Finance: North America

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

• USDOT issues NOFO for USD1 billion in BUILD grants [free access]

  February 20, 2020
  The US Department of Transportation (USDOT) has published a Notice of Funding Opportunity (NOFO) for USD1 billion in Fiscal Year 2020 (FY2020) discretionary grant funding through the Better Utilizing Investments to Leverage Development (BUILD) Transportation Discretionary Grants program.

• ODOT and Ohio EPA awarded grants to replace aging bus fleet, US

  February 7, 2020
  The Ohio Department of Transportation (ODOT) and the Ohio Environmental Production Agency (EPA) have awarded seven transit agencies grants amounting to USD7 million through the Ohio Diesel Emissions Reduction Grant (DERG) Program.

• FTA announces USD454 million funding for buses, Washington

  February 7, 2020
  The Federal Transit Administration (FTA) of the U.S. Department of Transportation has announced a Notice of Funding Opportunity (NOFO) to apply for USD454.6 million in competitive grants.

• FTA allocates funds for three BRT projects, US

  February 7, 2020
  The U.S. Department of Transportation’s (USDOT) Federal Transit Administration (FTA) has awarded three grants for three bus rapid transit (BRT) projects under its Capital Investment Grants (CIG) Program.

• Funding secured for Federal Way Link Extension Project, US

  January 24, 2020
  Sound Regional Transit Authority (Sound Transit) has secured USD1.4 billion in federal funding for the development of Federal Way Link Extension Project.

• TriMet receives USD87.4-million CIG grant for Division Transit Project, US [free access]

  January 24, 2020
  TriMet has secured USD87.4 million through the Federal Transit Administration’s (FTA) Capital Investment Grant (CIG) Program for the development of Division Transit Project, a bus rapid transit (BRT) project.

• New York MTA approves 2020 budget

  December 27, 2019
  The New York Metropolitan Transportation Authority (MTA) has approved USD17 billion in its Budget 2020 and four-year financial plan.

• FTA to grant USD423 million for bus infrastructure, US

  December 27, 2019
  The United States (US) Federal Transit Administration (FTA) has announced an award of USD423 million for the development of bus infrastructure to enhance safety and reliability for commuters.

• Minnesota’s Metro Council extends Southwest LRT contract for additional USD21 million, US

  December 20, 2019
  The Metropolitan Council (Metro Council) of Minnesota has announced an increase of USD21 million in a contract awarded for Metro Green Line light rail transit (LRT) extension (Southwest LRT).

• 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.