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Tag Archives: TIFIA

House Transportation & Infrastructure Committee’s Panel on Public-Private Partnerships Release Recommendations

Posted in Policy, PPPs

On September 17, the House Transportation & Infrastructure Committee’s Panel on Public-Private Partnerships (P3s) released its report and recommendations.  The group, empaneled in February of this year, was tasked with examining “issues regarding public-private partnerships across all aspects of the Committee’s jurisdiction.”  The panel held two hearings and seven roundtable discussions in addition to other… Continue Reading

Florida Department of Transportation Reaches Commercial and Financial Close on I-4 Ultimate Project

Posted in PPPs, Tollroads/ Turnpikes/ Managed Lanes

The Florida Department of Transportation reached commercial and financial close on the I-4 Ultimate Project in the urban Orlando area.  The $2.3 billion deal is the third transportation P3 project in Florida developed through an availability payment structure, and is the largest availability payment transaction ever undertaken in the United States. FDOT entered into an… Continue Reading

Port of Miami Tunnel Open for Traffic

Posted in PPPs, Tunnels

On August 3, 2014, the Florida Department of Transportation (FDOT) and the Port of Miami achieved an important milestone when the est. $1 billion Port of Miami Tunnel opened for traffic.  The project consists of twin tunnels under Biscayne Bay linking Port facilities on Dodge Island with a widened MacArthur Causeway and I-395.  One of… Continue Reading

EPA Won’t Require Formal Rulemaking for WIFIA Program

Posted in PPPs

During the “Use of WIFIA” breakout session at the NCPPP P3 Connect conference this week in Denver, Elizabeth Corr, Associate Division Director for the EPA, confirmed that the agency will not need to complete the formal federal rulemaking process to implement the Water Infrastructure Finance and Innovation Act.  The Act, or WIFIA, was recently enacted… Continue Reading

The Maryland “Purple Line” Transit Project Releases its Final Request for Proposals

Posted in Design-Build, PPPs, Rail and Transit

On July 28, 2014, the Maryland Transit Administration (MTA) and Maryland Department of Transportation (MDOT) issued the final request for proposals for a public-private partnership to design, build, finance, operate and maintain the “Purple Line” light rail transit project using an availability payment approach.  The Purple Line is a 16-mile route extending from New Carrollton… Continue Reading

Congress Passes WIFIA Pilot Program

Posted in Financing

Following the 412-4 vote in the U.S. House on Tuesday and the 91-7 vote in the U.S. Senate yesterday, the president is expected to quickly sign into the law the Water Resources and Reform Development Act of 2014 (WRRDA).  In addition to $12.3 billion earmarked for 8 current and 34 new water projects, a key… Continue Reading

USDOT Official Comments on P3s

Posted in PPPs

Victor Mendez, Acting Deputy Secretary at the U.S. Department of Transportation, participated this morning in a Bloomberg Government panel entitled “America on the Move: Investing in U.S. Infrastructure.” In a wide-ranging discussion, he addressed the issue of long-term funding for U.S. infrastructure. He commented that there is a need for many funding options and we… Continue Reading

Tappan Zee Receives $1.6 Billion TIFIA Loan

Posted in Bridges

The New York State Thruway Authority has received federal approval of a 35-year low interest loan for the $4.8 billion Tappan Zee bridge replacement project through the federal government’s Transportation Infrastructure Finance and Innovation Act (“TIFIA”).  As previously reported, the Authority originally applied for credit assistance for up to 49% of eligible project costs under the… Continue Reading

How To Fix RRIF (If Congress Wanted To)

Posted in Rail and Transit

Last week I attended an invitation only round table organized by Karen Hedlund, Deputy Administrator for the Federal Railroad Administration.  The round table was held in conjunction with the High Speed Rail Conference held at LA Metro’s headquarters in Los Angeles, California.  With the House T&I Committee expected to begin marking up a rail bill,… Continue Reading

TIFIA Joint Program Office to Move?

Posted in Policy

In addition to taking testimony from public agency project sponsors and industry leaders during the July 24, 2013 oversight hearing on TIFIA conducted by the Senate Committee on Environment and Public Works, the Committee heard from the Secretary of Transportation, Anthony Foxx, regarding the U.S. Department of Transportation’s (“USDOT”) implementation of the TIFIA Program since… Continue Reading

Senate Committee on Environment and Public Works Holds Oversight Hearing on TIFIA, Nossaman Partner Testifies

Posted in Policy

Showing concern for the TIFIA JPO’s slow pace of credit approvals for major US transportation, on July 24, 2013, the Senate Committee on Environment and Public Works conducted an oversight hearing on the implementation of the TIFIA Program following MAP 21’s expansion of the program almost a year ago.  We are aware of only one… Continue Reading

FHWA Holds P3 Model Contract “Listening Sessions” and Beta-tests “P-3 VALUE Toolkit”

Posted in PPPs

As part of its effort to meet MAP-21’s legislative requirement to develop “standard public-private partnership transaction model contracts for the most popular types of public-private partnerships,” the Federal Highway Administration held a “listening session” with representatives from the transportation industry at the U.S. Department of Transportation in Washington D.C. on January 16.  Representatives from state… Continue Reading

Surface Transportation Reauthorization Ushers in Significant Changes to TIFIA

Posted in Financing

On June 29, 2012 Congress passed the Moving Ahead for Progress in the 21st Century Act (MAP-21), a compromise measure to reauthorize transportation funding through the end of 2014.  A bipartisan and bicameral measure, MAP-21 contains meaningful reforms that, although marred by some missed opportunities, collectively represent a significant improvement in federal surface transportation law…. Continue Reading

U.S. Department of Transportation Announces Fourth Round of TIGER Discretionary Grants

Posted in Financing

The U.S. Department of Transportation (USDOT) announced a much-anticipated fourth round of funding for USDOT’s popular TIGER Discretionary Grants program, totalling $500 million for capital investments in surface transportation infrastructure. Pre-applications must be submitted by Feb. 20, 2012 and final applications must be submitted by March 19, 2012.  Previous rounds of competitive TIGER grants were… Continue Reading

Will there be a TIFIA Loan for Your Project in 2012? Letters of Interest Are at 12 Times Availability

Posted in Financing

On Nov. 3, 2011 the TIFIA Joint Program Office announced availability of limited funding for TIFIA credit assistance for fiscal year 2012 and invited submission of letters of interest (LOIs) by Dec. 30, 2011.  While we are aware of no official announcement, sources inform us that the TIFIA JPO received LOIs from 26 project sponsors… Continue Reading

USDOT Announces TIGER III Grantees

Posted in Financing

This morning, U.S. Department of Transportation (USDOT) Secretary Ray LaHood announced the winners of the extremely competitive TIGER III grant application cycle.  Forty-six projects in 33 states will share $511 million in grant funds.  The announcement was made several months earlier than the originally scheduled date. As has been the case with the previous two… Continue Reading

Big Changes Proposed for TIFIA

Posted in Financing, Legislation

Moving Ahead for Progress in the 21st Century (MAP-21), the draft reauthorization bill unanimously voted out of the Senate Environment and Public Works Committee, contains major improvements to the TIFIA program that many, including those of us at Nossaman, have been advocating.  These changes, if enacted, will greatly expand availability and eliminate much of the… Continue Reading

TIFIA Office Hiring Lead Negotiator and Financial Analyst

Posted in Job Opening

USDOT’s TIFIA Office is hiring a new lead negotiator/financial policy advisor and a financial analyst.  Both positions are based in Washington, DC, and applications are due September 21st.  The ideal candidate for the lead negotiator position will be a senior finance expert who has negotiated transportation finance and/or infrastructure project finance credit agreements as practiced in… Continue Reading

FHWA Extends TIFIA LOI Deadline; Tolling/Pricing Counts Toward “Sustainability”

Posted in Financing, Policy

FHWA has extended the deadline for FY2011 TIFIA Letters of Interest (LOI) to March 1, 2011. The previous Notice of Funding Availability (NOFA), issued on January 19, had allowed less than a month for interested applicants to prepare and submit LOIs. The January 25 revised NOFA included a new phrase addressing the role of tolling and… Continue Reading