To expand state and local government capacity to consider, evaluate, and exercise appropriate stewardship in implementing alternative strategies for funding and financing transportation infrastructure.
The Center for Innovative Finance Support is organized into five teams as shown in the figure below:
The Program Services Team provides the vehicles used to deliver programs and services throughout the office. It is responsible for outreach and awareness, capacity building, research, development Strategic Plan, and financial management of the Center for Innovative Finance Support program funds.
The Strategic Delivery Team focuses broadly on project finance - through targeted research, capacity building and technical assistance for State and local transportation agencies contemplating innovative procurement and revenue generation approaches. Whether considering procurement options such as public-private partnerships (P3s) or revenue generation options such as road pricing, the Team seeks to assist practitioners and decision-makers - especially those for whom these approaches signify a new way of business - to develop plans of finance using replicable concepts reflecting the customs and practices of the industry. The Team also assists these customers to implement Federal-aid project finance programs such as State Infrastructure Banks (SIBs) and Grant Anticipation Revenue Vehicles (GARVEEs). As a key element of its capacity building efforts, the Team works closely with the AASHTO Project Finance Institute to develop training courses on issues important to all State DOTs and their partners.
The Transportation Infrastructure Finance and Innovation Act (TIFIA) Joint Program Office (JPO) provides loans, lines of credit, and loan guarantees to support surface transportation projects of national and regional significance. The TIFIA JPO brings a unique perspective to the IPO Office as it directly partners with States and private entities to advance projects. It also works closely with the financial community to advance these projects, thereby forging important relationships that facilitate the achievement of office-wide objectives.
The Project Delivery Team, formerly known as the Major Projects Team, carries out the agency's legislatively required oversight responsibilities regarding major projects (those with total costs over $500 million). This team is responsible for the oversight of financial and project management plans for major projects. The team is also responsible for completing critical project reviews, conducting cost estimate reviews, managing the agency's specially designated Project Oversight Mangers, and implementing the Major Projects Discipline. Finally, the team manages the delivery and implementation of Strategic Highway Research Program (SHRP2) Project Management Tools: Managing Risk in Rapid Renewal Projects (Renewal Product R-09) and Project Management Strategies for Complex Projects (Renewal Product R-10). The team brings a high level of experience and understanding of the challenges impacting the delivery of major projects.
The Office structure also includes an Office Director who provides overall leadership and a Senior Advisor responsible for strategic planning, Special Experimental Program 15 (SEP-15), and providing overall guidance to office staff and cross-cutting assistance to our partners. The Senior Advisor also undertakes special projects that require a broad, integrated perspective.