Infrastructure

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

Revenue forecasts are an inexact science, but they are a critical part of the rapidly-expanding network of toll roads. When market participants over-rely on them, the result can be a financial meltdown.

Four transportation projects will be expedited as part of the president's "We Can't Wait" program, the Obama Administration announced this week, including the $3.5 billion Columbia River Crossing linking Vancouver, Wash. and Portland, Ore.

The Metropolitan Washington Airports Authority has opened a public comment period giving Northern Virginia residents the chance to weigh in on the authority's hotly-debated Dulles Toll Road rate increase schedule.

Creditworthiness requirements and a new debt-subordination feature are likely to shield both taxpayers and private activity bond investors under the expanded Transportation Infrastructure Finance and Innovation Act program, according to a new white paper out from infrastructure firm HNTB.

Several Maryland state legislators are pushing for a constitutional amendment allowing the state to put transportation packages and their related bonds on statewide ballots.

Federal and state officials are seeking to overhaul the leadership of the Metropolitan Washington Airports Authority amid pending legislation that would restructure the board of the bond-issuing authority.

Rep. Frank Wolf, R-Va., announced this week that he has introduced legislation that would hand control of the Metropolitan Washington Airports Authority to Virginia.

These reduced forecasts are likely to impair the ability of Pocahontas 895 to service the bank and Transportation Infrastructure Finance and Innovation Act (TIFIA) loans used to fund the road's development.

The transportation infrastructure funding crisis facing governments at all levels is providing a "silver lining" in finance innovation as state governments are turning increasingly to such new tactics as variable-rate fuel taxes and mileage-based user fees, according to a report released this week by the National Conference of State Legislatures.

Franchise strength, offset by leverage, is the most important component of Fitch airport ratings, according to a new Fitch Ratings report. The study concludes an 8 month review of Fitch's airport portfolio.