The Biden administration has awarded roughly $372 million to replace a “functionally obsolete and structurally deficient” bridge on Cape Cod, the president and transportation secretary announced Thursday.

The funding announcement affirms what three federal lawmakers representing Massachusetts said last month — that the U.S. Department of Transportation approved an application from the state and U.S. Army Corp of Engineers for that amount to start replacing the 90-year-old Sagamore Bridge.

“With this announcement, we are advancing projects so large, complex and ambitious that they could not get funded under the infrastructure programs that existed prior to the Biden Administration,” U.S. Transportation Secretary Pete Buttigieg said in a statement.

He went on to describe the Sagamore Bridge and 36 other selected applicants as “truly transformative projects that will change entire regions and our entire country for the better.”

“The project will bring the bridge into a state of good repair by restoring and modernizing the nearly 90-year-old Sagamore Bridge that is considered functionally obsolete and structurally deficient,” the federal statement said.

It includes design and construction of the bridge and approaches, improvements to local roadway connections, and major utility relocation, a project description states.

The federal funding is primarily for the Sagamore Bridge, but some dollars can be used to lay the groundwork for replacement of the 90-year-old Bourne Bridge, a spokesperson for Gov. Maura Healey told the Herald Thursday.

The two bridges are the only roadways leading onto Cape Cod, and a March 2020 report from the U.S. Army Corp of Engineers found the “most cost-effective” means of providing safe and reliable crossings would be providing two new highway bridges.

State and federal lawmakers have long sought federal funding to replace the outdated structures. Healey described the money as a “huge win” for Massachusetts when it was announced last month, at which time USDOT had notified the state’s federal delegation of the grant approval.

“It’s awesome,” state Rep. Mathew Muratore told the Herald. “I cover Plymouth and we’re the last exit off of Route 3 to that Sagamore Bridge so we’ve been advocating that for some time now, and glad to hear that funding is becoming available.”

The Republican lawmaker described the strategy of working on one bridge at a time as “smart,” and said targeting the Sagamore Bridge first “makes a lot of sense.”

State Rep. Dylan Fernandes, a Falmouth Democrat running for state Senate, said the official funding announcement was “welcome news for the 300,000 people of the Cape and Islands who rely on the bridges as their lifeline.”

“We’ve long known that the bridges are functionally obsolete and anyone who drives on them knows how tight they are and how people are often white-knuckling the steering wheel as they’re driving over them,” he told the Herald.

Fernandes said the region has outgrown the bridges, noting that not only are they backed up in the summertime, but year-round due to roughly half of the Cape workforce coming from off the Cape.

He also expressed optimism that the latest funding was an indicator of a larger $1 billion federal bridge grant that will “come through next.”

U.S. Sen. Ed Markey said in an emailed statement that he was “proud to have worked to secure funding for the bridges.”

“The $372 million grant for the Cape Cod bridges project will bring critical economic, social, public safety, and environmental benefits for Cape Cod, the Islands, and every corner of our Commonwealth,” Markey said. “This investment is one more example of the Biden administration’s Bipartisan Infrastructure Law delivering real changes and real results for Massachusetts and our nation.”

The Healey administration last year applied for $1.45 billion in federal funding to replace the two Cape Cod bridges.

Officials have estimated the cost to replace both bridges at up to $4.5 billion.

Herald reporter Chris Van Buskirk contributed to this report.