AUSTIN (KXAN) — Earlier this month, Austin City Council approved an authorization for the city to negotiate an agreement with the U.S. Department of Transportation’s Build America Bureau to assist with funding opportunities on future mobility projects.
The Emerging Projects Agreement will allow the USDOT to assist the city and its transit partners — including the Texas Department of Transportation, CapMetro, the Austin Transit Partnership and the Capital Area Metropolitan Planning Organization — in seeking alternative financing opportunities. Those funding resources include USDOT assistance, credit or grant programs, per the release.
Some of the programs that could benefit from the federal partnership include the Our Future 35 Cap and Stitch, the Corridor Mobility and Vision Zero programs, along with Project Connect and the Austin-Bergstrom International Airport 2040 master plan.
“In recent years, Austin and our partners have set into motion transformative mobility and equity projects (over $25 Billion in total) that will fundamentally improve how we move around.” said Austin Mayor Steve Adler in the release. “Over the next 20 years, we will realize the future potential of this ‘golden age of mobility’, but only with the help of the US Department of Transportation. After months of getting together, I am excited that the USDOT is opening the door to helping us make our mobility vision happen.”
The city will collaborate with USDOT on the drafting of its Emerging Projects Agreement, which is expected to be implemented in the spring.