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Belle Chasse Bridge P3 Tolls Suspended in Louisiana

The state of Louisiana suspended tolls on the Belle Chasse Bridge in October, just months after tolling operations on the new bridge began. Governor Jeff Landry posted a video on facebook on October 2nd announcing the suspension. In the video, he referring to “…the terrible deal that the Jon Bel Edwards administration placed on the […]

DC Express Lanes: 495 NEXT Opening Soon, Planning Board Punts on Southside

For years, Virginia has been working to extend its express lanes network on the I-495 capital beltway to the Maryland border on both the north and south sides of Washington DC. Both extension projects got some news in October: the 495 NEXT extension project to the north is now scheduled to open in late November, […]

Crunch Financing Deadline for Brightline West in November

Brightline West, the company developing a 218-mile high-speed rail line between Rancho Cucamonga, California and Las Vegas, is facing a crunch financing deadline in November on a $2.5 billion Private Activity Bond (PAB) issuance from earlier this year. The project bonds included a 270-day deadline to either complete the project’s capital structure or face a […]

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 […]

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 […]

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 […]

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 […]

PWF’s 3‐Step Guide to Getting More American Capital into American Transport Infrastructure

Transportation Secretary Sean Duffy joined the inaugural meeting of the Department of Transportation Advisory Board earlier this summer at the White House. Overall, the meeting was extraordinarily promising for American transportation P3s. Again and again, Secretary Duffy mentioned the need to find ways to leverage private investment and create projects that attract private capital, and […]