capital to fund infrastructure projects. “With extraordinarily tight federal and state budgets, and government programs which typically favor transportation projects that move people rather than cargo, port authorities will benefit from having what amounts to a reference manual that details how to successfully attract public-private partnerships, apply for grants and other assistance,” said AAPA President and CEO Kurt Nagle.
For example, an AAPA press release states, the toolkit will include guidance on getting freight-related infrastructure projects into municipal planning organization and state transportation improvement plans to compete for transportation formula funding, better positioning port projects for federal funding such as TIGER (Transportation Infrastructure Generating Economic Recovery) and similar discretionary grants, and obtaining private-sector funding. Topics such as writing grant applications and analyzing a project’s economic benefits will be covered, and referrals, references and examples of best practices will be provided.