Oversight and administration of the programs, tools, and initiatives highlighted above have been carried out by the FHWA and the Build America Bureau. FHWA provides research, training and technical assistance for states interested in exploring and implementing innovative finance and alternative P3 delivery options for highway projects. FHWA currently provides support to the USDOT's Build America Bureau.
The Build America Bureau and FHWA have been instrumental in streamlining the process for states and private developers seeking to navigate the available finance tools and initiatives and varied application and approval processes. Collaboration with the Build America Bureau and FHWA has been vital to sorting through a host of complex issues in developing P3 projects-particularly from a funding and financing perspective. When Caltrans was formulating the financial plan for the Presidio Parkway, it wanted to pursue use of FAHP grant funds as a revenue source for availability payments. However, the finance plan for the project also included TIFIA, which must be repaid from non-federal sources. Further complicating matters was the difficulty in determining the portion of the long-term availability payment that could qualify for FAHP funds. FHWA coordinated efforts to evaluate federal regulatory and policy issues and worked with Caltrans to sort through the funding issues to develop a solution that became the first FAHP-funded availability payment transaction.
Further, FHWA has developed tools and primers designed to increase public-sector understanding of the complexities of the P3 delivery approach and support better informed decision-making when contemplating whether a P3 option may be appropriate for a particular project. A suite of educational materials, referred to as the P3 Toolkit is available on the FHWA website.