On July 19, 2011, the Georgia Department of Transportation issued a press release stating that GDOT was invited to apply for a TIFIA loan in the amount of $270 million for the Northwest Corridor Project – a project to add managed lanes along I-75 and I-575 in the metro Atlanta region with approximately $968 million in capital costs. The press release followed an announcement by Governor Nathan Deal that the procurement of the Northwest Corridor Project will proceed to the next phase through the issuance of a final Request for Proposals. Three consortia – consisting of major national ...
During a July 20, 2011 presentation before the Commonwealth Transportation Board, the Virginia Department of Transportation reported that VDOT reached agreement on major business terms with Elizabeth River Crossings LLC for the design, construction, financing, operations and maintenance of the Midtown Tunnel Project in the Portsmouth and Norfolk area. As a result of this major milestone, VDOT is targeting to reach financial close on the Midtown Tunnel Project by the end of 2011.
The Midtown Tunnel Project will involve the construction of a new two-lane tunnel under the ...
If you want to know what a mature, effective federal and state P3 policy can look like, we need not look very far beyond our U.S. borders. Two Canadian provinces, Ontario and British Columbia, provide us a road map for building successful, sustainable P3 programs and policies.
At the International Bridge Conference in Pittsburgh last month, panelists for a workshop on P3s, including Len Kozachuk with Infrastructure Ontario (IO), described the essential features of this agency and its alternative financing and procurement program. The contrast with how our federal and state policy ...
We all know that our infrastructure is aging. Considering how hot the issue of transportation funding (or lack thereof) has become, it is almost impossible not to see or hear something on this topic daily. That being said, Transportation for America has provided a new way for us to fixate on the state of disrepair of our nation’s bridges – an interactive map.
The map is color-coded and uses green to mark states that are more-or-less maintaining their bridges. A special hats off to Florida and Nevada, which rank 50th and 51st respectively in the list of disrepair. In contrast, the map ...
Posted by guest blogger Ryan J. Orr
A recently published paper analyzes returns on infrastructure investments and produces some rather surprising findings. The paper, Risk, Return and Cash Flow Characteristics of Infrastructure Fund Investments by Florian Bitsch, Axel Buchner, and Christoph Kaserer, examines an extensive dataset of infrastructure and non-infrastructure deals and finds that the data does not back up the conventional wisdom that infrastructure investments offer long-term, stable and predictable, inflation-linked returns with low correlation to other ...
On June 15, House Transportation and Infrastructure Committee Chairman John Mica and Rep. Bill Shuster, Chairman of the Railroads, Pipelines and Hazardous Material Subcommittee, introduced the Competition for Intercity Passenger Rail in America Act.
Chairman Mica said: After 40 years of costly and wasteful Soviet-style operations under Amtrak, this proposal encourages private sector competition, investment and operations in U.S. passenger rail service. The legislation would force Amtrak to sell the Northeast Corridor (NEC) to the U.S. government, establish a committee ...
As discussed in our previous blog post, the U.S. Department of Transportation (USDOT) announced this week the availability of nearly $527 million in FY 2011 funds for the third round of USDOT’s wildly popular TIGER Discretionary Grant program.
Pre-applications for the funds are due by October 3, 2011, and final applications are due by October 31, 2011. USDOT will host a half-day seminar and webcast providing information and guidance on the TIGER application process on July 18, 2011.
The TIGER program awards funds on a competitive basis to projects that will have a significant ...
The federal fiscal 2011 budget compromise authorized a third round of stimulus spending on transportation capital projects, dubbed TIGER III, under the Transportation Investment Generating Economic Recovery program. $527 million will become available from the U.S. Department of Transportation for selected projects.
Of this amount, up to $150 million will be slated for direct loans and other credit assistance on terms similar to the TIFIA program. This more than doubles up on the $122 million TIFIA budget authority for the 2011 fiscal year.
What we are interested in seeing is ...
The just ended InfraAmericas P3 conference in New York City brought together virtually every active participant, public and private, in the U.S. transportation P3 industry. A number of public agencies showcased their plans and projects, and there was a palpable sense that opportunities to bring U.S. projects forward are growing significantly.
Perhaps the project producing the most buzz at the conference is the Knik Arm Bridge and Toll Authority’s Knik Arm Crossing project in Alaska. KABATA came to the conference loaded for bear (a not infrequent pastime in this bountiful ...
The National Conference of State Legislatures (NCSL) and the Center for Excellence in Project Finance at the American Association of State Highway and Transportation Officials (AASHTO) recently released the report entitled "Transportation Governance and Finance: a 50-State Review of State Legislatures and Departments of Transportation," and will be hosting a free webinar on June 21 at 2pm ET to present the findings of the study (previewed during a committee meeting in January).
Listening to the webinar and reading the study is a must for anyone who wants to understand how ...
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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