Infrastructure

CHICAGO — The Chicago Transit Authority early next month will restructure about $100 million of its federal capital grant-backed bonds. The agency will avoid principal payments this year and next in order to accelerate capital spending and provide an operating cushion in case fiscal pressures mount.

CHICAGO — Several Midwestern recipients of portions of the $8 billion in federal stimulus funds earmarked for high-speed rail lobbied for more funding to promote overall rail use and defended their projects’ lack of speed against Republican criticism during a congressional field hearing here Tuesday.

North Carolina Gov. Beverley Perdue Tuesday released a budget proposal for fiscal 2011 that includes no additional bond issuance, but creates a new fund for transportation projects. The plan, which would amend the state’s biennial budget passed last year, closes a $1.2 billion budget gap.

DALLAS — Without a sales tax increase, the Denver area’s FasTracks transit system — originally designed as a 12-year project — would not be completed until 2042, according to the Regional Transportation District.

The Pennsylvania Department of Transportation yesterday released a plan that provides a framework for potential rail development during the next 25 years.

Illinois Gov. Pat Quinn last week announced a $12.8 billion highway improvement program for fiscal 2011 through 2016 that’s projected to create 167,000 jobs.

WASHINGTON — Real estate investment trusts could be the next frontier for infrastructure financing, according to a report released yesterday by Deloitte LLP, a member of Deloitte Touche Tohmatsu, a Swiss association. But legislation is needed to clarify questions of eligibility if public-sector entities want to secure REIT investments, the report said.

The director of the Oklahoma Department of Transportation told highway commissioners last week that any more cuts in state funding could halt a planned sale of $150 million of bonds.

The North Little Rock City Council last week unanimously approved a proposal by Mayor Patrick Hays to issue $7 million of five-year sales tax bonds that will provide $750,000 for a pedestrian and bicycle bridge over the Arkansas River.

The Blue Ribbon Committee on Highway Finance will hold four meetings across Arkansas in May to get public input on its proposals for financing state and local highway and street projects.