After a long hiatus, we bring you the TIFIA Times, your e-mail newsletter concerning the US Department of Transportation's credit program for large-scale surface transportation projects. We encourage you to share this newsletter with your associates throughout the transportation finance community.
The Federal Highway Administration (FHWA), on behalf of USDOT, will be seeking to award legal and financial advisory task order contracts to assist the Transportation Infrastructure Finance and Innovation Act Joint Program Office (TIFIA JPO) in evaluating applications and negotiating credit agreements for those projects seeking federal credit assistance. The legal and financial firms will provide expertise reviewing and drafting the legal terms of credit agreements and analyzing the financial and credit aspects of projects.
The solicitations and all related documents and amendments, if any, will only be released and available electronically at the FedBizOpps site which will list all the FHWA business opportunities sorted by posted date. The solicitations and related documents will be posted under the RFP number. Interested parties must download the RFP from that site. NO WRITTEN, TELEPHONIC, FACSIMILE, OR E-MAIL REQUESTS will be honored. Since these solicitations will only be available electronically, it is the responsibility of interested parties to monitor the FebBizOpps website for any solicitation amendments. Interested parties can register at the FebBizOpps site to receive e-mail notifications of postings.
Please note that FedBizOpps has a feature called "Interested Vendors List." Those interested in subcontracting, supplying, consulting, teaming and the like should register, and contractors may find it helpful to review the names posted there. The estimated release date of the RFPs is March 31, 2004.
The TIFIA Joint Program Office has received applications from IdleAire Technologies Corporation, Louisiana Transportation Authority (LTA) and Las Vegas Monorail Company (LVMC) seeking $496 million in credit assistance to support projects totaling an estimated $1.8 billion. The IdleAire application seeks $300 million in credit assistance to support a project with estimated total costs of $1.1 billion. IdleAire's proposal involves the implementation of an Advanced Truck Stop Electrification project that would enable truck drivers to turn off their engines during rest periods while still having access to cab heating, air-conditioning, electrification and other amenities. The proposed TIFIA credit assistance in conjunction with $682 million in senior bonds would help advance this project which is intended to reduce idling emissions, improve sleep for long haul truck drivers and improve highway safety.
The Louisiana Transportation Authority (LTA) is seeking a $52 million loan to support the $158 million LA-1 project in Lafourche Parish, Louisiana. The TIFIA credit assistance will help construct a 16.3 mile arterial four-lane, fully-controlled access, elevated highway. Phase I of this project, to which the TIFIA loan will be applied, includes the construction of a two-lane bridge over Bayou Lafourche at Leeville and a two-lane elevated span from Leeville south to Hwy. 3090. The project received a Record of Decision in January of 2003 and is exploring tolling options as part of its funding package.
The Las Vegas Monorail Company (LVMC) is seeking a $144 million loan to support the Las Vegas Corridor Downtown Extension project which encompasses the design and construction of a 2.3-mile dual guideway monorail in downtown Las Vegas. The project is a continuation of the 3.7-mile base monorail system scheduled to begin service in the first quarter of 2004. The combined system will include 6-miles of dual guideway, eleven stations, and operations, maintenance and storage facilities. The base monorail system has been completely financed and built with private funds. The total estimated cost of the downtown extension is $461 million of which $431 million are eligible TIFIA costs. The LVMC proposes to fund the downtown extension with the combination of a TIFIA loan, farebox-backed bonds, an FTA Full Funding Grant Agreement and other grants and local monies.
Jo Anne McGowan has joined the TIFIA Joint Program Office on a detail from the Federal Railroad Administration (FRA). Jo Anne brings tremendous knowledge of rail programs with over 30 years in FRA where she has managed the Local Rail Freight Assistance Program and most recently the Railroad Rehabilitation and Improvement Financing Program (RRIF). Given the intermodal nature of the TIFIA office, we have regularly benefited from Jo Anne's expertise and assistance from her post in FRA and are extremely pleased to welcome her aboard.
The mailing address for the TIFIA Credit Program is:
Federal Highway Administration (HABF-50)
400 Seventh Street, S.W.
Washington, DC 20590
Please e-mail your comments or inquiries regarding this newsletter or the TIFIA program to: Duane.Callender@fhwa.dot.gov.
TIFIA Credit Program
US Dept. of Transportation