Revenue pays for necessary investments in surface transportation facilities, including new construction and ongoing operations and maintenance costs. It is also used to finance larger-scale capital investment projects. The Center for Innovative Finance Support encourages the use of innovative revenue sources beyond those derived from the traditional taxes and fees that have supported Federal-Aid Highway Program. The major innovative revenue options include: Road Pricing Revenue and Non-Road Pricing Revenue.
183-A Turnpike - Austin, Texas
The 183-A Turnpike is an 11.6-mile controlled access north-south tolled highway east of the existing US 183 in metropolitan Austin. This regionally significant project connects to the Central Texas Turnpike System, previously funded in part with TIFIA credit assistance. 183-A was developed by the state's first Regional Mobility Authority - CTRMA - which was legislatively authorized in 2001 to form at the county level if a regional toll authority did not already exist to construct, operate, and maintain toll roads. CTRMA opened a northern 5-mile extension of the 183-A in April 2012, fully funded with the sale of toll revenue bonds.
91 Express Lanes - Orange County, California
The 91 Express Lanes is a 10-mile, barrier-separated, variable priced express lane facility - the first priced managed lane facility in the U.S. The lanes, two in each direction, extend from the Costa Mesa Freeway near Anaheim to the Orange/Riverside County Line in Orange County, California. They were constructed as a private, for-profit project in 1995 and purchased by Orange County Transportation Authority in 2003.
95 Express - Miami, Florida
When fully constructed, the 95 Express will provide two express lanes in each direction and additional general purpose lane capacity for approximately 22 miles along I-95 from I-395 in Miami-Dade County to I-595 in Broward County, Florida. Phase 1 is complete, delivered as a design-build-finance project under a federal Urban Partnership Agreement. Phase 2 is a design-build project.
Airport MAX Red Line - Portland, Oregon
The Airport MAX is a 5.5-mile light rail extension to Portland's existing Red Line, connecting Downtown Portland to the Portland International Airport (PDX). As part of a public-private partnership, Bechtel Enterprises funded $28.2 million (23 percent) of the extension's $125.8 million project costs, delivered the extension under a design-build contract, and received an 85-year, rent-free lease to develop the 120-acre mixed-use commercial site near the airport. In addition, the City of Portland funded its portion of project costs (19 percent) by using a form of Tax Increment Financing (TIF).
Alaskan Way Viaduct - Seattle, Washington
The Alaskan Way Viaduct is an elevated section of State Highway SR 99, one of two major North-South corridors in the City of Seattle. Its reconstruction comprises two sections of replacement, one with a new viaduct section and another with a bored tunnel, as well as repairs and enhancements to a third viaduct section. This major project's financial plan includes Federal, state, and local funding, including revenue from increases in Washington State's motor fuel tax as well as toll proceeds.
Anton Anderson Memorial Tunnel - Porter-Whittier, Alaska
The privately operated, 2.6-mile, dual mode Anton Anderson Memorial Tunnel (aka Whittier Tunnel) connects the cities of Porter and Whittier on Prince William Sound, 65 miles southeast of Anchorage, Alaska. The project was funded on a pay-as-you-go basis.
Border West Expressway - El Paso, Texas
The Border West Expressway project, west of downtown El Paso and south of I-10, will close the Loop 375 gap that currently exists along the border with Mexico and create an alternate high-speed route to I-10. The four-lane, partially tolled highway is being fully financed with state funds and includes a 15-year maintenance contract with the project's design-build developer.
CATS LYNX Blue Line Extension - Charlotte, North Carolina
The LYNX Blue Line Extension is a $1.16 billion extension of the existing 9.6-mile LYNX Blue Line light rail that opened in the South Corridor of Charlotte, North Carolina, in 2007. The 9.3-mile extension includes 11 new stations and associated parking facilities and will provide service north to the campus of UNC Charlotte. Funding comes from a federal capital investment grant, a TIFIA loan, the state and city, the Charlotte Area Transit System, and donated right-of-way.
Central Texas Turnpike System
The Central Texas Turnpike System consists of three contiguous toll highways serving the Austin metropolitan region and the Austin-San Antonio corridor: SH 45 North, Loop 1, and SH 130 (Segments 1-4). State and local funding sources were combined with a Federal TIFIA loan to finance the project. SH 130 (Segments 1-4) was delivered via a design-build contract procured through Texas' first application of legislation permitting expanded private sector involvement.
CenterPoint Intermodal Center - Joliet - Joliet, Illinois (Metropolitan Chicago region)
CenterPoint Intermodal Center - Joliet is a 3,600-acre facility housing industrial facilities, Class I rail intermodal centers, and yards for container management. CIC-Joliet is located 40 miles southwest of Chicago, and coupled with its neighbor, CIC-Elmwood, is the largest inland port in the U.S. The Center is currently home to a Union-Pacific Terminal (shown in the photo), a Class I intermodal facility, and has the capacity to accommodate additional facilities. It is partially financed with a private activity bond allocation.
Chicago O'Hare International Airport Consolidated Joint Use Facility Project - Chicago, Illinois
The Project, a multimodal transportation center, consists of a Joint Use Facility, which includes a Consolidated Rental Car Facility (CRCF) with an associated Quick Turn Around facility, an extension to the Airport Transit System (ATS), including the purchase of new ATS vehicles, and a public parking component. The Joint Use Facility will serve as a major access point for O'Hare International Airport and will accommodate rental cars, public parking, bus services, off-airport hotel shuttles, and other commercial shuttles with connectivity to the adjacent O'Hare Metra Rail station and the Chicago Transit Authority O'Hare Blue Line station through use of the ATS.
Chicago Region Environmental and Transportation Efficiency Program (CREATE) - Chicago, Illinois
The CREATE project is an innovative collaboration between freight railroads, the State of Illinois DOT, the City of Chicago DOT, Metra, and Amtrak. CREATE is maximizing the use of four train transportation corridors, including three primarily handling freight traffic and one primarily handling passenger traffic. The project involves 70 improvements, including rail, auto, and pedestrian grade separations using new overpasses and underpasses, as well as viaduct improvements, grade crossing safety enhancements, and extensive upgrades of tracks, switches and signal systems.
Chicago Skyway - Chicago, Illinois
The Chicago Skyway is a 7.8-mile elevated toll road connecting I-94 (Dan Ryan Expressway) in Chicago to I-90 (Indiana Toll Road) at the Indiana border. It was leased to a consortium of Cintra and Macquarie in 2005 for an upfront payment of $1.83 billion, which the City used to pay down Skyway and city debt and establish reserve funds. The Skyway was sold to a Canadian pension fund consortium in 2015 for $2.8 billion.
Crenshaw/LAX Transit Corridor Project - Los Angeles, California
The Crenshaw/LAX Transit Corridor Project is a new 8.5-mile light rail transit line extending from the existing Exposition Line south to LAX, including a minimum of six transit stations (with off-street parking), the procurement of a minimum of 20 light rail vehicles, and the construction of a full service maintenance facility. The project is supported by a TIFIA loan backed by local sales tax revenue, as well as other state funds, including those from general obligation bonds, and additional local sales tax revenue.
Chicago Transit Authority 95th Street Terminal Improvement Project - Chicago, Illinois
The Chicago Transit Authority 95th Street Terminal Improvement Project at the terminus of Chicago Transit Authority's Red Line consists of a redesign of the existing terminal building, surrounding sidewalks, and rail platforms. This project also includes the additional construction of a new south terminal building. The existing 95th/Dan Ryan Terminal is a critical intermodal hub connecting downtown commuters to the Far South Side communities and suburbs through bus connections. The project is being delivered through traditional design-bid-build, funded by TIFIA, federal, state, and local funds.
Chicago Transit Authority Blue Line Project - Chicago, Illinois
The Chicago Transit Authority Blue Line Project (Your New Blue improvement program) is a series of modernization projects along a 19-mile section of Chicago Transit Authority's Blue Line O'Hare Branch. It includes track improvements, traction power and signal upgrades, and station renovations to improve service, reliability, and accessibility. The nearly half-billion dollar, four-year program is being funded by a combination of federal, state, and local sources.
Dallas Area Rapid Transit Project Orange Line Extension (I-3) - Dallas, Texas
The DART Orange Line is a partially open, light rail transit line connecting downtown Dallas with the City of Irving and Dallas/Fort Worth (DFW) International Airport northwest of Dallas. The 14.5-mile, $1.3 billion project is being opened in three sections. The TIFIA loan for this project will advance construction on the third phase of its light rail Orange Line extension project.
Delaware U.S. Route 301 - Northern Delaware
U.S. Route 301 in Northern Delaware will be upgraded to a four-lane, limited access toll road on new location, replacing the existing two-lane route. The 12.5-mile toll road will extend from the Maryland/Delaware state line to SR-1 and will eventually include a 4.5-mile Spur Road extending to SR-15/SR-896. The purpose of the project is to improve safety and relieve congestion problems in the corridor. Fatality rates on the existing roadway are significantly higher than statewide and national averages. Funding for the project will mostly come through the sale of bonds (GARVEEs and toll revenue bonds) and a TIFIA loan backed by toll revenues, achieving the state's goal of minimizing any use of funds from the State Transportation Trust Fund.
Denver Union Station - Denver, Colorado
The Denver Union Station project is a public-private development venture located on approximately 50 acres in lower downtown Denver. Redevelopment of the site as an intermodal transit district surrounded by transit-oriented development will include light and commuter rail stations, a regional bus facility, new transit service, and pedestrian improvements. The project is being sponsored by a public benefit corporation formed by the City of Denver and its elements will be transferred to the Regional Transportation District as they are completed. Financing includes TIFIA and RRIF loans, federal grants and stimulus funding, and state, regional, and local contributions.
Dominion Boulevard Improvement Project - Chesapeake, Virginia
The Dominion Boulevard Improvement Project is a series of improvements to 3.8 miles of Dominion Boulevard, including the replacement of Steel Bridge. After construction, the facility will open as an all-electronic tolled highway as part of the newly designated Chesapeake Transportation System, which includes the Chesapeake Expressway. The project is financed in part through toll revenue backed bonds, and a loan from Virginia's state infrastructure bank.
Elizabeth River Tunnels (Downtown Tunnel / Midtown Tunnel / MLK Extension) - Cities of Norfolk and Portsmouth, Virginia
The Downtown Tunnel / Midtown Tunnel / MLK Extension (Elizabeth River Tunnels) consists of five construction components involving three facilities in the Hampton Roads region of Virginia. The $2.1 billion project is being constructed on a design, build, finance, operate, and maintain (DBFOM) concession basis by Elizabeth River Crossings LLC (ERC) composed of Skanska Infrastructure Development and Macquarie Group. ERC will operate the concession for 58 years. Tolling of the existing Midtown and Downtown Tunnels to help finance the project began in February 2014.
Dulles Corridor Metrorail Project - Northern Virginia
The Dulles Corridor Metrorail Project is the new Silver Line extension of the existing Metrorail system that will extend from the Orange Line's East Falls Church Station in Arlington, Virginia to Route 772 in Loudoun County, Virginia. The extension serves Tysons Corner, Virginia's largest employment center, and the Reston/Herndon area, the region's second largest employment concentration. It also will provide a one-seat ride from Washington Dulles International Airport to downtown Washington, DC.
The Dulles Corridor Metrorail Project is being constructed in two phases and includes 11 new stations upon completion. Phase 1 runs from East Falls Church to Wiehle Avenue on the eastern edge of Reston, Virginia and includes four stations in Tysons Corner - McLean, Tysons Corner, Greensboro and Spring Hill - as well as the Wiehle-Reston East station in Reston. Phase 2 will run from Wiehle Avenue to Route 772 in eastern Loudoun County. Phase 2 will serve Reston Town Center, Herndon, Washington Dulles International Airport, Route 606, and Ashburn (Route 772).
The Project will provide high-quality, high-capacity transit service in the Dulles Corridor. The new Metrorail service will help mitigate traffic congestion, expand the reach of the existing regional rail system, offer a viable alternative to automobile travel, and support future transit-oriented development along the corridor. The Project is being financed with an FTA New Starts grant, three TIFIA loans as well as other state, county, and airport revenues.
Dulles Greenway - Loudoun County, Virginia
The Dulles Greenway is a 14-mile, limited-access, privately financed highway extending from the State-owned Dulles Toll Road - which carries traffic between Washington's Capital Beltway and Dulles Airport - to Leesburg. The two roads connect at a toll plaza. Drivers pay one toll, which the operators of the two facilities divide.
E-470 Tollway - Denver, Colorado
The E-470 is a 47-mile orbital toll road running along the eastern perimeter of the Denver metropolitan area. The tollway was financed entirely by private enterprise and the E-470 Public Highway Authority using an innovative mix of revenue sources including: tolls: vehicle registration fees, a highway expansion impact fee, and private sector contributions ranging from office space, to right-of-way, property assessments, and monetary donations.
Eagle Project - Denver Metro Area, Colorado
The East and Gold Line Enterprise (Eagle) Project is part of RTD's FasTracks, a voter-approved program to expand rail and bus transit throughout the Denver metropolitan region. The Eagle Project is being procured through a concession agreement between RTD and Denver Transit Partners to design, build, finance, operate, and maintain the project's components for 34 years.
East Link Extension - Seattle, Washington Metropolitan Area
The $4.031 billion East Link Extension and included I-90 Two-Way Transit and HOV Operations project will provide a new 14.5-mile Light Rail Transit (LRT) line across Lake Washington linking the Eastside communities of Redman and Bellevue with Mercer Island and Downtown Seattle and eight miles of High Occupancy Vehicle (HOV) lanes across the I-90 Floating Bridge. This multimodal program will be paid for with an innovative financial plan backed by federal, state, local and private stakeholders.
Eleventh Street Bridge Project - Washington, DC
The Eleventh Street Bridge Project replaced the existing twin bridges that carry I-295 over the Anacostia River in the southeast quadrant of the District of Columbia. Three new bridges were constructed and improvements were made to the interchanges at both ends, including adding missing movements to and from the north onto the Anacostia Freeway (I-295/DC 295). Project funding comprised a mixture of federal, local, and private funds including GARVEE bonds used in combination with tapered match.
Foley Beach Express - Baldwin County, Alabama
The Foley Beach Express (Beach Express) is a 13.5-mile limited access, privately-operated four-lane route from the City of Foley to Orange Beach, Gulf Shores, and Perdido Key in Alabama. It is in alternative to the heavily traveled Highway 59.
Foothill/Eastern and San Joaquin Toll Roads - Orange County, California
The Foothill/Eastern and San Joaquin Toll Roads comprise 51 total miles across four public toll roads providing congestion relief and connectivity within Orange County, California. Development impact fees levied on developers of residential and commercial properties are used to supplement toll revenues for debt service payments.
Goethals Bridge Replacement -Staten Island, New York to Elizabeth New, Jersey
The Goethals Bridge project is the reconstruction of a new six-lane, cable-stayed bridge adjacent to the existing bridge and the demolition and removal of the existing bridge. The reconstructed bridge will include a bicycle/pedestrian lane along the northern edge of the New Jersey bound side, as well as a central area between eastbound and westbound lanes to accommodate future transit service. The project is being delivered as a 40-year, design-build-finance-maintain (DBFM) public-private partnership (P3) concession by the NYNJ Link Partnership. The project was financed with a TIFIA loan, private activity bonds, and equity from the private partner.
Grand Parkway (SH 99) Segments D-G - Houston Metropolitan Area, Texas
Grand Parkway (SH 99) Segments D-G is a four lane, 53-mile segment of the planned 180-mile circumferential Grand Parkway toll highway around the Greater Houston Metropolitan Region. This portion includes five segments, situated along the northwest portion of the parkway alignment from just south of I-10 to I-69/US 59N (Eastex Freeway). Project financing includes a TIFIA loan and toll revenue bonds.
Heartland Corridor - Virginia, West Virginia, Kentucky, Ohio
Due to the Norfolk Southern's rail network, the Port of Virginia (Newport News) has always had good rail access to the Midwest markets. The Heartland Corridor project makes the most direct rail route to the major markets of Columbus and Chicago accessible to double-stack container trains and shortens trip-times. Extending through Virginia, West Virginia, Kentucky and Ohio, the Heartland Corridor consists of series of five separate intermodal projects designed to improve mobility and increase freight capacity.
Hudson-Bergen Light Rail - Hudson/Bergen Counties, New Jersey
The $1.0 billion, 9.5-mile initial operating segment was procured using innovative 15-year DBOM contract, resulting in an estimated 8 years in savings compared to a traditional multiple design-bid-build approach. The contract was later renegotiated to cover Segments II ($1.2 billion) and III ($100 million) that extended the rail another 7 miles, adding 8 stations.
I-4 / Selmon Expressway Connector - Tampa, Florida
The I-4 Connector is an elevated north-south toll road that connects I-4 with the Selmon Expressway, two major east-west corridors in the Tampa region. The Connector has exclusive truck lanes to provide direct access to the Port of Tampa and remove commercial traffic from local roads in Ybor City. The $403 million project was delivered using a design-build-finance approach.
I-4 Ultimate - Orlando, Florida
The I-4 Ultimate project is the reconstruction and widening of 21 miles of I-4 from west of Kirkman Road in Orange County, Florida through downtown Orlando to east of State Road 434 in Seminole County. The project is adding four express toll lanes to median of the rebuilt stretch of interstate through a 40-year design-build-finance-operate-maintain availability payment concession, financed in part by a senior bank debt, a TIFIA loan, and private equity.
I-77 HOT Lanes - Charlotte, North Carolina
The I-77 HOT Lanes project will add 26 miles of variably priced managed lanes along I-77 and I-277 in Charlotte, North Carolina north through Mecklenburg and Iredell Counties. The project is being delivered as a 50-year design, build, finance, operate and maintain concession between the North Carolina Department of Transportation and Cintra Infraestructuras, S.A. Financing includes a mix of Private Activity Bonds, a TIFIA loan, public funding, and an equity contribution.
I-95 HOV/HOT Lanes - Fairfax, Prince William, and Stafford Counties, Virginia
The I-95 Express Lanes will be the second step in creating a regional network of tolled managed lanes in Northern Virginia. The project consists of the development, design, finance, construction, maintenance and operation of 29.4 miles of high occupancy toll lanes along I-95 and I-395 from Garrisonville Rd. in Stafford County to Edsall Rd. in Fairfax County over a 76-year concession period.
I-495 Capital Beltway HOT Lanes - Fairfax County, Virginia
The I-495 Capital Beltway HOT Lanes project is a P3 between VDOT and Capital Beltway Express, LLC, a joint venture of Fluor and Transurban. Improvements include 14 miles of twin HOT lanes in each direction, the replacement of more than 50 bridges and overpasses, and interchange upgrades. Financing includes the first-ever combination of TIFIA credit assistance and private activity bonds (PABs).
I-595 Corridor Roadway Improvements - Broward County, Florida
The I-595 Corridor Roadway Improvements project consisted of the reconstruction and widening of 10.5 miles of the I-595 mainline from the I-75/Sawgrass Expressway to I-95. The project has been implemented as an availability-payment P3 between FDOT and a private concessionaire, I-595 Express, LLC, to design, build, finance, operate, and maintain the roadway for a 35-year term. The concessionaire's financing, backed by these availability payments, includes senior bank debt, a TIFIA loan, and private equity.
IH 635 Managed Lanes - Dallas County, Texas
The IH-635 (LBJ Freeway) Managed Lanes Project relieves congestion north of Dallas on a 13-mile stretch of the LBJ Freeway through the reconstruction of its main lanes and frontage roads and addition of six managed lanes along I-635 (subsurface) and I-35E (elevated). The project has been delivered as a P3 between TxDOT and LBJ Infrastructure Group, which will operate and maintain the facility for 52 years.
Indiana Toll Road - Indiana
In operation since 1956, the Indiana Toll Road stretches 157 miles across the northernmost part of Indiana from its border with Ohio to the Illinois state line, where it provides the primary connection to the Chicago Skyway and downtown Chicago. The Indiana Toll Road was leased to a consortium of Cintra and Macquarie in 2006 for an upfront payment of $3.8 billion, which was primarily being reinvested in statewide roadway and bridge improvement projects. The lease was rewarded to a consortium of Australian and American pension funds for $5.7 billion in 2015 following the original consortium's bankruptcy.
Intercounty Connector - Maryland
The 18-mile, 6-lane Intercounty Connector (ICC) is a toll highway in Maryland connecting I-270 in Gaithersburg and US 1 in Laurel. The road links existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County, north of Washington, DC. The project is largely supported by GARVEE and toll revenue bonds, as well as a TIFIA loan and State Transportation Trust Fund and General Fund revenues.
Interlink (formerly Warwick Intermodal Station) - Warwick, Rhode Island
Interlink, formerly the Warwick Intermodal Station project, is an intermodal project connecting air, rail, bus, automobiles, and rental cars at T.F. Green Airport in Warwick, RI that serves the Providence area and Southern Massachusetts. The project consisted of construction of a new commuter rail station with an enclosed walkway connection to the airport and a consolidated rental car center and parking garage.
Katy Freeway Reconstruction - Houston, Texas
TxDOT undertook a major five-year reconstruction of a 12-mile section of the east-west Katy Freeway from west of SH 6 to the I-10/610 interchange west of Houston. The reconstruction widened the Katy to provide six general purpose highway lanes in each direction and two variably priced high occupancy toll lanes in the median of the highway. The financing of the $2.8 billion project has involved an innovative collaboration between TxDOT and the Harris County Toll Road Authority, combining toll-backed debt with more traditional grant funding.
King Coal Highway - West Virginia
The King Coal Highway is a planned four-lane highway approximately 90 miles long running through McDowell, Mercer, Mingo, Wyoming, and Wayne counties along or near currently existing US Route 52. The highway is divided into 11 usable and operationally independent sections. Some of the construction work is being done by local mining companies as they extract coal from the surrounding areas near and on the new highway alignment.
LA 1 Improvements - Leeville, Louisiana
Phase I of this project has replaced approximately nine miles of elevated highway and the Leeville Bridge in Southern Louisiana, which had suffered from subsidence, erosion, and frequent storm damage. The highway features open road tolling and was constructed within an area of sensitive wetlands.
Las Vegas Monorail - Las Vegas, Nevada
The Las Vegas Monorail was originally a joint venture between MGM Grand and Bally's Hotel, creating a one-mile system linking the hotels in 1993. Plans for expansion further along the Strip led to the State of Nevada in 1997 passing legislation that enabled a private company to own, operate, and charge a fare as a public monorail system. It expanded the system to 3.9 miles in 2004.
Louisiana TIMED Program - Louisiana (statewide)
The TIMED (Transportation Infrastructure Model for Economic Development) Program was a $5.2 billion transportation infrastructure program designed to increase economic development in Louisiana by investing in transportation improvement projects. The innovative capital program was financed by a 4-cent gas tax and expedited by a partnership with a private program manager.
Miami Intermodal Center - Florida
Located next to the Miami International Airport (MIA), the Miami Intermodal Center is a large ground transportation hub incorporating a Rental Car Center, the Miami Central Station serving local rail transit, commuter rail, Amtrak, and intercity bus transit, major roadway improvements, the MIA Mover and future joint development. Federal, state, and local funding supported this $2 billion program.
Midtown Express (SH 183 Managed Lanes) - Dallas-Fort Worth Metroplex
The Midtown Express, formerly the SH 183 Managed Lanes Project, will add tolled express lanes and reconstruct portions of State Highway 183, SH 114 and Loop 12 northwest of Dallas, Texas. The project is being delivered using an innovative public-private partnership structure that combines design-build with a short-term receivables (gap) financing and long-term operations and maintenance.
Monroe Expressway - Mecklenburg and Union Counties, North Carolina
The Monroe Expressway will be a new, 20-mile all-electronic toll road in Mecklenburg and Union Counties, North Carolina. The Bypass will provide a high-speed alternative to US 74 in the region. The project is supported through a variety of bond proceeds, including GARVEEs.
New NY Bridge (Tappan Zee Bridge Replacement) - Westchester to Rockland Counties, New York
The "New NY Bridge" will replace the Tappan Zee Bridge spanning the Hudson River between Westchester and Rockland Counties 20 miles north of New York City. The new bridge is a tolled, eight-lane, dual-span twin bridge, being constructed alongside the current bridge to provide the least traffic disruption to users. The project is being delivered under a design-build contract and is financed with a combination of bonds and a TIFIA loan. The project is expected to be completed in 2018.
NoMa - Gallaudet U Metrorail Station - Washington, DC
The NoMa - Gallaudet U station, formerly known as the New York Avenue station, opened in 2004 as the Washington Metrorail's first infill station. The station was funded through a unique partnership between the District of Columbia, developers and property owners, community leaders, and WMATA. The private sector and local property owners funded $35 million (34 percent) of the $104 million project cost through land donations ($10 million) and the creation of a special assessment district ($25 million).
North Tarrant Express (I-820 and SH 121/183) - Dallas-Fort Worth Metroplex
TxDOT entered into a public-private partnership with NTE Mobility Partners for the design, construction, finance, maintenance, and operation of 13 miles of roadway improvements along I- 820 and SH 121/SH 183 north and east of Fort Worth. The duration of the concession for this first phase of the North Tarrant Express (NTE) is 52 years. The roadway is being reconstructed with the addition of two managed lanes and an additional general purpose lane in each direction. Under a separate agreement, the private partner examined other segments in the region for development as part of the NTE, leading to a third agreement to pursue the NTE 35W Project.
North Tarrant Express 35W Project - Dallas-Fort Worth Metroplex, Texas
The North Tarrant Express (NTE) 35W Project consists of the design, construction, operations, and maintenance of approximately 12 miles of managed lanes, associated improvements to adjacent cross-roads, frontage roads, and ramps, and the intelligent transportation systems (ITS) and tolling systems on two segments of I-35W in Fort Worth, Texas. Segment 3A is being designed and constructed via a public-private partnership between the Texas Department of Transportation (TxDOT) and the NTE Mobility Partners. TxDOT is responsible for the financing and construction of Segment 3B, excluding tolling and ITS. The concessionaire will perform operations and maintenance for the entire facility, including the 3B portion constructed by TxDOT.
Northwest Corridor - Atlanta, Georgia
The Northwest Corridor project will include extensions of existing HOV lanes and the addition of reversible tolled managed lanes along sections of nearly 30 miles of I-75 and I-575 northwest of Atlanta. The nearly $850 million project is being delivered using a design-build-finance approach.
Northwest Parkway - Denver Metro Region, Colorado
The Northwest Parkway is a 9-mile segment of the Denver Beltway System, connecting E-470 in northern Denver to U.S. 36 in Broomfield. The project was developed by a three-municipality joint powers agency and opened in 2003. It was subsequently leased in 2007 to a private consortium for 99 years after four years of toll revenues that did not meet expectation.
Ohio River Bridges Downtown Crossing - Louisville, Kentucky/Southern Indiana
The Ohio River Bridges Downtown Crossing project is one half of the bi-state Ohio River Bridges project, which also includes the East End Crossing project, that together are addressing cross-river capacity and mobility needs in the greater Louisville-Southern Indiana region. The project consists of the new Abraham Lincoln Bridge carrying northbound I-65 across the Ohio River between Louisville and Southern Indiana. In the background is the existing Kennedy Bridge that carries the southbound lanes. The Downtown Crossing project also includes the reconstruction of the Kennedy Interchange in downtown Louisville to eliminate design deficiencies and safety hazards. The project has been delivered an availability-pay design-build-finance-operate-maintain concession.
Ohio River Bridges East End Crossing - Southern Indiana/Louisville, Kentucky
The Ohio River Bridges East End Crossing project is one half of the bi-state Ohio River Bridges project, which also includes the Downtown Crossing project, that together are addressing cross-river capacity and mobility needs in the greater Louisville-Southern Indiana region. The project consists of a new East End Bridge and approaches connecting I-265/KY 841 in Kentucky to I-265/SR 265 in Indiana. The project has been delivered an availability-pay design-build-finance-operate-maintain concession.
Orchard Pond Parkway - Tallahassee, Florida
The Orchard Pond Parkway is a 5.2-mile privately constructed toll road north of Tallahassee, Florida. The road was developed by a private landowner as a means to preserve the surrounding region from suburban development, and it incorporates a number of features to protect wildlife and the natural environment. The Florida Department of Transportation has supported the project financially with a State Infrastructure Bank loan that covers 80 percent of the $17 million project cost. Leon County owns the road and is leasing it back to the developer for 99 years.
Pocahontas Parkway / Richmond Airport Connector - Greater Richmond, Virginia
This $354 million project was financed by tax-exempt toll revenue bonds issues by a 63-20 corporation. It was the first transportation project implemented under Virginia's Public-Private Transportation Act of 1995. The Parkway was leased to a private toll road operator in 2007. The deal defeased its underlying debt and included the construction of the 1.6-mile Richmond Airport Connector, which opened in January 2011. The Parkway changed hands in 2015 and again in 2016 after the initial private operator first transferred ownership to its senior lenders in May 2014.
Poinciana Parkway - Osceola and Polk Counties, Florida
Originally planned for development by a private real estate firm in the 2000s, the Poinciana Parkway was ultimately developed under an agreement between Osceola and Polk Counties and the developer, who donated existing work on design, permitting, and right-of-way. The $141 million, 9.7-mile arterial and toll road improvement connects the Poinciana community 25 miles south of Orlando with a major state route and I-4 to provide better commuting access and congestion relief. In addition to the private developer contribution, the project is financed with toll revenue bonds, a State Infrastructure Bank loan, and county contributions.
Portland Streetcar - Portland, Oregon
The Portland Streetcar network is a 14.7-mile modern streetcar network in Downtown Portland, Oregon. Property owners along the proposed alignment agreed to establish a special property tax levy through the formation of a Local Improvement District (LID), funding approximately 13.9 percent ($34.9 million) of the $251.4 million project. In addition, Tax Increment Financing also contributed to 8.2 percent ($21.5 million) of total project costs.
Potomac Yard Metrorail Station - City of Alexandria, Virginia
The City of Alexandria, Virginia negotiated exactions for developer contributions in return for land rezoning, dedicated net new tax revenues, and created two special assessment districts to fund the project costs of a proposed infill station on the Washington Metrorail system. The Potomac Yard station - estimated to begin construction in 2016 and open to service in 2018 - is the cornerstone of the redevelopment plan for the Potomac Yard, a 295-acre former rail yard near the Potomac River.
President George Bush Turnpike - North Dallas, Texas
The President George Bush Turnpike (PGBT) is a six-lane 30.5-mile circumferential toll highway connecting various cities in the northern part of Dallas County and portions of neighboring Denton and Collin Counties. This original segment opened in phases between 1998 and 2006. It was the first project to benefit from USDOT's TE-045 innovative finance provisions including a Section 129 loan, partial conversion of advance construction, and the use of flexible match. Construction on a 9.9-mile Eastern Extension began in October 2008 and was opened in December 2011. Financing for the extension included toll-backed revenue bonds and other state and local resources.
President George Bush Turnpike Western Extension (SH 161) - Dallas, Texas
State Highway (SH) 161, the President George Bush Turnpike Western Extension (PGBT WE), provides a new, approximately 11.5-mile link between SH 183, I-30, and I-20 as part of a western loop around Dallas through the cities of Irving and Grand Prairie south of Dallas-Fort Worth International Airport. This toll road was completed in four phases. The first three were constructed by TxDOT and the remaining phase and overall ownership and operation became the responsibility of the North Texas Tollway Authority under a concession agreement signed in 2008.
Puerto Rico PR-22 and PR-5 Lease - Puerto Rico
PR-22 and PR-5, heavily traveled toll roads stretching about 55 miles along the northern coast of Puerto Rico from Bayamon westward through San Juan to Arecibo, was leased to consortium of Goldman Sachs and Abertis in 2011. The total $1.436 billion administrative concession will finance, rehabilitate, operate, and maintain the facilities over 40 years. Of that total, $1,080 million is an upfront payment of which about 90% was used to defease all outstanding tax-exempt toll-revenue debt ($902 million), and approximately $350 million will be expended on expected upgrades over the concession period, $56 million of which was spent in the first three years on "accelerated safety improvements."
Regional Connector Transit Corridor Project - Los Angeles, California
The Regional Connector Transit Corridor Project is a 1.9-mile underground light rail connection between the Little Tokyo/Arts District Station to the 7th Street/Metro Center Station in downtown Los Angeles, California. The Regional Connector extends from the Metro Gold Line and will allow passengers to transfer to the Metro Blue, Exposition, Red, and Purple Lines, bypassing Union Station, while providing one-seat ride for travel across Los Angeles County. The project will be delivered as a design-build project. It will be financed through federal, state, and local sources, including a TIFIA loan and an FTA New Starts Full Funding Grant Agreement.
Reno Transportation Rail Access Corridor (ReTRAC) - Reno, Nevada
Traffic congestion and safety concerns brought about the largest public works project ever undertaken in Northern Nevada, the Reno Transportation Rail Access Corridor, or ReTRAC. The project depressed a 2.3-mile stretch of freight rail that ran through downtown, eliminating 10 at-grade street crossings.
Riverwalk Expansion/Wacker Drive Reconstruction Project - Chicago, Illinois
The Riverwalk Expansion, which included the final phases of the Wacker Drive Reconstruction Project, is a pedestrian walkway running six blocks along the Chicago River from State Street to Lake Street. Each block features a distinct theme, facilitating different recreational and transportation activities. A TIFIA loan helped fund most of two of three phases of the Riverwalk, and will be repaid with project-generated revenues, including tour boat, retail leasing, and advertising fees.
Route 3 North - Boston, Massachusetts
Financed using tax-exempt 63-20 debt and leveraging lease payments pledged by the Massachusetts Highway Department, the Route 3 North project involved widening an existing 21-mile highway northwest of Boston from two to three lanes in each direction. The project included the creation of a 30-foot median to accommodate fiber optic line and other utilities, and the replacement of 40 bridges.
Route 28 Corridor Improvements - Northern Virginia
In 1987, property owners in Fairfax and Loudon Counties agreed to establish an additional property tax through the creation of a special assessment. Revenue has been dedicated to major highway improvements along the Route 28 corridor, including widenings and interchange reconstruction.
Route 33 Interchange Project - Easton, Pennsylvania Region
The Route 33 Interchange Project in Palmer Township, Pennsylvania (65 miles north of Philadelphia) involved the construction of a new interchange and associated access improvements to facilitate the mixed-use commercial development of over 600 acres of surrounding land. The interchange was constructed by PennDOT and other infrastructure improvements are being made by a private owner who is selling parcels of land to other third party developers. Tax increment financing provided partial funding for the improvements.
SH 45SW - Austin, Texas
SH 45SW is a four-lane toll road under development by the Central Texas Regional Mobility Authority between the southern end of MoPac Expressway (Loop 1) and FM 1626 southwest of Austin, Texas. The $100 million project uses no federal funds, relying solely on state funds and debt along with contributions from Travis and Hays Counties, through which the road passes.
SH 130 (Segments 5-6) - Austin, Texas Metropolitan Area
SH 130 is a four-lane, 91-mile toll road east and south of Austin designed to relieve congestion on the heavily traveled I-35, the primary north-south route through Central Texas. Segments 5 and 6 have been developed through a 50-year concession (Comprehensive Development Agreement) with the SH 130 Concession Company (a joint venture of Cintra and Zachry American Infrastructure). They were financed with senior bank debt, a TIFIA loan, and private equity. Segments 1-4 were constructed under a design-build project as part of the Central Texas Turnpike System.
SH 288 Toll Lanes - Houston, Texas
The SH 288 Toll Lanes project is located in Harris County, Texas and involves the development, design, construction, financing, operation, and maintenance of four new toll lanes that stretch 10.3 miles along the median of SH 288, which extends from downtown Houston south toward the Gulf of Mexico. The P3 DBFOM concession also includes the maintenance of the existing general purpose lanes along the corridor. The concessionaire's financing includes a combination of private activity bonds, a TIFIA loan, private equity, and public funding for direct connector ramps to the Texas Medical Center.
South Bay Expressway (formerly SR 125 South Toll Road) - San Diego County, California
The South Bay Expressway toll road is a 9.2-mile privately-funded southern extension of SR 125, extending from SR 905 near the International Border to SR 54 near Sweetwater Reservoir in San Diego, California. The original operator, South Bay Expressway, L.P., held a 35-year franchise with the State of California under which it financed and built the highway, then transferred ownership to the State. The concessionaire emerged from bankruptcy in April 2011 as South Bay Expressway, LLC, and sold the toll road to the San Diego Association of Governments in December 2011.
South Lake Union Streetcar - Seattle, Washington
The South Lake Union Streetcar project is a 2.6-mile modern streetcar connecting the South Lake Union area to Downtown Seattle, Washington. Forming the centerpiece of an innovative funding package, local businesses and property owners along the proposed alignment agreed to establish a special property tax levy through the formation of a Local Improvement District (LID), funding approximately 47 percent ($25 million) of the $53.5 million project.
Southern Connector - South Carolina
The Southern Connector is a 16-mile toll road connecting I-85 to I-395 in Greenville, South Carolina. The project is a DBFOM P3 developed by Connector 2000 Association Inc., a 63-20 non-profit corporation that holds a 50-year license with the state and issued tax-exempt toll revenue bonds to finance the project.
SR 91 Corridor Improvement Project - Riverside County, California
The SR 91 Corridor Improvement Project is an eight-mile extension of the Orange County SR 91 Express Lanes east into Riverside County through conversion of existing HOV lanes. Two general purpose lanes will also be added, along with improvements made to interchanges and bridges. The project is supported by a TIFIA loan and is almost exclusively paid for with local funding through a combination of toll revenue and voter-approved county-level sales tax proceeds.
SR 520 Floating Bridge - Seattle, Washington Metropolitan Area
SR 520 is one of two major east-west roadways crossing Lake Washington, located within King County and the Seattle metropolitan area in the State of Washington. The SR 520 Floating Bridge and Eastside plus West Approach Bridge Project includes the replacement of the existing floating bridge across Lake Washington, the widening of the roadway to the east and accommodation of a transit/HOV lane, and the west approach project connecting to the floating bridge on the Seattle side. Project financing includes toll-backed revenue bonds and a TIFIA loan supported by tolls collected on the existing and replacement bridges, in combination with other federal and state funding.
Teodoro Moscoso Bridge - San Juan to Carolina, Puerto Rico
The Teodoro Moscoso Bridge spans the San JosÃ© Lagoon, running from San Juan to Carolina. It was constructed in 1994 as a design, build, operate, and maintain P3 project. The bridge is tolled, and at its opening featured an electronic tolling system capable of accepting, cash, credit cards, and electronic tag system.
State Street Redevelopment Project - West Lafayette, Indiana
The City of West Lafayette, Indiana and Purdue University are jointly delivering the State Street Redevelopment Project to provide aesthetic and functional improvements to gateways into West Lafayette and Purdue University. The project improved the streetscape and provides pedestrian amenities to enhance community and campus resident cohesiveness, and expanded transportation infrastructure to accommodate planned and future growth of West Lafayette and the University. The project is being delivered through an innovative design-build-finance-maintain availability payment P3 backed by tax increment finance district revenue.
Transbay Transit Center - San Francisco, California
The Transbay Transit Center Project will replace the current Transbay Terminal with a new multimodal transportation center and centralize the region's transportation network by accommodating nine transportation systems under one roof. The project consists of replacing the outdated Transbay Terminal with a modern transit hub, extending the Caltrain rail line from its current terminus and accommodating high-speed rail, and redeveloping the area surrounding the Transbay Transit Center.
Triangle Expressway - Raleigh-Durham, North Carolina
The 18.8-mile Triangle Expressway, composed of three sections, provides congestion relief on existing north-south routes serving the Research Triangle Park region (including I-40) between Raleigh and Durham. The project is being financed with toll and state revenue bonds and a $386 million TIFIA loan.
U.S. 36 Express Lanes (Phase 1) - Denver Metro Area, Colorado
The U.S. 36 Express Lanes Phase 1 is an initial 10-mile phase of improvements, including one HOT lane in each direction, along 15 miles of roadway between Denver and Boulder, Colorado. This $312 million first phase opened in July 2015 under a design-build contract. A second phase, which opened in January 2016, completes the improvements. The full corridor is operated and maintained by a private partner that developed Phase 2.
U.S. 36 Express Lanes (Phase 2) - Denver Metro Area, Colorado
Phase 2 of a 15-mile reconstruction and expansion of U.S. 36, a four-lane divided highway connecting Denver and Boulder, extends the 10-mile Phase 1 project five miles further northwest to Boulder. The corridor was reconstructed and augmented with a single HOT lane in each direction. The project also included the reconstruction or rehabilitation of three bridges, accommodations for bus rapid transit, provision for ITS, improvements to a commuter rail station, and a bikeway. Phase 2 has been delivered as a DBFOM P3. In addition to the Phase 2 construction, the concessionaire will operate and maintain the entire U.S. 36 Express Lanes corridor as well as the existing I-25 Express Lanes, which connect at its southern terminus.
U.S. 183 South / Bergstrom Expressway - Austin, Texas
The US 183 South / Bergstrom Expressway project will be an 8-mile highway and express toll facility in Austin, Texas, connecting US 290 and SH 71. The project consists of six tolled main lanes in the median of US 183 and four to six upgraded general purpose lanes. The $860 million project will provide a reliable north-south alternative to congested I-35 and direct access to Austin's airport. The project is financed with a combination of toll-backed bonds, loans and grants from TxDOT, and a TIFIA loan.
Westside Purple Line Extension, Section 1 - Los Angeles, California
The Westside Purple Line Extension comprises a three phase, 8.9 mile station-to-station subway heavy rail line that would operate as an extension of the LA Metro's existing Purple Line from its current terminus at Wilshire/Western Station to a new western terminus in West Los Angeles near the Veterans Affairs (VA) Hospital in Westwood. Section 1 will extend the Purple Line 3.9 miles from Wilshire/Western to Wilshire/La Cienega and includes three stations. Section 1 is being procured as a design-build, and will be financed through federal, state, and local sources, including a TIFIA loan and an FTA New Starts Full Funding Grant Agreement.
Wekiva Parkway Project - Orlando Metropolitan Region, Florida
The Central Florida Expressway Authority is constructing 10 miles of the planned 25-mile Wekiva Parkway that will complete the beltway around northwest metropolitan Orlando. A TIFIA loan is helping to accelerate completion of these sections of toll highway from 2019 to 2018.