Infrastructure

An audit of the U.S. Department of Transportation's popular Transportation Investment Generating Economic Recovery grant program released revealed an inadequate framework for ensuring projects meet their goals, though the DOT said it has already taken steps to meet some of the IG's recommendations.

The district of Columbia's quarterly capital expenditures report showed that the district spent $689.3 million on capital projects in fiscal 2012, and debt financing was down about $62 million from the same point is fiscal 2011.

Airports will suffer from American Airlines impending layoffs of more than 4,000 employees, Moody's Investors Service said Monday.

Credit analysts aren't sure what the impact of the new generation if huge cargo ships will be on U.S. ports, but industry leaders and engineers are sounding the call for billions of dollars in additional investment in America's marine infrastructure.

U.S. District Judge Thomas Thrash Thursday morning granted Atlanta another 13 years to complete consent-related work on its massive sewer repair program.

The threat that federal subsidy payments for Build America Bonds could be slashed under the sequestration process after administration officials assured issuers those payments were safe could permanently sour the muni market on BABs and other direct pay bonds, market participants said Monday.

Transportation advocates are upset about the sequestration cuts. Although most dedicated funding sources for transportation infrastructure were protected from the mandatory spending reductions, highways and airports could both take a hit if Congress doesn't act.

At a time when states and municipalities face more than $2 trillion of unfunded pension fund liabilities, states are increasingly turning to private infrastructure investments to help close those funding gaps, experts said told treasurers meeting here this week.

Fitch Ratings announced Wednesday that uncertainties in federal transportation funding led to downgrades of GARVEES. The agency also warned against further weakening possible along the current trajectory.

A new report from Loop Capital Markets concludes that airports that rely heavily on cargo shipping have been less resilient during the recession and subsequent recovery than more passenger-oriented facilities.

Airports Council International-North America released a manifesto Monday, calling for the U.S. government to eliminate the alternative minimum tax on private activity bonds and provide airports with reliable funding mechanisms.

Rep. Bill Shuster looks like the most likely candidate to follow in his father's footsteps as the next Chair of the House Committee on Transportation and Infrastructure, but several dark horse candidates are also in the mix, transportation lobbyists say.

A public-private partnership to develop a $400 million light rail line in San Juan, P.R. might utilize parking revenue, fares, and other sources to finance the project, according to city officials.

Firms from four countries as well as the U.S. expressed interest in participating in a public-private partnership to construct a street car system in the District of Columbia.

Tax-increment financing is an increasingly popular model for cities looking to finance mass transit development, but participants in such projects said Thursday that economic conditions have created several significant challenges for TIF undertakings.

Veteran infrastructure finance banker Rohit Syal has joined Ullico Investment Advisors, Inc., as a director, the company announced Wednesday. He formerly worked at Loop Capital Markets, where he was involved in prominent infrastructure deals.

The GOP 2012 platform, scheduled to be approved at the party's national convention Tuesday, includes several familiar tax proposals and a handful of initiatives to encourage more private sector involvement in infrastructure finance.

A new projection produced by the Congressional Budget Office shows that both the highway trust fund and transit account, key sources of federal transportation funding, will run out of money in fiscal year 2015 under the recently enacted transportation law.

Australia-based infrastructure development giant Macquarie Capital will advise San Juan, P.R. in its quest to put together a light rail public-private partnership that has been estimated at $400 million, the city announced Monday.

Revenue forecasting can make or break a project