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The Michigan Innovative Financing Asset Scan for Transportation (MI-FAST) is an exploratory study that will analyze lifecycle costs of needed Michigan transportation projects and estimate the benefits of new revenue to accelerate those projects.
Learn more about MI-FAST.
MI-FAST (Michigan Innovative Finance Asset Scan for Transportation) is an exploratory study led by MDOT that looks at the lifecycle costs of needed Michigan transportation projects and estimates the benefits of new revenue to accelerate those projects. Ultimately, MI-FAST will help educate decision-makers and the public on the benefits of adequate long-term and sustainable transportation funding.
The study reviewed 235 projects from across all seven MDOT regions. Of those, up to 12 candidate projects will be selected for evaluation of cost, community priorities and other feasibility factors.
Projects included highways, bridges, rail and other major transportation assets. Candidate projects were selected from MDOT’s Five-Year Transportation Program, unfunded needs lists, stakeholder engagement and ongoing studies.
The MI-FAST Study team is coordinating closely with MDOT Region staff with local project background knowledge and context as part of the analysis of the 12 candidate projects. The candidate projects included in MI-FAST are unfunded and, as such, are not scheduled for design and/or construction at this time.
Breakdown of three-tier screening process.
Passed Tier 1
Baseline considerations - Meets base grant criteria, supported by MDOT, needs extensive repair or replacement
Social benefits - Improves safety, improves local economy, potential to improve traffic and congestion and strong public or stakeholder interest
Grant-specific considerations - New revenue potential, acceleration benefits and opportunities for private sector collaboration
Of the 235 projects, 211 had preliminary cost estimates totaling $22.6 billion in unfunded needs.
MI-FAST does not provide funding for project construction. Instead, it studies options, identifies opportunities for new funding or partnerships, and develops tools to help MDOT draw attention to unfunded projects across Michigan.
There are critical MDOT projects around Michigan that could improve asset condition and safety if adequate funding was available. MI-FAST will explore innovative delivery options that could be applied to accelerate needed projects.
The USDOT Build America Bureau is the grant sponsor. MDOT is the program sponsor and grant recipient, supported by the Michigan Infrastructure Office. HNTB serves as technical advisor while another consultant serves as financial advisor.
MI-FAST is not a replacement for transportation planning efforts. It builds on existing statewide, regional and project-specific transportation plans by adding a financial and delivery lens. In other words, MI-FAST utilizes the priorities already identified in current MDOT plans and studies to determine how projects could be delivered sooner or through new approaches.
MDOT will share updates on the MI-FAST study and gather feedback on candidate projects through this study website. Throughout the study, community members are encouraged to provide feedback through MDOT’s Public Involvement Management Application (PIMA) form linked on this website. Individuals can also subscribe for study updates through PIMA.
