John Hennessy III,
P.E.
Construction, machinery, building products and engineering firms will be in high demand. Following Hurricane Katrina alone, a $100 million emergency FEMA contract was awarded to a construction and engineering firm for housing management and construction. Another similar firm also earned a $100 million contract to provide temporary housing and communications tools to hurricane victims. And a $30.9 million contract was awarded for repair of a bridge on Interstate 10.
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Because P3s cover a broad range of innovative contracting, project delivery and financing arrangements, a singular definition is difficult to establish. P3s take various forms based on the type of infrastructure involved and level of risk sharing sought by the public sector. Key characteristics of P3s, delineating them from typical arrangements between the public and private sectors, include the transfer of risk from the public sector to the private sector, the marrying of multiple steps of the procurement lifecycle and the shifting of some public sector responsibilities to the private sector.
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Starting in the late 20th century, modern streetcar proposals started rippling across municipalities in the United States. They’re touted as infrastructure carrying benefits ranging from the social to economic and the environmental. But these projects often make appearances in the news as costly, blunder-filled experiments in public policy. Cities are willing to bet big on […]
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Keeping America competitive in the global marketplace requires first-rate highways, bridges, ports, transit and a modernized aviation system. I applaud Senator Warner for crafting bi-partisan legislation that recognizes that necessity. The BRIDGE Act employs a creative financing mechanism which leverages private investments with those from the federal, state and local sources. It is a common-sense approach to attracting billions of private sector dollars to help finance important projects with tangible economic benefits.
– Gov. Ed Rendell, Former Governor of Pennsylvania, Co-Chair of Building America’s Future
View this complete post...Delays in the rollout of the Trump administration’s much-heralded $1 trillion infrastructure plan are proving costly for deteriorating U.S. roads, bridges, airports and transit systems. And the longer the delay, the more it will cost taxpayers. Tired of delays on a long-awaited new plan, some members of Congress are busy putting together a “Plan B.”
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Even as the MTA’s revenues have increased over the decades, its costs to operate subways, buses, and commuter rails have outpaced these gains. Over little more than a decade, the MTA’s costs, excluding debt service, have outpaced inflation by 50%. This fundamental imbalance prevents the state from providing New Yorkers with the transit service that a growing city demands. Below are answers to some questions about the transportation authority’s finances.
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Created three years ago and finally funded this year, the Environmental Protection Agency’s Water Infrastructure Finance and Innovation Act (WIFIA) program may soon announce the first round of funding for water infrastructure projects. The agency has $1.5 billion in available funds and it is all designated for water projects.
The EPA announced that 12 of the 43 public entities submitting letters of interest for project funding from the WIFIA program have been approved. These applicants may now move through the program and apply for low-interest loans.
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Across the globe, a well-functioning, modern infrastructure is Central to economic development and to quality of life. From the Roads and railways needed to transport people and goods, to the Power plants and communications networks that underpin Economic and household activity, to the basic human need for Clean water and sanitation, infrastructure matters to people And business everywhere.
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Despite a never-ending legislative to-do list, regulatory reform and the nation’s crumbling infrastructure are emerging as key policy priorities for Congress and the new presidential administration. In an exclusive interview with Engineering Inc., Sen. John Barrasso, R-Wyo., discussed his vision for infrastructure investment, regulatory reforms and energy legislation. “I am working with the new administration to address our infrastructure priorities and find fiscally responsible ways to start building,” says Barrasso, chairman of the Environment and Public Works Committee.
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The federal government may not like the Paris Climate Agreement, but state and local elected officials do. This past weekend, Los Angeles Mayor Eric Garcetti hosted a large number of mayors who reiterated their commitment to the partnership agreement. These officials visiting Florida for the U.S. Conference of Mayors represent the Climate Mayors, a bipartisan organization that was organized in 2014. The group now boasts 331 mayors representing 65 million Americans. The membership includes mayors from the 10 largest cities in the U.S., including traditional energy hubs such as Houston and Dallas.
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