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Policy updates lift limits on TIFIA loans, letting all transport projects finance up to 49% of costs, aiming for faster, cheaper builds.
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The loan supports construction of bus storage and staging facilities, new ramps accessing the Lincoln Tunnel, and 3.5 acres of publicly accessible open green space — the first phase of a $10 billion plan for a new 2.1-million-square-foot main terminal.
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The new railcars are part of a $2.2 billion expansion and upgrade of the entire BART system that operates 48 million passenger trips annually.
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The IFACGP awards are the latest action by the Biden-Harris Administration to explore innovative finance and delivery options for public entities, create more housing to lower costs for Americans, and support communities with technical assistance.
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Exactly what the new railcars will look like is still being decided; PRT has formed an internal committee to determine what features and amenities should be included.
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The project, slated to be completed this summer, encompasses half a city block in downtown Mount Vernon, Wash., and will be a short walk from Skagit Station, Skagit County’s multi-modal transportation center.
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Expert Services Grants enable recipients to hire expert professionals to develop and deliver public-private partnerships in connection with the development of a specific asset.
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Transit authorities throughout the country are quickly becoming big-time developers…and in more ways than one might have ever thought possible.
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The new initiative, “TIFIA 49,” authorizes borrowing up to 49% of eligible project costs for projects that meet certain eligibility requirements, helping more projects get off the ground.
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Someone asked me recently if public-private partnerships (P3s) are just a fad or a delivery method that will ultimately be the country’s future. There’s no doubt about the answer. Public-private partnerships are here to stay.
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