Infrastructure

The Metropolitan Atlanta Rapid Transit Authority said Monday that its fiscal crisis has worsened since it took measures to deal with a $60 million budget shortfall in mid-December.

WASHINGTON - The current financial crisis that has caused Treasury rates to plummet has created a boom in demand for a 10-year-old federal program that offers low-interest loans, pegged to Treasury rates, to transportation departments and private investors. But there is no longer enough funding in the TIFIA program to meet the growing demand, according to transportation experts and market participants.

DALLAS - Oklahoma has identified 100 highway projects across the state that could begin construction as early as March if Congress passes a proposed multibillion-dollar transportation infrastructure stimulus package.

DALLAS - With its own future in question, the Texas Department of Transportation is abandoning the Trans-Texas Corridor as a planning concept, executive director Amadeo Saenz said yesterday.

Virgin Galactic last week signed a 20-year lease agreement that calls for the tourist spaceflight provider to establish its headquarters in New Mexico and base its operations at the state-owned Spaceport America.

WASHINGTON - State and local governments could get an infusion of federal funds next year to jump-start many of their shovel-ready transportation projects if Democrats and President-elect Barack Obama are able to enact a promised stimulus package soon after Obama takes office, industry stakeholders said in recent interviews.

DALLAS - The New Orleans Aviation Board will refund all $113.3 million of its outstanding variable-rate debt and pay swap termination fees of up to $16.7 million for five related interest rate swaps with the proceeds from the negotiated sale of $138.8 million of fixed-rate airport revenue bonds next week.

Fitch Ratings has confirmed the rating of AAA/F-1 assigned to Denver International Airport’s $148.5 million of system revenue bonds under a new standby bond purchase agreement with Morgan Stanley Bank.

DALLAS - The El Paso City Council yesterday approved creation of Texas' first transportation reinvestment zone that could attract an estimated $1 billion in state funds for road projects.

Massachusetts Turnpike Authority officials may postpone a vote on proposed toll hikes to give incoming Transportation Secretary Jim Aloisi time to review the agency's books.