Dude, Where’s My Infrastructure Funding?

Ever since both 2016 presidential candidates made infrastructure investment a core component of each of their platforms, we have been waiting for a significant infusion of federal funds to modernize our aging bridges, highways, and transit systems. One of the few remaining bipartisan issues, members of both political parties had high hopes that a large infrastructure bill would be possible. While this has yet to materialize, the Senate, House, and Administration have all taken steps to advance the ball. But with the current transportation law—the Fixing America’s Surface ...

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Tags: Finance

The Federal Transit Administration (FTA) has announced (as of last month) the Accelerating Innovative Mobility (AIM) initiative to encourage and advance innovation in the transit sector.  AIM will provide a total of $11 million in challenge grants to transit agencies experimenting with innovative ways of doing business, such as exploring new service delivery models, creative financing, novel partnerships and integrated payment.  As part of the AIM initiative, FTA’s Fiscal Year 2020 competitive grant programs, totaling $615 million, will highlight innovation as part of ...

Rhode Island is trying to put the brakes on a federal lawsuit brought by the trucking industry that could steer the state’s truck toll system into a ditch.  The outcome could create speed bumps for transportation agencies considering deployment of innovative congestion management tools.

In 2016 the Rhode Island General Assembly passed the Rhode Island Bridge Replacement, Reconstruction, and Maintenance Fund Act of 2016 (“RhodeWorks Act”) to fill a funding gap between revenue needed to maintain the state’s bridges in sound condition and the state’s revenue sources.  The ...

Posted in Financing

Last week I attended the Transportation Research Board Annual Meeting in Washington, D.C.  During my Revenue and Finance Committee meeting we heard a presentation from Roger Bohnert, Director of Outreach and Development, for the Build America Bureau.  Among several priorities for the TIFIA Program, the low cost federal credit program for transportation projects, Mr. Bohnert described the Rural Projects Initiative, or “RPI,” which is designed to encourage more utilization of the TIFIA Program for projects in communities with a population of less than 150,000 (based on the ...

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Tags: TIFIA

The University of Iowa has entered into a 50-year utility public-private partnership (P3), engaging a private partner to operate, maintain, optimize, and improve the University’s existing utility system and help the University transition to coal-free energy production by 2024. ENGIE North America and Meridiam will serve as the University’s private partner. According to the University, the deal represents one of the first utility P3s entered into by any university in the country.  

Under this 50-year P3 agreement, the University’s private partner will provide steam ...

Watch out Silicon Valley, Sacramento is gearing up to launch a research center and prototype lab focused on developing electric and autonomous vehicle technologies.  The California Mobility Center is largely funded by the Sacramento Municipal Utility District and supported by a band of public and private partners, including the City of Sacramento, Greater Sacramento Economic Council, Los Rios Community College District, University of California Davis, California State University Sacramento, PEM Motion, and Valley Vision Inc.  EnerTech of Toronto will be managing the ...

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New Mobility Public-Private Partnerships May Address Transportation Gaps in the Future

A few weeks ago, I had the privilege of again attending CoMotion LA.  Spearheaded by John Rossant, CoMotion LA brings together leaders and innovators of new solutions to solve the mobility issues of our modern world.  One of the central themes was adopting new mobility solutions to relieve congestion, an increasingly prevalent reality as populations in cities continue to grow.

During the panel on “Financing the Future:  Public-Private Partnering for New Mobility Solutions,” a panel comprised of representatives from the Canadian electric school bus manufacturer Lion Electric ...

Posted in Financing

Nossaman attorneys Yuliya Oryol, Peter Mixon and Allan Ickowitz provided feedback and comments on drafts of Bridging Public Pension Funds and Infrastructure Investing, a white paper co-authored by Clive Lipshitz and Ingo Walter (NYU Stern School of Business).

The paper is a thoughtful evaluation of the sustainability of the largest public pension systems in the United States and the role of infrastructure investing in their portfolios. Lipshitz and Walter argue that infrastructure should become more central to pension portfolios despite the existing challenges for ...

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Posted in P3s

Last December we told you about favorable IRS guidance letting P3 contractors and investors keep full tax deductions for interest on debt.[1] The IRS kept a P3-friendly approach in last week’s proposed regulations on qualified opportunity zones – which, like the interest limitations in our December post, come from the 2017 Tax Cuts and Jobs Act (TCJA).[2]  The qualified opportunity zone legislation promotes a broad range of real estate and business development in distressed areas, and these proposed regulations are particularly helpful to private parties contracting for and ...

Posted in P3s

One of the key events for the P3/infrastructure industry this year will be the P3 Policy and Delivery Summit, which is being held in Washington D.C. on May 14th and 15th. The Summit is taking place during, and in partnership with, Infrastructure Week, and is poised  to attract industry leaders from the private sector and senior officials from federal, state, and local government. The event will be held at the Cosmos Club, a D.C. landmark listed on the National Register of Historic Places.

The Summit’s focus is to analyze the respective roles of federal, state and local government in ...

Nossaman LLP’s 30-plus infrastructure attorneys offer clients, colleagues, strategic partners, and industry media a wealth of practical experience, insider insight, and thoughtful analysis here on Infra Insight. We blog about what we know best, from industry-leading procurements to local and national policy developments that affect the market and our clients.

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