The U.S. Department of Transportation (DOT) has initiated the process for awarding a new round of transportation grants, totalling $1.5 billion, under the RAISE program, which stands for Rebuilding American Infrastructure with Sustainability and Equity. Applications for this round of RAISE funds are being accepted until February 28, 2024.
Steep Competition Anticipated
The RAISE Discretionary Grant Program typically receives more applications than can be funded in any given cycle, and “provides a unique opportunity for the DOT to invest in road, rail, transit and port projects that promise to…have a significant local or regional impact.” Unlike other funding allocations from the DOT, RAISE funding awards:
Allow project sponsors at the State and local levels to obtain funding for multi-modal, multi-jurisdictional projects that are more difficult to support through traditional DOT programs. RAISE can provide funding directly to any public entity, including municipalities, counties, port authorities, tribal governments, MPOs, or others….This flexibility allows RAISE and our traditional partners at the State and local levels to work directly with a host of entities that own, operate, and maintain much of our transportation infrastructure, but otherwise cannot turn to the Federal government for support.
Examples of RAISE projects around the country that were funded in the previous award cycle include:
- $24 million to build a Downtown Center in New Orleans for the city’s bus and streetcar network and a focus on improving dangerous roads with a history of pedestrian related crashes.
- $23.7 million to create 13 miles of new active transportation infrastructure, consisting of 10-foot multi-use trails and 10-foot side paths in the city of Russellville, Arkansas
- $5 million to Anaheim to construct five high-impact and high-visibility active transportation connections to the regional rail/bus transit center…and build an elevated “highline” trail, while also transforming an engineered riverbank to separate high-speed bicycle and pedestrian traffic;
- $19 million in grants to the LINK Trail in Camden County, N.J., which is a spine trail for the 850-mile Circuit Trails network in greater Philadelphia and southern New Jersey;
- $16.1 million for the Puget Sound to Pacific initiative to connect the Olympic Discovery Trail across Washington’s rural Olympic Peninsula.
Builders aiming to catch some of the local action related to RAISE can check out this breakdown of 2023 projects. Of course it will also be helpful to stay abreast of the RAISE application process for 2024. Be ready–and competitive–for new builds coming to your region by qualifying for The Partnership Account® from Colonial Surety Company. Once qualified, builders across the country can count on speedy and easy bid,performance and payment bonds, plus:
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