A strategic partnership to enhance innovative delivery and finance infrastructure improvements will focus on Kansas City’s more than $15bn network of projects designed to improve mobility, connectivity, safety and equity throughout the region.
The partners will “explore opportunities for innovative project planning, procurement, financing, and delivery”.
The arrangement will seek to draw on a variety of low-interest rate financing methods, including TIFIA loans, private activity bonds (PABs) and Railroad Rehabilitation and Improvement Financing (RRIF).
“Together, we will advance these critical projects in innovative and sustainable ways so we can ensure the continued mobility and economic health of this thriving community,” said BAB executive director, Morteza Farajian.
“This department is always ready to partner with cities to help realize their unique visions for safer, cleaner, more modern transportation,” added US Transportation Secretary Pete Buttigieg.