Financing Surface Transportation in the United States: Forging a Sustainable Future—Now! (2012) / Chapter Skim
Currently Skimming:
Pages 33-36
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From page 33... ...
Now that there are multiple delivery options, including design–build, availability payment and toll concessions, and predevelopment agreements, the challenge is to match the right projects with the right delivery tools. Early P3 initiatives relied on the private sector to identify projects.
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From page 34... ...
Key examples of this approach include the North Tarrant Express and I-635 LBJ managed lanes in Texas and the Port of Miami Tunnel and the I-595 Improvement Project (including high-occupancy toll lanes) in Florida.
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From page 35... ...
These investors may include private equity funds, publicly traded funds, banks and insurance companies, endowments and pension funds, and even sovereign wealth funds. Equity is repaid at the bottom of the annual cash waterfall and involves greater risks than debt.
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From page 36... ...
The North Tarrant Expressway and I-635 LBJ managed lane projects have involved direct pension fund investment. Comment: In Denver, Colorado, sales tax–backed availability payments are a unique risk structure.
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