U.S. Transportation Secretary Anthony Foxx has announced the appointment of Martin Klepper as the initial executive director of the U.S. Department of Transportation’s (USDOT) Build America Bureau.
Klepper is currently a senior partner in the Energy and Infrastructure Projects Group at Skadden, Arps, Slate, Meagher & Flom, LLP. At the firm, he is involved in developing, financing, acquiring and selling transportation, energy and other large infrastructure projects in the United States and abroad.
Klepper has worked with both federal and state governments on energy and infrastructure financing matters. He has also worked with banks, underwriters, equity investors, multilateral lenders, and export credit agencies in various capacities. Klepper has closed more than 100 major transactions totaling more than $20 billion in his career.
“We are pleased to have someone with Martin’s significant experience and expertise at the helm of the Bureau,” stated Secretary Foxx. “Under his leadership, the Bureau will be a driving force in financing transportation projects across the country.”
The Bureau is a newly created USDOT entity that streamlines access to federal credit and grant opportunities. It also provides technical assistance to project planning, financing, delivery, and monitoring, as well as helping state and local governments develop and finance public-private partnership transactions (P3’s) for transportation facilities.
The Build America Bureau combines the following DOT programs:
- Transportation Infrastructure Finance and Innovation Act (TIFIA);
- Railroad Rehabilitation & Improvement Financing (RRIF);
- Private Activity Bond (PAB) program;
- Outreach and Project Development functions of the BATIC; and
- Fostering Advancements in Shipping and Transportation for the Long-term Achievement of National Efficiencies (FASTLANE) grant program.