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Michigan Innovative Financing Asset Scan for Transportation (MI-FAST)

A view of U.S. 131 in downtown Grand Rapids from the construction of a 16-story apartment building at Studio Park in downtown Grand Rapids.
Department of Transportation

Michigan Innovative Financing Asset Scan for Transportation (MI-FAST)

Michigan Innovative Financing Asset Scan for Transportation (MI-FAST) logo.

Identifying a feasible path to build the future

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. The study will screen up to 170 unfunded projects, select 12 for detailed evaluation, explore innovative financing and partnership opportunities, and strengthen MDOT’s capacity to assess and deliver major projects. Study funding from the USDOT Innovative Finance and Asset Concession (IFAC) Grant does not reflect a commitment to pursue federal financing and debt.

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Timeline

The timeline reflects study duration and its implementation for the selected candidate project plan. It does not represent the full timeline for completing future projects.

Mid-late 2025

Getting started

Identify potential projects and gather input.

Early-mid 2026

Studying options

Review project ideas, assess feasibility and share updates for feedback.

Late 2026

Early 2027

Building the pipeline

Develop top projects with partners, share updates, and gather feedback.

Mid-LaTe 2027

Finalizing the plan

Review project ideas, assess feasibility and share updates for feedback.

Project locations

Where are the opportunities? MI-FAST will evaluate projects across all seven MDOT regions, spanning rail, roadway, bridges and other key assets. Candidate projects are identified through MDOT’s Five-Year Program, unfunded needs lists and ongoing studies.

Bay Region | Grand Region | Metro Region | North Region | Southwest Region | Superior Region | University Region

 

 

Explore MDOT's regions

Frequently asked questions (FAQs)

US DOT Build America Bureau logo.

USDOT - Build America Bureau

Build America Bureau is the grant sponsor, providing oversight and support through the Innovative Finance and Asset Concession Grant.

The Michigan Department of Transportation (MDOT) logo.

MDOT

MDOT serves as the program sponsor and grant recipient, overseeing the study and advancing Michigan’s transportation priorities.

Michigan Infrastructure Office (MIO) logo.

Michigan Infrastructure Office

Michigan Infrastructure Office (MIO) supports the study as a funding partner, helping advance Michigan’s infrastructure priorities.

HNTB logo

HNTB

HNTB serves as the technical advisor, providing expertise in asset screening, engineering and risk analysis.