Transportation industry

DALLAS — Faced with sharply falling revenue, Dallas Area Rapid Transit is considering delaying a key light-rail line to Dallas-Fort Worth International Airport, among other measures to reduce spending.

BRADENTON, Fla. — Florida’s largest ever public-private partnership — a $1.8 billion, limited-access toll road in Jacksonville — will begin moving forward soon.

The Massachusetts Bay Transportation Authority last week approved Richard Davey as general manager of the state’s largest mass-transit system.

Public finance veteran Robert Foran will today be named the new chief financial officer of New York’s Metropolitan Transportation Authority. Foran, 53, a public finance banker for nearly three decades, has been working with MTA since the 1980s and was a key figure in its $15 billion restructuring that began in 2002.

Moody’s Investors Service Thursday upgraded the Port Authority of New York and New Jersey to Aa2 with a stable outlook from Aa3, citing its favorable financial results in tough economic times. The upgrade affects $12.4 billion of outstanding debt.

WASHINGTON — The House Thursday voted 276 to 145 to approve a bill that would increase the maximum allowable passenger facilities charge that airports can collect to $7.00 from $4.50.

New York’s cash strapped Metropolitan Transportation Authority approved a package of service cuts at its board meeting yesterday to help close a $800 million current year deficit.

The House today is expected to vote on a bill that would reauthorize federal aviation programs and allow airports to ramp up revenue they use to back bonds.

DALLAS — The North Texas ­Tollway Authority yesterday named its underwriting team for $900 million of bonds expected to be issued in the next 90 days, including a $500 million deal that will be the first of its kind in Texas.

Faced once again with less revenue to support the state’s general fund budget, Florida lawmakers are looking at taking money set aside for transportation projects for the second year in a row.

The Senate has approved a Federal Aviation Administration authorization bill that would establish a pilot program giving six airports the ability to set their own passenger facilities charges, which currently are capped at $4.50 and are used to back bonds.

The start date of a long-planned commuter line between Ann Arbor and Detroit has been postponed due to lack of funding.

The Illinois Senate last week approved a bill that would establish the Illinois and Midwest High Speed Rail Commission to oversee initial planning for high-speed rail service. The legislation is expected to be approved by the House and signed by Gov. Pat Quinn.

WASHINGTON — Another extension of federal transportation programs beyond the end of this year is highly possible, a congressional aide and transportation industry sources said at a conference here yesterday.

New York’s Metropolitan Transportation Authority goes to market today with a smaller revenue anticipation note deal than last year, reflecting lower revenue than original expected from a bailout package.

Toll-road bond investors can stop panicking over high gasoline prices.

Democratic Gov. Mark Parkinson joined with two of his Republican predecessors last week to urge Kansas legislators to provide more money for transportation programs.

DALLAS — Amid growing pains in an economic downturn, Austin is considering a second convention hotel while laying the groundwork for a $100 million transportation bond issue.

The Nassau County Bridge Authority plans to market $10.9 million of tax-exempt bonds to retail investors on Wednesday to rehabilitate a draw bridge on Long Island. Institutional pricing is expected to follow on Thursday.

WASHINGTON — There are 10,000 transportation infrastructure projects under way in all 50 states and the District of Columbia with funding from the American Recovery and Reinvestment Act, Vice President Joe Biden announced yesterday.