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The Evolution of U.S. Express Lane P3s, and TIFIA

The US landscape is evolving for toll roads and managed lanes which are organized as public-private partnerships (P3s). At the federal level, the Credit Programs Office at USDOT’s Build America Bureau (BAB) houses the Transportation Infrastructure Finance and Innovation Act (TIFIA) and the Railroad Rehabilitation and Improvement Financing (RRIF) credit programs. Duane Callender, Credit Programs […]

Amid New Delay Dispute, LAX APM Project Files Formal Claim

In late October, the concessionaire for the LAX Automated People Mover (APM) project filed a formal claim for two cost and schedule relief events against the project’s public sponsor, Los Angeles World Airports (LAWA). The claim sheds new light on the cause of recent delays and disputes on the project, which is nearly complete. It […]

Newark Terminal B Redevelopment P3 in PANYNJ Capital Plan

The Port Authority of New York and New Jersey (PANYNJ) is officially planning to continue its use of Public-Private Partnership (P3) contracts redevelop airport terminals region-wide. The Authority published its 10-year Capital Plan in November, and one of the major projects listed is “…a public-private partnership to design and build a new world-class, light filled […]

Brightline West Completes Bond Exchange

Brightline West, the company building a high-speed rail connection between Los Angeles and Las Vegas, announced that it negotiated an exchange for a significant majority of its outstanding Series 2025A Private Activity Bond (PAB) bondholders. The successful exchange for $2.5 billion of outstanding PABs, which were issued earlier this year, came as the company faced […]

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 […]