Infrastructure

The Maryland Department of Transportation expects to competitively sell $110 million of revenue transportation bonds on Wednesday.

WASHINGTON — Transportation stakeholders are urging increased support from the Department of Transportation for state and local governments and railroads to take advantage of a rail financing program that provides low-interest federal loans and credit for infrastructure projects and debt refinancing.

Keeping Massachusetts’ main east-west roadway in a state of good repair will cost $544 million through 2017, according to a recent review of the 123-mile Western Turnpike.

The Massachusetts Turnpike Authority's coffers may run dry by June 30 due to unforeseen infrastructure needs and an 8% dip in traffic on the Metropolitan Highway System in March.

The Metropolitan Atlanta Rapid Transit Authority is experiencing severe budget constraints affecting operations, and sales tax revenues dedicated to paying debt service are down.

DALLAS - The North Texas Tollway Authority is considering issuing as much as $500 million of taxable Build America Bonds in June, though discussions are very preliminary, officials say.

CHICAGO - Chicago's $2.52 billion groundbreaking agreement to lease Midway Airport to a private consortium under a federal pilot program was canceled yesterday over the group's inability to raise financing for the 99-year transaction amid the ongoing international credit crunch.

The New York State Senate Democratic majority offered a new rescue package for the cash-strapped Metropolitan Transportation Authority late Monday. The proposal would raise $1.76 billion annually, which includes debt service on $1.2 billion of bonds that would finance road, bridge and rail projects in upstate New York and Long Island, Austin Shafran, spokesman for Senate Majority Leader Malcolm Smith, D-Queens, said. The proposal would eliminate service cuts and reduce fare and toll yield hikes to 8% from the 23% the MTA board approved last month, Shafran said.

John McGee, chief financial officer of the Arizona Department of Transportation, said last week that public-private partnerships could help solve at least part of the state’s transportation funding problem.

Standard & Poor’s last week raised $4.8 billion of outstanding New Jersey Turnpike Authority revenue bonds to A-plus from A. The outlook is stable.