Transportation industry

To keep up with anticipated passenger growth, Phoenix Sky Harbor International Airport plans to build an additional terminal.

The deal comes after months of disagreements over ballooning costs for the project, which was first announced in 2018.

Lawmakers in Illinois have proposed legislation to consolidate the Chicago Transit Authority, Metra, Pace and the Regional Transportation Authority.

Strong and growing sales tax revenues support the bonds. Repayment isn't tied to ridership, which has declined.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

The bill would authorize $105 billion in appropriations through 2028 but still faces a few hurdles in Congress.

Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.

The state's transportation commission took action to end a comprehensive development agreement for a partially bond-financed toll lane project on State Highway 288.

The eight-year, $1.35 billion property tax levy would have to be approved by the City Council before going to voters in November.

Municipal bonds on the rise

Congestion pricing proponents claim it will reduce gridlock, improve air quality in Manhattan and boost ridership on the MTA, which has never recovered its pre-pandemic ridership levels.

The legislation gives up to $8.84 billion in bonding authority to the New Jersey Transportation Trust Fund Authority over a five-year period beginning July 1, about $1.76 billion annually.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.

The Fortress Investment Group-backed Brightline now anticipates carrying 4.9 million passengers between Miami and the Orlando airport.

Gov. Tina Kotek sent a letter to transportation commissioners asking them to scrap a tolling plan for Portland-area highways that was seven years in the making.

Chicago will issue $80.865 million of Series 2024A and 2024B senior lien airport revenue refunding bonds for Midway, with a pricing date to be determined.

U.S. DOT Deputy Secretary Polly Trottenberg traveled to Miami-Dade County to highlight the $27 million of funding provided under the bipartisan infrastructure law to Miami International Airport's improvement projects.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

Maura Healey's budget plan for fiscal 2025 features more money for the Commonwealth Transportation Fund, which would increase its bond capacity by $1.1 billion.

Fitch Ratings downgraded the private-activity bonds supporting LAX's people mover bonds to junk, but said they could fall lower if the airport doesn't reach an agreement on delay concessions.