Transportation industry

The transportation sector will spend next year looking for opportunities to achieve limited legislative goals, while hoping to stay out of the way of lawmakers who may have to slash funds in ongoing efforts to deal with the debt crisis.

Kansas City, Mo., plans to launch construction of a streetcar system next year using a bond financing plan designed to protect the city's general budget from project shortfalls.

Michigan Gov. Rick Snyder last week signed a series of high-profile economic development legislation that creates a Detroit area regional transit authority and a lighting authority for Detroit and other cities.

Chicago Mayor Rahm Emanuel's announcement that the city will explore leasing Midway International Airport to private operators came with a full court press to portray any eventual deal as a good one for taxpayers.

Joe Lhota's departure as New York MTA chairman creates uncertainty at one of the largest issuers in the municipal marketplace as it confronts problems that include high turnover in its top job.

Virginia Gov. Bob McDonnell announced final agreement has been reached on a $1.4 billion public-private partnership to finance, design, and build a new 55-mile section of U.S. Route 460 in the southeastern part of the commonwealth.

Chicago is exploring a second try at privatizing its Midway International Airport, Mayor Rahm Emanuel's administration announced Friday.

The RTA of Illinois board put off a scheduled vote Wednesday on its 2013 budget due to an impasse over the level of fiscal information provided by one of its service boards on up to $1 billion of planned borrowing.

Federal and transit agency officials made their case for federal aid to rebuild in the aftermath of Superstorm Sandy, telling a Senate panel they will need it to help pay debt service on new muni debt.

Los Angeles World Airports and Los Angeles Metropolitan Transportation Authority have overcome their differences and are working on a plan to connect light rail to the airport.

An agreement signed Wednesday by City and County of Honolulu officials and the Federal Transit Administration will provide $1.5 billion in New Starts funding for the region's elevated rail project.

Holders of bankrupt American Airlines' New York City airport debt are weighing a settlement offer that would pave the way for the carrier to assume its lease at John F. Kennedy International Airport.

The New York Thruway Authority has picked the lowest priced design option for a new Tappan Zee bridge north of New York City.

Standard & Poor's shifted its outlook to stable from negative as the Arizona Transportation Board plans to issue $712 million of revenue bonds after the first of the year.

An oversight panel chaired by California treasurer Bill Lockyer is analyzing the bond debt of the San Joaquin Hills Transportation Corridor Agency and the Foothill/Eastern Transportation Corridor Agency to determine if they can take on more debt to fund a planned extension.

The finance committee of New York's MTA approved the borrowing of up to $2.5 billion in long-term bonds to cover Hurricane Sandy-related repair costs.

The Los Angeles County Metropolitan Transportation Authority is at the forefront of a nationwide push to create a new tax-credit bond program for transportation investment.

Virginia Gov. Bob McDonnell unveiled his proposed amendments to Virginia's 2012-2014 budget, an $86 billion two-year plan he said prepares Virginia for the fiscal cliff by increasing cash reserves and flexibility and puts transportation revenue on a firmer footing.

New York's Metropolitan Transportation Authority should increase its base fare to $2.50 from $2.25 among other changes, Chairman Joseph Lhota told the board.

Kentucky and Ohio are forming a bi-state management team to determine how to finance a new, $2.5 billion bridge over the Ohio River between Cincinnati and Covington, Ky.