Oberstar's Subcommittee Discusses P3s
Posted in Financing, Policy

Jeffrey Parker, President of Jeffrey A. Parker and Associates, has worked closely with Nossaman on several projects, including two recent projects in Florida.  We are pleased to include his comments here as a guest to Infra Insight.

The House Subcommittee on Highways and Transit invited me to participate in a hearing on April 14, 2010 on Using Innovative Financing to Deliver Highway and Transit Projects.  As a participant on the panel, I was pleased to share my firm’s experiences with availability payments and answer questions from the Subcommittee Members on the I-595 and Port of Miami Tunnel transactions.  My testimony is available online.  It was gratifying to see the subcommittee’s interest and the potential for these examples to help shape future federal policy.

In addition to the P3 discussion, the Subcommittee demonstrated a strong interest in enlarging the current TIFIA loan program at USDOT, as well as in making railroad infrastructure loan financing (RRIF) more attractive.

USDOT Chief Financial Officer Chris Bertram explained a number of concepts the Administration is developing for reauthorization of federal transportation programs, including the new national infrastructure loan and grant program.  Subcommittee members also sought feedback on the Federal Transit Administration’s PentaP Program and its impact on expediting the approval process for New Starts Projects.  Video of the entire hearing and a written summary are both available online.

- Jeffrey Parker

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