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Proposed House Ways and Means Committee Tax Bill Would Eliminate All PABs

Last week the House Republican leadership unveiled its much anticipated US tax reform bill. The bill proposes the most sweeping changes to the tax code in 30 years—since the 1986 Tax Act, which by the way imposed many of the...more

OCTA Signs DB Contract for $1.9 Billion Managed Lanes Project in California

Last week the Orange County Transportation Authority executed the design/build contract for the I-405 Improvement Project with OC405 Partners, a joint venture consisting of OHL USA and Astaldi Construction Corporation. With a...more

New Management Contract Rules Hot Topic At NABL Conference

Over a thousand US public finance attorneys converged on the City of Chicago last week for the annual National Association of Bond Lawyers Bond Attorneys Workshop. The conference, the oldest and largest of its kind, featured...more

Public-Private Partnerships: They’re Not Just About the Money, But the Performance

The need to spend significant dollars on the repair and expansion of the nation’s public infrastructure is a major concern expressed by many. Even the two presidential candidates for the major political parties, who don’t...more

Thousands Of Californians Sign Up For VMT Trial

In response to a request from the California Department of Transportation, 5,000 California drivers signed up for the state’s nine month pilot program to replace the state’s gas tax with a charge based on vehicle miles...more

OCTA Releases Final RFP for the I-405 Improvement Project

Drivers of the I-405 in Orange County California are one step closer to an improved facility. Today the Orange County Transportation Authority (OCTA) authorized release of a final request for proposals to design and...more

Top Public Finance Attorneys Urge Regulatory Changes to Foster More P3’s

We all know how hard it is to change federal statutes these days—you need an Act of Congress and the President to sign the bill. Last week, a group of the top public finance lawyers in the US offered an approach relating to...more

S&P Says Infrastructure Costs Go Well Beyond the Initial Investment

In a number of recent conversations regarding using Public-Private Partnerships (P3s) to deliver large infrastructure projects under an availability payment structure, I’ve heard a lot of angst by public owners over the cost...more

More Managed Lanes For California

California has long been a transportation innovator, whether battery powered cars, high speed rail or the home of the first managed lanes facility in the United States—the SR91 Express Lanes. The SR91 Express Lanes opened in...more

California Needs to Spend $853 Billion for New Infrastructure

California is the most populous state in the Country; if it were a country it would have the world’s 8th largest economy. So it’s probably no surprise to hear that a new study has found California needs to spend $853 billion...more

California Launches Road User Charge Pilot Study

This Friday, January 23, 2015, California will take the first step in investigating a road user charge pilot program as an alternative to the gas tax when the CTC convenes the Road User Charge Advisory Committee meeting. The...more

Availability Payment or Toll Concession: Is there a hybrid approach?

At the TRB P3 Subcommittee meeting on January 12, 2015, among the topics discussed is the growth in the U.S. P3 market of the availability payment approach and less use of toll concessions. Availability payment contracts...more

Orange County Toll Agency Successfully Refinances Over $1 Billion of Toll Revenue Debt

The San Joaquin Hills Transportation Corridor Agency today successfully refinanced $1.4 billion of its $2.2 billion in outstanding debt issued to fund construction of the 73 Toll Road. “This is great news for drivers and the...more

OCTA 91 Express Lanes Bonds Get 2 A's from S&P

In an historic move, Standard & Poor’s upgraded the Orange County Transportation Agency SR91 Express Lanes Toll Revenue Bonds to “AA-”, making it one the highest rated managed lanes projects in the world. The bonds were...more

EPA Won't Require Formal Rulemaking for WIFIA Program

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...more

City of Indianapolis Shortlists Three Development Teams for Marion County Consolidated Justice Complex

On March 4, 2014, the City of Indianapolis announced that three development teams have been short-listed to compete to design, build, finance, operate and maintain a new Marion County Consolidated Justice Facility....more

3/6/2014  /  Municipalities

Perspective: Refining RRIF To Include Commuter Rail

Famed French writer Victor Hugo said, "There is one thing stronger than all the armies in the world, and that is an idea whose time has come." Repurposing the Railroad Rehabilitation Improvement Financing program (RRIF) is an...more

East End Crossing Wins Bond Buyer Deal of the Year

Recognizing the innovative P3 approach to project delivery and financial structure for a major US infrastructure project, the Bond Buyer awarded the Indiana Finance Authority's private activity bonds for the East End Crossing...more

Indiana Finance Authority Issues RFQ for the Indiana Portion of the Illiana Corridor Project and I-65 Added Capacity Project

The Indiana Finance Authority (“IFA”) issued its Request for Qualifications (“RFQ”) for an availability payments public private partnership for the financing, building and operating of the Indiana portion of the Illiana...more

How To Fix RRIF (If Congress Wanted To)

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...more

Welcome to Las Vegas! Nevada DOT Holds Industry Workshop, Issues RFQ For Project Neon Availability Payment Project

Last week the Nevada Department of Transportation (NDOT) conducted a two-day industry workshop at the Golden Nugget Conference Center in Las Vegas, Nevada, for Project Neon, a freeway improvement project on the west side of...more

East End Crossing Achieves Financial Close

Almost a year to the day from when the procurement began, the East End Crossing P3 project has achieved financial close. Raising nearly $1 billion of public and private debt and equity funding, WVB East End Partners, made up...more

Project Finance International

Originally Published in Project Finance International, February 13, 2013. We all know the story of Goldilocks and the Three Bears. Young girl gets lost in the woods, stumbles upon a house and discovers the occupants...more

Ohio River Bridges - East End Crossing - Reaches Commercial Close

On December 27, 2012, the Indiana Finance Authority (“IFA”) achieved commercial close of the East End Crossing project in southern Indiana, part of the broader Louisville-Southern Indiana Ohio River Bridges Project. WVB East...more

A Tale of Two Bridges (A Tale of Bi-State Cooperation)

On November 16, 2012, the Indiana Finance Authority (“IFA”) selected WVB East End Partners (“WVB”) as the “Preferred Proposer” for IFA’s East End Crossing project in southern Indiana. WVB East End Partners is a joint venture...more

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