Infrastructure

An interim draft report from a special committee looking at Arkansas highway financing includes an option for a 10-year, 0.5% sales tax that would back a bond program.

SAN FRANCISCO — If there are any solutions to the nation's persistent shortfalls in financing transportation infrastructure, they're more likely to come from the local level, according to members of an expert panel Friday.

Last year, Congress created the Build America Bonds program to spur infrastructure investment in our communities and to help thaw the frozen credit markets. We believe this program has been a great success and it should be made permanent, as currently considered by Congress, for the following reasons.

DALLAS — Dallas-Fort Worth International Airport expects its annual debt service cost to double over the next decade as it embarks on a $2 billion renovation of its original four terminals built in 1974.

WASHINGTON — The Connector 2000 Association Inc., the troubled South Carolina toll road that went into default on Jan. 1, filed for bankruptcy on Thursday.

CHICAGO — The Regional Transportation Authority of Illinois board yesterday approved a $140 million taxable working cash-flow note issue that will help the agency keep Chicago-area buses and trains in service as it awaits its overdue state aid.

ALAMEDA, Calif. — Officials in the Los Angeles area say momentum is building behind a plan to accelerate construction of multiple transit projects — a plan that would require as-yet-uncreated forms of federal financial support.

The California Public Employees’ Retirement System announced the acquisition of a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners. The pension fund has committed up to $155 million for the purchase.

DALLAS — Voters in Texas' capital city could decide in November on an $84.8 million general obligation bond package for transportation projects if the Austin City Council adopts the program and schedule proposed by city manager Marc Ott.

WASHINGTON — At least $300 million in funding to the Washington Metropolitan Area Transit Authority for its 2011 fiscal year budget is at risk over a dispute between Northern Virginia municipalities and Gov. Robert F. McDonnell over his request to appoint half of Virginia's share of the WMATA board of directors.