Archives

Advance Notice for Penn Station Redeveloper Procurement

The Department of Transportation (DOT) and Amtrak are wasting very little time moving forward with a P3 procurement to redevelop Penn Station in New York. The agency has noticed that it intends to publish a solicitation for a master developer for the project by the end of this year, and that it will be engaging […]

Municipal Retirees for Water Privatization in Chester, Pennsylvania

An organization representing some retired municipal employees filed suit against the state-appointed receiver for Chester, Pennsylvania over the city’s planned sale of the Chester Water Authority (CWA) earlier this summer. Their complaint isn’t what you’d expect. Rather than attempting to block a concession to a private partner, the retirees are trying to force one. The […]

Opening the U.S. Market for Airport P3 Leases

P3-focused global companies have long been frustrated that there seems to be no U.S. market for airport privatization. Worldwide, the last three decades have seen numerous large and medium-size airports either sold or P3-leased. Airports Council International (ACI) keeps a database which shows that in Europe 75% of passengers use privatized airports. In Latin America […]

CA High‐Speed Rail Receives State Funding Bill, Will Solicit Investors

The California High-Speed Rail Authority (CHSRA) may soon be able to solicit private investors to deliver parts of the Bakersfield-to-Merced initial operating segment. Just over a month after receiving input from potential investors, new legislation passed in early September will stabilize and prioritize the Authority’s cap-and-trade funding at $1 billion per year. CHSRA CEO Ian […]

UK Water Report: Did Investor Dividends Sully the Rivers?

The final report of the UK’s Independent Water Commission, led by Sir Jon Cunliffe, may not be in time to save Thames Water from a messy temporarily renationalization. The water company is going to decide in a month whether to appeal its current regulatory program to the Competition and Markets Authority (CMA), based on negotiations […]

Tennessee I‐24 Choice Lanes Shortlist Published

The Tennessee Department of Transportation (TDOT) has finally published an official shortlist of bidders for the I-24 Choice Lanes project. The proposed project will add two express lanes in each direction along a 26-mile stretch of I-24 southeast of Nashville. The project is the first of Governor Bill Lee’s Choice Lane initiative, which could eventually […]

Governance and Renegotiation in Public-Private Partnerships During Crises: An Examination of the Resulting Tensions in a Private Partner Consortium

Original study by Marta Almeida, Anne Stafford, Robert Scapens As PPPs are long-term contracts, they are often characterized by project complexity and uncertainty that may be because of an exogenous event such as the global financial crisis (GFC) or the pandemic.  PPPs, therefore, usually have governance arrangements in place to regulate uncertainty during crises. This […]

A Historic Financial Close for Georgia’s SR‐400

A truly historic transportation financing was closed in Georgia in August. The SR-400 project financing sets new records no matter where you look. At $3.32 billion, it includes the largest single Private Activity Bond (PAB) issuance in U.S. history in addition to, at $3.89 billion, the largest TIFIA loan in the program’s history. At $4.7 […]

The $3.8 Billion Dollar Question for GDOT (and other DOTs)

The Georgia Department of Transportation (GDOT) and its advisors have much to celebrate with the successful financial close of the SR-400 project. But the number that should get the most attention is the financing’s concession fee to Georgia’s State Road and Tollway Authority (SRTA): $3,799,312,000. That $3.8 billion figure has been the subject of ample […]

I‐77 South Express Lanes RFQ Published

The North Carolina Department of Transportation (NCDOT) has finally kicked off the procurement for the I-77 South Express Lanes project in Charlotte. The state published a Request for Qualifications in August, and is planning on collecting qualifications from interested bid teams in December. The state is planning to select a shortlist of teams in February […]