Category Archives: Take Back Infrastructure

Financial Close on I-66 Raises the Bar on Transport P3s

Robust traffic and revenue forecasts throw open the gates on public benefits for Virginians, by William G. Reinhardt, editor The Nov. 10 financial close on the I-66 toll concession in Virginia raises the bar for developers of demand-risk P3s in … Continue reading

Posted in Take Back Infrastructure | Comments Off on Financial Close on I-66 Raises the Bar on Transport P3s

Careful: Public Benefits Are Vulnerable to Change

“It sounds like VDOT and the citizens of Virginia got a great deal. I am always amazed at how the private sector can come up with innovative funding packages that benefit the surrounding communities and corridor. When it comes to … Continue reading

Posted in Take Back Infrastructure | Comments Off on Careful: Public Benefits Are Vulnerable to Change

VDOT Raises The Bar on P3 Procurements

Virginia DOT gets high praise from Cintra’s team for its efficiency in managing the procurement of the state’s first fully competed P3 project. VDOT issued an RFP in July 2016 that included a fully developed term sheet. Those deal terms … Continue reading

Posted in Take Back Infrastructure | Comments Off on VDOT Raises The Bar on P3 Procurements

Trump’s DOT Flops on Its First TIFIA P3 Loan

Where VDOT raised the bar on its procurement of I-66, the Trump administration fell down in underwriting its first P3 loan, which was finally approved in late October, a year after VDOT had signed its project development agreement with private … Continue reading

Posted in Take Back Infrastructure | Comments Off on Trump’s DOT Flops on Its First TIFIA P3 Loan

Foreign Bidders Dominate Alabama I-10 Demand Risk P3

The Alabama Department of Transportation (ALDOT) in mid-November received Statements of Qualifications (SOQs) from four foreign-led DBFOM teams for a demand-risk P3 to deliver the Mobile River Bridge and Bayway project along 12 miles of the I-10 corridor in Mobile, … Continue reading

Posted in Take Back Infrastructure | Comments Off on Foreign Bidders Dominate Alabama I-10 Demand Risk P3

Build America Bureau Seeks T&R Guidelines

FHWA’s Build America Bureau (BAB) is seeking proposals in early December from consultants to do a forensic analysis of up to eight toll revenue forecasts done to support past TIFIA loans and then to develop guidelines for use by BAB … Continue reading

Posted in Take Back Infrastructure | Comments Off on Build America Bureau Seeks T&R Guidelines

Arup to Pay $100m Damages for “Absurd” Forecast on Brisbane Toll Tunnels

In Australia this month, Arup settled a lawsuit brought by the receivers of the Airport Link in Brisbane, agreeing to pay roughly $100 million of the $2.2 billion in damages sought by lenders for “misleading and deceptive” traffic forecasts that … Continue reading

Posted in Take Back Infrastructure | Comments Off on Arup to Pay $100m Damages for “Absurd” Forecast on Brisbane Toll Tunnels

Lock In Equity

In some cases, according to U.S. traffic consultant Raymond Tillman, toll road developers in the past have sought out aggressive forecasters to produce optimistic revenue projections in hopes of enticing passive investors to buy their equity interest soon after financial … Continue reading

Posted in Take Back Infrastructure | Comments Off on Lock In Equity

The (Mis)Use of Econometric Models in Traffic Forecasting: A Discussion Pape

Robert Bain RBconsult | London | November 2017 In my reviews of toll road traffic and revenue (T&R) forecasts I’m frequently presented with econometric models. Typical uses are for forecasting traffic in a simple, brownfield corridor with limited alternatives or … Continue reading

Posted in Take Back Infrastructure | Comments Off on The (Mis)Use of Econometric Models in Traffic Forecasting: A Discussion Pape

The Revival of Revenue-Risk Highway P3s, by Robert W. Poole, Jr.,

November witnessed the financial close for Cintra/Meridiam’s $3.5-billion revenue-risk P3 concession to rebuild 22 miles of I-66 in northern Virginia, adding express toll lanes in both directions. The TIFIA loan and Private Activity Bonds were rated investment-grade by both Fitch … Continue reading

Posted in Take Back Infrastructure | Comments Off on The Revival of Revenue-Risk Highway P3s, by Robert W. Poole, Jr.,