Economy

The Maryland Board of Public Works on Wednesday approved a $5.6 billion, 36-year contract with a consortium of companies to design, build, operate and maintain a 16.2 mile light rail line that will link two counties in Maryland as well as connect to Amtrak, MARC and local bus services.

The University of Texas System will seek savings with a $134 million refunding of revenue bonds.

Puerto Rico health care providers, payers and stakeholders are pressing U.S. lawmakers and administration officials to increase funding for the territory’s Medicaid and Medicare programs in legislation.

The first inventory of Texas toll roads is a starting point for future discussions about how to reduce tolling, said an anti-toll Texas lawmaker.

WellStar Health System expanded its hospital network to 11 from five after Friday’s closing on the acquisition of five hospitals from for-profit Tenet Health, and a merger with nonprofit West Georgia Health, but its ratings suffered.

Drivers’ use of toll roads, bridges and tunnels increased by 7% last year, a record-breaking rate of growth that puts tolling usage on pace to double in less than 10 years, according to a report.

Kentucky lawmakers sent Gov. Matt Bevin a sweeping bill authorizing public-private partnerships, although it prohibits tolls on any state transportation projects that connect with Ohio.

Standard & Poor’s downgraded Presence Health two notches to BBB-minus and put the rating on CreditWatch with negative implications.

The Federal Transit Administration will distribute $266 million of competitive grants this year for transit infrastructure and environmentally friendly bus projects.

Hartsfield-Jackson Atlanta International Airport launched a $6 billion, 20-year capital plan; the world’s busiest airport is part of a wave of U.S. airports spending money on infrastructure as traffic booms.

The Southeastern Pennsylvania Transportation Authority has proposed a $1.4 billion 2017 fiscal budget that spares riders a fare hike.

Private investors in Maryland’s multi-billion dollar Purple Line P3 rail project will finance their share of construction with a federal loan and private-activity bonds.

The Los Angeles County Metropolitan Transportation Authority could ask voters to approve an additional half cent sales tax in addition to extending one passed in 2008 to fund $120 billion of transportation projects.

Mississippi state senators approve a placeholder measure that keeps a proposed gas tax increase on the table.

The Metropolitan Atlanta Rapid Transit Authority could pursue a portion of its $8 billion expansion plan under terms of a bill Georgia legislators passed shortly before adjourning.

Baylor Scott & White Health, the largest not-for-profit healthcare system in Texas, will issue $536 million of taxable and $382 million of tax-exempt bonds.

Good Shepherd Health System faces a rising risk of default on $150 million of debt as the East Texas nonprofit seeks a merger partner, Moody’s Investors Service says.

An overhaul of LaGuardia Airport is closer to taking flight after the Port Authority of New York and Jersey Board of Commissioners voted to approve a public-private partnership for the $4 billion project.

The Gateway Tunnel rail project connecting New Jersey to Manhattan received a commitment for $70 million in an effort to fast-track the estimated $20 billion initiative.

Chicago Transit Authority will use a $255 million federal TIFIA loan to replace more than 800 rail cars.