Finance: North America

Developments in transport finance, PPP, debt, equity, M&A deals from North America

• CDPQ acquires stake in NRT Consortium, Australia

  November 29, 2019
  Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, has acquired a 24.9 per cent stake in the Northwest Rapid Transit (NRT) Consortium, the operator of Sydney Metro Northwest Line.

• Federal funds granted for bus projects in 18 states, US [free access]

  November 21, 2019
  The U.S. Department of Transportation’s (USDOT) Federal Transit Administration (FTA) has allocated grants amounting to approximately USD136.82 million for bus projects across 18 states in the US.

• IBank approves USD3.2 billion bond for Victorville–Las Vegas HSR project, US

  November 20, 2019
  The California Infrastructure and Economic Development Bank (IBank) has approved USD3.2 billion as a tax-exempt, fixed-rate revenue bond for the development of the Victorville–Las Vegas high-speed rail (HSR) project.

• Proposed Route 7 BRT cost escalates, Virginia

  November 15, 2019
  The cost of the proposed Route 7 bus rapid transit (BRT) corridor connecting Tysons Corner to Alexandria in Virginia has escalated and is now estimated at USD507 million.

• Cleveland RTA receives funds from state transportation budget, US

  October 28, 2019
  The Greater Cleveland Regional Transit Authority (RTA) has received USD15.3 million from the Ohio state transportation budget.

• USDOT allocates funds for Virginia Street BRT extension project, US

  October 11, 2019
  The United States Department of Transportation’s (USDOT) Federal Transit Administration (FTA) has allocated a USD40.4 million grant for the development of the Virginia Street Bus Rapid Transit (BRT) Extension project in Reno, Nevada.

• FTA grants USD75 million for Tempe Streetcar project, US

  September 25, 2019
  The U.S. Department of Transportation’s Federal Transit Administration (FTA) has allocated USD75 million in grant funding to Valley Metro for the Tempe Streetcar project in Tempe, Arizona.

• Capital Metro approves USD403.7 million budget; releases new version of mobile app, US

  September 23, 2019
  The Capital Metropolitan Transportation Authority/Capital Metro, the public transportation provider for Austin, has approved a USD403.7 million budget.

• FTA announces funds to support transit planning, US

  September 18, 2019
  The U.S. Department of Transportation’s Federal Transit Administration (FTA) has announced plans to allocate USD19.2 million to support comprehensive planning that improves access to public transit under its Pilot Program for Transit-Oriented Development (TOD) Planning.

• New York’s MTA unveils USD51.5 billion 2020–24 Capital Plan, US

  September 17, 2019
  The New York Metropolitan Transportation Authority (MTA) has released its 2020–2024 Capital Plan, which proposes an investment of USD51.5 billion in the region’s subways, buses, and railroads to support the Subway Action Plan and to improve the reliability and accessibility of the system.

• Waterloo secures federal funding for five transit projects, Canada

  August 30, 2019
  The Government of Canada has announced plans to provide funding of more than CAD57 million for five transit projects in Waterloo through the Public Transit Infrastructure Stream (PTIS) of the Investing in Canada infrastructure plan.

• Metra funds Clarendon Hills commuter rail station, US

  August 30, 2019
  Chicago commuter rail operator Metra has announced plans to invest USD1 million to construct a train station in the village of Clarendon Hills.

• FTA allocates funds for BART Silicon Valley Phase-2 project, US

  August 29, 2019
  The Federal Transit Administration (FTA) has allocated USD125 million to the Santa Clara Valley Transportation Authority (VTA) for the Bay Area Rapid Transit (BART) Silicon Valley Phase-2 project through its Expedited Project Delivery Pilot Program.

• FTA allocates USD2.2 million funding for King County Metro, US

  August 27, 2019
  The U.S. Department of Transportation’s Federal Transit Administration (FTA) has announced a funding grant of USD2.2 million to King County Metro, Washington for the modernization of its bus fleet through its Low or No Emission (Low-No) Vehicle Program.

• Barrie, Orillia, and Midland transit projects to receive CAD20 million in funding, Canada

  August 22, 2019
  The provincial government of Ontario has announced plans to invest CAD20 million in 11 transit projects across Barrie, Orillia, and Midland through the federal government’s Investing in Canada Infrastructure Program (ICIP) to increase ridership and improve transit service.

• Sound Transit approves funding of USD60 million for Pierce County BRT, US

  August 22, 2019
  The Central Puget Sound Regional Transit Authority (Sound Transit), the public transport agency of Seattle, has allocated USD60 million in funding to Pierce County for its bus rapid transit (BRT) project as part of its Sound Transit 3 (ST3) measure.

• FRA approves USD272 million grant for rail infrastructure projects, US

  August 22, 2019
  The largest share of USD76.8 million will be awarded to the North Carolina Department of Transportation (NCDOT) for the Piedmont services rolling stock acquisition.

• Quebec to receive CAD1.2 billion for public transport project, Canada

  August 20, 2019
  The Government of Canada has announced plans to invest CAD1.2 billion, through the Investing in Canada infrastructure programme, in Quebec’s CAD3.3 billion public transport project.

• FRA announces funding opportunity for rail infrastructure and safety projects, US

  August 16, 2019
  The Federal Railroad Administration (FRA) has issued a Notice of Funding Opportunity (NOFO) for the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program.

• Natural Resources Canada to fund bus charging infrastructure for Newmarket, Canada [free access]

  August 15, 2019
  Natural Resources Canada (NRCan), under its Green Infrastructure Program (GIP), has announced plans to provide CAD956,338in funding to Newmarket-Tay Power Distribution Limited (Newmarket-Tay Power) to support the overhead charging system for transit electrification.