The Biden Administration will invest nearly $1 billion in grants through the Rebuilding American Infrastructure with Sustainability and Equity program, which was flooded with interest last week as municipalities clamored for funds. Grants have been awarded to 90 projects across 47 states, the District of Columbia and Guam, according to US Secretary of Transportation Pete Buttigieg. 

Selection criteria for the grants included environmental sustainability, quality of life, economic competitiveness, state of good repair, innovation, and partnerships with a broad range of stakeholders, according to DOT.

"We're proud to support these great projects that will improve infrastructure, strengthen supply chains, make us safer, advance equity, and combat climate change," Buttigieg said. "As in past years, we received far more applications than we could fund: this cycle saw about a ten-to-one ratio of requests to available dollars. But going forward, with the passage of President Biden's bipartisan Infrastructure Law, we will be able to support far more infrastructure projects to support jobs and everyday life in communities across the country."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.