Transportation industry

CHICAGO — Traffic between Michigan and Canada may not be sufficient in the short term to justify construction of a new $3.5 billion trade bridge between the two countries, but that will likely change over the long term, Fitch Ratings said in a commentary released this week.

The popular federal TIGER grant program for major transportation projects would be axed if Republicans get their way.

Michigan and Canadian officials Friday announced an agreement to build a new $4 billion, largely bond-financed trade bridge that has Canada taking on nearly all of the financial risk for the massive project.

The California Department of Transportation and the San Francisco County Transportation Authority closed Thursday on financing for the $1.1 billion Presidio Parkway Public-Private Partnership.

Alaska Railroad’s bonds appear to be safe despite uncertainty surrounding federal grants that back them, according to reports.

WASHINGTON — The push for Congress to pass long-term highway funding legislation is reaching a fever pitch two weeks before the current law expires, as Sen. Barbara Boxer led a rally Wednesday urging approval of her two-year transportation bill in time to avoid another extension.

The Louisiana Department of Highways and Economic Development will produce a report by the end of 2012 on whether tolls can help finance construction of the final 136 miles of Interstate Highway 49 from Lafayette to New Orleans.

The Georgia Department of Transportation last week issued a request for qualifications for firms interested in designing, building and partially financing the nearly 30-mile, $1 billion Northwest Corridor project along Interstate 75 and 575 in Cobb and Cherokee counties.

CHICAGO — The Regional Transportation Authority of Illinois will sell $300 million of two-year working cash-flow notes Wednesday, rolling over some existing short-term paper while also raising funds to weather the state’s chronically late aid payments.

The Massachusetts House on Wednesday will take up a bill to close most of the $51 million deficit in the Massachusetts Bay Transportation Authority’s budget for the fiscal year beginning July 1.

DALLAS — Houston’s decision to allow Southwest Airlines to open five new international gates at Hobby Airport in competition with United Airlines at Bush Intercontinental Airport is a credit positive for the Houston Airport System, according to Moody’s Investors Service.

New York City’s Department of Transportation on Monday issued a request for statements of qualifications to operate its 81,000 street meters in a private management agreement.

DALLAS — Amid renewed attention to the growing border economy, two major bond issues from the El Paso, Texas, international crossroads region will provide funding for transportation, law enforcement and education.

The Maine Turnpike Authority, operator of a primary travel corridor through southern Maine, is proposing toll increases that would raise $26.5 million to meet its present and long-term financial needs.

BRADENTON, Fla. – The Florida Department of Transportation is preparing to raise tolls to help finance $1.8 billion of road improvement projects.

BRADENTON, Fla. — After the sale of $673 million of bonds to finance most of North Carolina's second toll road — the 19.7-mile Monroe Connector — the project has stalled.

DALLAS — The Houston Airport System expects to begin expansion of Hobby Airport next spring using debt backed by Southwest Airlines as the discount carrier begins offering international flights.

The Santa Rosa Bay Bridge Authority, which oversees the 3.5-mile Garcon Point toll bridge in northwest Florida, has canceled its June 13 meeting.

WASHINGTON — The Metropolitan Washington Airports Authority voted on Wednesday to drop a controversial labor agreement from Phase II procurement for its $6 billion, 23 mile metrorail extension project to the Dulles International Airport.

In a move that is likely to make Virginia the leading state for public-private partnerships, Gov. Robert McDonnell has announced 22 transportation and infrastructure projects that may be developed as P3s.