Infrastructure

BRADENTON, Fla. - The Florida Department of Transportation Tuesday closed on the $1.8 billion Interstate 595 project in Broward County with I-595 Express LLC, a consortium whose main sponsor and equity partner is ACS Infrastructure Development.

Independent Massachusetts bonding authorities would no longer have the power to enter into derivative transactions if lawmakers approve, as amended, a bill to help the Massachusetts Turnpike Authority ward off a potential $350 million termination-event fee.

DALLAS - The Harris County, Tex., Metropolitan Transit Authority will invest $1.5 billion to build 20 miles of light rail under a plan approved by the board of directors Wednesday.

DALLAS - Louisiana will accept up to $2.5 billion of federal stimulus funds over the next two years, but Gov. Bobby Jindal's administration is reviewing another $1.5 billion allocated to the state before deciding whether to use the available funds.

The Georgia State Transportation Board last week voted to fire Department of Transportation Commissioner Gena Evans.

The Orlando-Orange County Expressway Authority last Thursday increased tolls in central Florida for the first time in nearly nine years. The base toll will increase 25 cents beginning April 5 with future increases every five years based on the consumer price index.

The House Transportation and Infrastructure Committee is slated to vote today on two bills that would authorize federal funding for water infrastructure and airports - including bond-related funds - and to outline how the fiscal 2010 budget summary released by the White House last week would affect infrastructure.

CHICAGO - Months after narrowly avoiding its first default, the Cleveland-Cuyahoga County Port Authority is faced with another delinquent bond-fund borrower that has warned it would likely have a tough time making its full monthly debt payments this year due to the weak economy.

DALLAS - Utah will turn to the bond market to ease its budget crunch, issuing up to $3.3 billion of debt this year for expansion of Interstate 15 under an agreement between Gov. Jon Huntsman Jr. and legislative leaders.

Chicago received clearance from the Federal Aviation Administration last week to use $182 million in passenger facility charges collected on airline tickets to finance design work on new and expanded runways and a western terminal that are part of the later phases of the $7.5 billion expansion at O’Hare International Airport.