Infrastructure

Chicago received 16 responses in its first market outreach to identify prospective bidders in a possible deal to privatize Midway International Airport, according to the city's chief financial officer Lois Scott.

The Virginia General Assembly gave final approval on Saturday to legislation that is projected to raise more than $800 million for transportation over the next five years.

Virginia is poised to enact a funding bill that raises sales taxes but slashes fuel taxes to create $200 million of new transportation revenue each year that could be used for bonding.

Municipal market participants are encouraged but cautious about President Obama's proposal for a new type of taxable, direct-pay bond called America Fast Forward bonds to finance the nation's infrastructure.

President Obama's proposal for a Build-America-Bonds-like program for infrastructure has its roots in a proposal by the Los Angeles County Metropolitan Transportation Authority, and some infrastructure analysts say it represents a pro-business pivot from the White House.

A new Reason Foundation study analyzing road trends over the past two decades challenges claims of "crumbling infrastructure," which have been used by transportation advocates and policymakers as justification for everything from higher taxes to new or expanded bond programs.

Federal, state and local departments of transportation have so far obligated $7 billion in federal highway funds during fiscal year 2013, a 56% increase over the same period last year, according to a new report from the American Road & Transportation Builders Association.

Several major airport credits could be negatively affected by operational shifts in the wake of the US Airways/American Airlines Merger, officially announced Thursday.

Public finance officials and infrastructure investors need to stop talking about "the deal" and start managing political risks with clear, easily understood language, participants at a U.S. Chamber of Commerce panel said Wednesday.

Market participants say munis are key to reaching the infrastructure goals laid out in President Obama's State of the Union Address, but caution that cuts to munis' tax benefits could make it difficult to fund the large-scale projects Obama described.

Transportation and business leaders on Wednesday discussed controversial solutions for funding American infrastructure, including Build America Bonds, gasoline tax increases, and wider use of tolling.

Infrastructure finance experts and high-speed rail advocates are largely united in the belief that public-private partnerships are the way to finance ambitious bullet train plans, but the exact details continue to be elusive.

A refunding surge triggered by low interest rates and soaring airport issuance contributed to the surge in transportation bond volume in 2012, experts said.

Former investment banker and New York City official Mark Kim is the new chief financial officer at the District of Columbia Water and Sewer Authority, DC Water announced at its board meeting Feb. 7.

The New York City Council has authorized a study to explore relocating utility wires underground in areas of the five boroughs vulnerable to weather.

The City Council in distressed Scranton, Pa., tabled a contract with Standard Parking to manage city meters, citing concerns over fees and revenue projections.

The outlook for U.S. toll roads is negative for the fifth consecutive year, according to a Moody's Investors Service analysis of expectations for the sector over the next 12-18 months.

Virginia Gov. Bob McDonnell's controversial transportation plan passed the House of Delegates Tuesday, but failed to get out of the Senate despite both chambers agreeing to ban tolling on Interstate 95 in the southern part of the state.

Several individuals have emerged as candidates to replace Transportation Secretary Ray LaHood when he steps down, but that person will need to be very proactive to affect meaningful policy, lobbyists say.

New York's Metropolitan Transportation Authority must consider the age of its subway system and a strained budget when considering technical enhancements, officials said.