Finance: North America

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

• MassDOT funds CNG bus procurement for MetroWest, US

  December 13, 2018
  The Massachusetts Department of Transportation (MassDOT) has awarded a USD2-million grant through the Communities in Transit programme to the MetroWest Regional Transit Authority to replace 24 aging buses.

• New York MTA approves 2019 budget

  December 13, 2018
  The New York Metropolitan Transportation Authority (MTA) has approved its USD17-billion budget for fiscal year 2019.

• FTA funds five New Starts projects, FFGA for Orange County Streetcar

  November 30, 2018
  The United States Department of Transportation’s Federal Transit Administration (FTA) has awarded USD281 million in additional funding in the fiscal year 2018 through its Capital Investment Grants (CIG)/ New Starts Program to five transit projects in Arizona, California, Minnesota and Texas.

• New York state funds for rail infrastructure improvements

  November 20, 2018
  The Governor of New York has awarded grants of a total value of USD27.1 million under the Passenger and Freight Rail Assistance Program for rail infrastructure improvements across the state.

• Brightline forms partnership with Virgin Group and rebrands in US

  November 19, 2018
  Brightline, the US-based private intercity passenger railroad operator, has announced strategic partnership and trademark licensing agreement with the UK-based Virgin Group.

• British Columbia transit projects secure funding [free access]

  November 16, 2018
  The Government of Canada and the Provincial Government of British Columbia (BC) have announced plans to allocate CAD136 million for implementation of five transit projects across the province.

• New York MTA to acquire Grand Central Terminal and rail assets

  November 14, 2018
  The New York Metropolitan Transportation Authority (MTA) Board’s finance committee has approved plans to acquire the Grand Central Terminal for USD35 million.

• Chicago’s Metra approves 2019 operating and capital budget, US

  November 12, 2018
  The Metra Board of Directors have approved the 2019 operating budget of USD822.2 million, a 3.1 per cent increase over the 2018 budget.

• STM approves 2019 budget and 2019-2028 capex programme, Canada

  November 8, 2018
  The Société de Transport de Montréal (STM) has approved the CAD1.5-billion 2019 Budget and the CAD15.6 billion 2019-2028 capital expenditures (capex) programme.

• Alberta to invest in Edmonton LRT expansion, Canada [free access]

  November 1, 2018
  The Province of Alberta has announced plans to invest CAD1.04 billion in the Valley Line light rail transit (LRT) expansion and gain a 40 per cent stake in the project.

• Virginia announces fund for electric bus procurement, US

  November 1, 2018
  The Commonwealth of Virginia has announced plans to allocate USD14 million to local transit authorities to support the replacement of their aging bus fleets with electric buses.

• Vancouver TransLink secures funds for bus fleet expansion

  October 28, 2018
  Metro Vancouver has allocated CAD142 million from federal gas tax funds to the South Coast British Columbia Transportation Authority (TransLink) to expand and modernise its bus fleet.

• FTA funds bus improvements in central Illinois

  October 26, 2018
  The United States Department of Transportation’s Federal Transit Administration (FTA) has awarded grants of a total value of over USD12 million under the Bus and Bus Facilities Infrastructure Investment Program to improve bus transit service in central Illinois.

• SoCal Metrolink secures funds for safety improvements, US

  October 18, 2018
  The California Transportation Commission (CTC) has allocated USD91.2 million to Metrolink commuter rail service in Southern California (SoCal), as part of a multi-year grant agreement, for rail safety improvement projects under the Southern California Optimized Rail Expansion (SCORE) Program.

• Long-term transport plan for Washington D.C. area approved [free access]

  October 17, 2018
  The National Capital Region Transportation Planning Board (TPB) at the Metropolitan Washington Council of Governments (COG) has approved the long-range transportation plan, Visualize 2045, which proposes investments of USD291 billion on more than 600 transit and highway projects through 2045.

• USDOT funds rail infrastructure upgrade PPP in Chicago

  October 4, 2018
  The United States Department of Transportation (USDOT) has awarded a grant of USD132 million to the Illinois Department of Transportation for the 75th Street Corridor Improvements and Argo Connections projects of the Chicago Region Environmental and Transportation Efficiency (C.R.E.A.T.E.) initiative.

• Colorado secures FTA grant for VelociRFTA BRT modernisation, US

  October 3, 2018
  The United States Department of Transportation’s Federal Transit Administration (FTA) has awarded a grant of USD2.2 million to the Roaring Fork Transportation Authority (RFTA) in Colorado to modernise buses which operate on the VelociRFTA bus rapid transit (BRT) line.

• USDOT funds bus infrastructure modernisation

  September 25, 2018
  The United States Department of Transportation’s Federal Transit Administration (FTA) has selected 107 projects to award a total of USD366.2 million through the Buses and Bus Facilities Infrastructure Investment Program.

• Decatur IL secures FTA grant for new buses by 2023, US

  September 21, 2018
  The United States Department of Transportation’s Federal Transit Administration (FTA) has awarded USD4.6 million to the city of Decatur, Illinois, to replace 18 buses over the next five years.

• Worcester RTA budget approves 2019 budget, US

  September 21, 2018
  The Worcester Regional Transit Authority (RTA) Advisory Board has unanimously voted to pass a USD26-million balanced budget for 2019.