U.S. Transportation Secretary Anthony Foxx announced that
Martin Klepper will be the first executive director of the department's Build America Bureau, which handles USDOT credit and grant programs and provides technical assistance to project planning, financing and delivery.
The announcement said Klepper comes to the USDOT from the international law firm Skadden, Arps, Slate, Meagher & Flom, where he has been a senior partner in the Energy and Infrastructure Projects Group. While there, it said, "he is known for developing, financing, acquiring and selling transportation, energy and other large infrastructure projects in the United States and abroad."
Over his career, the announcement continued, Klepper has closed more than 100 major transactions totaling more than $20 billion, has worked with federal and state governments on energy and infrastructure financing matters, and worked with banks, underwriters, equity investors, multilateral lenders and export credit agencies in various capacities.
"We are pleased to have someone with Martin's significant experience and expertise at the helm of the Bureau," said Secretary Foxx. "Under his leadership, the Bureau will be a driving force in financing transportation projects across the country."
The bureau oversees such financing programs as the USDOT's long-term, low-interest loans under its Transportation Infrastructure Finance and Innovation Act program, which lends to qualified transportation projects with a reliable repayment stream. The bureau's role includes helping state and local governments develop and finance public-private partnership transactions for transportation facilities.
Besides TIFIA, the bureau handles the Railroad Rehabilitation & Improvement Financing loans, the department's private activity bond program, the new annual freight-related grants under the FAST Act, plus outreach and project development functions.