ROANOKE, Va. (WFXR) – The U.S. Department of Transportation has awarded the city of Roanoke $50 million from the Build America Bureau’s Innovative Finance and Asset Concession Grant Program (IFACGP).
The $50 million, three-year program will support the city in exploring innovative financing and delivering opportunities for transit-oriented projects on public assets.
Through the IFACGP, the City of Roanoke will be able to evaluate City-owned properties within a half-mile radius of the Amtrak Station.
The main goal is to create a plan for the Roanoke area as a major transit hub as Roanoke is one of the 45 local, regional, and state public units selected for the IFACGP assistance.
“We believe that this program has the potential to be a game-changer for Roanoke, and we are committed to working with the U.S. Department of Transportation to make the most of this opportunity,” said Roanoke’s Director of Economic Development, Marc Nelson.
To learn more about the program click here.