Infrastructure

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

Investors, while confident long-term about the transit authority, worry about immediate risks, Chairman Patrick Foye said in a letter.

The agency has lost substantial revenue from plummeting ridership and faces rising COVID-19-related expenses.

The mass transit system still holds a strong presence despite three bond rating downgrades amid the coronavirus, Chief Financial Officer Robert Foran said.

John Boyd Jr. of corporate site selection firm Boyd Co. discusses economic development scenarios, including the need for a "dramatic, New Deal-type" infrastructure bill. Paul Burton hosts.

The state-run authority’s oversight board unanimously approved a $935 million contract for a public-private partnership with Cubic Transportation Systems.

The offering of special tax obligation bonds comes as the state begins a four-phase reopening in its next response to the coronavirus.

Congress should direct more COVID-19 relief dollars to higher ridership systems, think tank Regional Plan Association said.

While their regions, sizes and funding streams vary, several mass transit systems underscored the dire need for additional federal funding.

One of the bills authorizes $17 billion in new federal authorization to invest in water infrastructure as municipalities grapple with coronavirus’ impact on their water systems.

The Texas Transportation Commission also signaled plans to move full-speed-ahead with a $3.5 billion highway project in Austin.

Better technology can help enhance efficiency, analysts and civic leaders say.

The mass transit authority cannot tap the Municipal Liquidity Facility directly, chief financial officer Robert Foran said.

The utility envisions a digital power grid and clean energy transmission, with this sale setting the stage.

For the second time in two weeks, a rating agency lowered the Port Authority of New York and New Jersey's outlook.

Size, timing and structure hinge on market variables, senior manager Jefferies said.

Debt restructuring options as the transit agency navigates through the coronavirus crisis include refundings for savings or to push out debt, according to Robert Foran.

"This is undoubtedly the toughest time in MTA history," said Patrick Foye, who has asked Congress to double its $3.8 billion relief package.

The site will provide a single location for investors to access its financial and operating data.

The state doesn't expect any short-term borrowing to cover the current fiscal year, Gov. Ned Lamont said.