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FHWA encourages the consideration of public-private partnerships (P3s) in the development of transportation improvements. Early involvement of the private sector can bring creativity, efficiency, and capital to address complex transportation problems facing State and local governments. The Office of IPD provides information and expertise in the use of different P3 approaches, and assistance in using tools including the SEP-15 program, private activity bonds (PABs), and the TIFIA Federal credit program to facilitate P3 projects.
183-A Turnpike - Austin, Texas
The 183-A Turnpike is an 11.6-mile controlled access north-south tolled highway east of the existing US 183 in metropolitan Austin. This regionally significant project connects to the Central Texas Turnpike System, previously funded in part with TIFIA credit assistance. 183-A was developed by the state's first Regional Mobility Authority - CTRMA - which was legislatively authorized in 2001 to form at the county level if a regional toll authority did not already exist to construct, operate, and maintain toll roads. CTRMA opened a northern 5-mile extension of the 183-A in April 2012, fully funded with the sale of toll revenue bonds.
95 Express – Miami, Florida
When fully constructed, the 95 Express will provide two express lanes in each direction and additional general purpose lane capacity for approximately 22 miles along I-95 from I-395 in Miami-Dade County to I-595 in Broward County, Florida. Phase 1 is complete, delivered as a design-build-finance project under a federal Urban Partnership Agreement. Phase 2 is a design-build project.
Anton Anderson Memorial Tunnel - Porter-Whittier, Alaska
The privately operated, 2.6-mile, dual mode Anton Anderson Memorial Tunnel (aka Whittier Tunnel) connects the cities of Porter and Whittier on Prince William Sound, 65 miles southeast of Anchorage, Alaska. The project was funded on a pay-as-you-go basis.
Chicago Skyway - Chicago, Illinois
The Chicago Skyway is a 7.8-mile elevated toll road connecting I-94 (Dan Ryan Expressway) in Chicago to I-90 (Indiana Toll Road) at the Indiana border. It was leased to a consortium of Cintra and Macquarie in 2005 for an upfront payment of $1.83 billion, which the City used to pay down Skyway and city debt and establish reserve funds.
Cooper River Bridge Replacement - Charleston, South Carolina
North America's longest cable stay span replaced the existing truss bridges connecting the City of Charleston and the Town of Mount Pleasant along Highway 17. Financing relied on the state's infrastructure bank, which provided a grant and loan backed by TIFIA.
Denver Union Station - Denver, Colorado
The Denver Union Station project is a public-private development venture located on approximately 50 acres in lower downtown Denver. Redevelopment of the site as an intermodal transit district surrounded by transit-oriented development will include light and commuter rail stations, a regional bus facility, new transit service, and pedestrian improvements. The project is being sponsored by a public benefit corporation formed by the City of Denver and its elements will be transferred to the Regional Transportation District as they are completed. Financing includes TIFIA and RRIF loans, federal grants and stimulus funding, and state, regional, and local contributions.
Downtown Tunnel / Midtown Tunnel / MLK Extension - Cities of Norfolk and Portsmouth, Virginia
The Downtown Tunnel / Midtown Tunnel / MLK Extension consists of five construction components involving three facilities in the Hampton Roads region of Virginia. The $2.1 billion project will be built on a design, build, finance, operate, and maintain (DBFOM) concession basis by Elizabeth River Crossings LLC (ERC) composed of Skanska Infrastructure Development and Macquarie Group. ERC will operate the concession for 58 years. Tolling of the existing Midtown and Downtown Tunnels to help finance the project will commence in January 2014.
Dulles Greenway - Loudoun County, Virginia
The Dulles Greenway is a 14-mile, limited-access, privately financed highway extending from the State-owned Dulles Toll Road - which carries traffic between Washington's Capital Beltway and Dulles Airport - to Leesburg. The two roads connect at a toll plaza. Drivers pay one toll, which the operators of the two facilities divide.
E-470 Tollway - Denver, Colorado
The E-470 is a 47-mile orbital toll road running along the eastern perimeter of the Denver metropolitan area. The tollway was financed entirely by private enterprise and the E-470 Public Highway Authority using an innovative mix of revenue sources including: tolls: vehicle registration fees, a highway expansion impact fee, and private sector contributions ranging from office space, to right-of-way, property assessments, and monetary donations.
Eagle Project - Denver Metro Area, Colorado
The East and Gold Line Enterprise (Eagle) Project is part of RTD's FasTracks, a voter-approved program to expand rail and bus transit throughout the Denver metropolitan region. The Eagle Project is being procured through a concession agreement between RTD and Denver Transit Partners to design, build, finance, operate, and maintain the project's components for 34 years.
Hiawatha Light Rail Transit - Minneapolis/St. Paul, Minnesota
The 12-mile, 17-station Hiawatha Light Rail system links downtown Minneapolis with Minneapolis-St. Paul International Airport and the Mall of America. The project utilized two separate design-build contracts for light: one for rail vehicles and one to place rail and signal and communication equipment along the alignment. Due to high risk levels, tunnels and stations bored below the airport were procured using the traditional design-bid-build model.
Hudson-Bergen Light Rail - Hudson/Bergen Counties, New Jersey
The $1.0 billion, 9.5-mile initial operating segment was procured using innovative 15-year DBOM contract, resulting in an estimated 8 years in savings compared to a traditional multiple design-bid-build approach. The contract was later renegotiated to cover Segments II ($1.2 billion) and III ($100 million) that extended the rail another 7 miles, adding 8 stations.
I-4 / Selmon Expressway Connector - Tampa, Florida
The I-4 Connector is an elevated north-south toll road that will connect I-4 with the Selmon Expressway, two major east-west corridors in the Tampa region. The Connector will have exclusive truck lanes to provide direct access to the Port of Tampa and remove commercial traffic from local roads in Ybor City. The project is being delivered using a design-build-finance approach.
I-15 Corridor Reconstruction Project - Salt Lake City, Utah
The Interstate 15 reconstruction was the Utah Department of Transportation's first design-build procurement. The project involved the reconstruction of 16.2 miles of interstate mainline and the addition of new general purpose and high-occupancy-vehicle (HOV) lanes through the Salt Lake City metropolitan area.
I-485 Charlotte Outer Loop - Charlotte, North Carolina
The I-485 Charlotte Outer Loop involves the construction of a new 5.1-mile, eight-lane section of interstate from west of NC 115 (Old Statesville Rd.) to west of I-85 north of Charlotte, North Carolina. This is the last segment of the I-485 Outer Belt around Charlotte and will connect I-77 to I-85. The project is being financed with GARVEE bonds, State Transportation Trust Fund disbursements, and contractor financing to be repaid by future General Assembly appropriations.
I-495 Capital Beltway HOT Lanes - Fairfax County, Virginia
The I-495 Capital Beltway HOT Lanes project is a P3 between VDOT and Capital Beltway Express, LLC, a joint venture of Fluor and Transurban. Improvements include 14 miles of twin HOT lanes in each direction, the replacement of more than 50 bridges and overpasses, and interchange upgrades. Financing includes the first-ever combination of TIFIA credit assistance and private activity bonds (PABs).
I-595 Corridor Roadway Improvements - Broward County, Florida
The I-595 Corridor Roadway Improvements project consists of the reconstruction and widening of 10.5 miles of the I-595 mainline from the I-75/Sawgrass Expressway to I-95. The project is being implemented as a P3 between FDOT and a private concessionaire, I-595 Express, LLC, to design, build, finance, operate, and maintain the roadway for a 35-year term. FDOT will make availability payments backed by Federal and state resources for the concessionaire's successful completion of construction and ongoing operations. The concessionaire's financing, backed by these availability payments, includes senior bank debt, a TIFIA loan, and private equity.
IH 635 Managed Lanes - Dallas County, Texas
The IH-635 (LBJ Freeway) Managed Lanes Project will relieve congestion north of Dallas on a 13-mile stretch of the LBJ Freeway with reconstruction of its main lanes and frontage roads and the addition of six managed lanes along I-635 (subsurface) and I-35E (elevated). The project is being built as a P3 (Comprehensive Development Agreement [CDA]) between TxDOT and LBJ Infrastructure Group, which will operate and maintain the facility for 52 years.
I-75 Roadway Expansion (iROX) - Collier and Lee Counties, Florida
iROX was a design-build-finance project that resurfaced and widened 30 miles of I-75 through Collier and Lee counties in Florida and included one interchange reconstruction. The $458 million project used a combination of federal, state, and local funds and was delivered one year ahead of schedule.
Indiana Toll Road - Indiana
In operation since 1956, the Indiana Toll Road stretches 157 miles across the northernmost part of Indiana from its border with Ohio to the Illinois state line, where it provides the primary connection to the Chicago Skyway and downtown Chicago. The Indiana Toll Road was leased to a consortium of Cintra and Macquarie in 2006 for an upfront payment of $3.8 billion, which is primarily being reinvested in statewide roadway and bridge improvement projects.
Innerbelt Eastbound Bridge - Cleveland, Ohio
The Innerbelt Eastbound Bridge consists of the construction of a new eastbound Innerbelt Bridge over Cuyahoga River in to the City of Cleveland, to be delivered as a design-build-finance project. A new westbound bridge is currently under construction through traditional means. Each new bridge will carry five lanes of traffic increasing capacity by 25 percent.
Intercounty Connector - Maryland
The Intercounty Connector (ICC) is a toll highway linking existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County, Maryland. The project is largely supported by GARVEE and toll revenue bonds, as well as a TIFIA loan and State Transportation Trust Fund and General Fund revenues.
Iway (I-195 Relocation Project) - Providence, Rhode Island
The Iway was composed of 16 individual projects to relocate a 45-year-old 1.6-mile stretch of I-195 and an adjacent 0.8-mile portion of I-95 through Providence, Rhode Island. This $610 million project was financed through GARVEE and motor fuel tax revenue bonds and has won national acclaim for its project management and bridge design and construction.
Las Vegas Monorail - Las Vegas, Nevada
The Las Vegas Monorail was originally a joint venture between MGM Grand and Bally's Hotel, creating a one-mile system linking the hotels in 1993. Plans for expansion further along the Strip led to the State of Nevada in 1997 passing legislation that enabled a private company to own, operate, and charge a fare as a public monorail system.
Missouri Safe and Sound Bridge Improvement Program - State of Missouri
There were 10,405 bridges on the Missouri Department of Transportation system with at least 1,093 in Condition 3 (serious) or Condition 4 (poor). The Missouri Safe and Sound Bridge Improvement Program has replaced or rehabilitated 802 of these bridges using both a modified design-bid-build and design-build approaches.
North Tarrant Express - Dallas-Fort Worth Metroplex
TxDOT awarded two Comprehensive Development Agreements (CDA - equivalent to a P3) for the North Tarrant Express project to NTE Mobility Partners. The Concession CDA for Phase 1 includes the design, development, construction, finance, maintenance, and operation of 13 miles along Interstate (IH) 820 and SH 121/SH 183 north and east from Fort Worth. The duration of the concession is 52 years. The roadway is being reconstructed with the addition of two managed lanes and an additional general purpose lane in each direction. The CDA for Segments 2-4 includes developing master plans for the remainder of the NTE.
Northwest Corridor Project – Atlanta, Georgia
The Northwest Corridor project will include extensions of existing HOV lanes and the addition of reversible tolled managed lanes along sections of nearly 30 miles of I-75 and I-575 northwest of Atlanta. The nearly $1 billion project will delivered using a design-build-finance approach.
Pocahontas Parkway / Richmond Airport Connector - Greater Richmond, Virginia
This $354 million project was financed by tax-exempt toll revenue bonds issues by a 63-20 corporation. It is the first transportation project implemented under Virginia's Public-Private Transportation Act of 1995. The Parkway was leased to a private toll road operator in 2007. The deal defeased its underlying debt and included the construction of the 1.6-mile Richmond Airport Connector, which opened in January 2011.
Port of Miami Tunnel - Florida
The Port of Miami Tunnel will improve access to and from the Port of Miami, serving as a dedicated roadway connector linking the Port (located on an island in Biscayne Bay) with the MacArthur Causeway and I-395 on the mainland. The project is being developed as a P3 with Miami Access Tunnel, LLC (MAT). The state has agreed to pay for approximately 50 percent of the capital costs (design and construction) and all operations and maintenance, while the remaining 50 percent of the capital costs will be provided by the local governments. FDOT will make milestone payments to MAT at various stages of project development, followed by availability payments during a 30-year concession. Senior bank debt, a TIFIA loan, and private equity have been used to finance the project.
Presidio Parkway - San Francisco, California
The Presidio Parkway project is a replacement of Doyle Drive, the southern access to the Golden Gate Bridge. The current structure, built in 1936, does not meet current highway standards and is seismically deficient. Through a competitive procurement process, Caltrans selected a private consortium, the Golden Link Concessionaire, to deliver Phase II as a design, build, finance, operate, and maintain (DBFOM) availability-pay concession. The P3 Project Agreement with GLC allows for milestone payments following substantial completion and quarterly availability payments through the concession period, based on performance.
Puerto Rico PR-22 and PR-5 Lease - Puerto Rico
PR-22 and PR-5, heavily traveled toll roads stretching about 55 miles along the northern coast of Puerto Rico from Bayamon westward through San Juan to Arecibo, are being leased to consortium of Goldman Sachs and Abertis. The total $1.436 billion administrative concession will finance, rehabilitate, operate, and maintain the facilities over 40 years. Of that total, $1,080 million is an upfront payment of which at least 90% will be used to defease all outstanding tax-exempt toll-revenue debt ($902 million), and approximately $350 million will be expended on expected upgrades over the concession period, $56 million of which will be spent in the first three years on "accelerated safety improvements."
Reno Transportation Rail Access Corridor (ReTRAC) - Reno, Nevada
Traffic congestion and safety concerns brought about the largest public works project ever undertaken in Northern Nevada, the Reno Transportation Rail Access Corridor, or ReTRAC. The project depressed a 2.3-mile stretch of freight rail that ran through downtown, eliminating 10 at-grade street crossings.
SH 130 (Segments 5-6) - Austin, Texas Metropolitan Area
SH 130 is a four-lane, 91-mile toll road east and south of Austin designed to relieve congestion on the heavily traveled I-35, the primary north-south route through Central Texas. Segments 5 and 6 have been developed through a 50-year concession (Comprehensive Development Agreement) with the SH 130 Concession Company (a joint venture of Cintra and Zachry American Infrastructure). They were financed with senior bank debt, a TIFIA loan, and private equity. Segments 1-4 were constructed under a design-build project as part of the Central Texas Turnpike System.
South Bay Expressway (formerly SR 125 South Toll Road) - San Diego County, California
The South Bay Expressway toll road is a 9.2-mile privately-funded southern extension of SR 125, extending from SR 905 near the International Border to SR 54 near Sweetwater Reservoir in San Diego, California. The original operator, South Bay Expressway, L.P., held a 35-year franchise with the State of California under which it financed and built the highway, then transferred ownership to the State. The concessionaire emerged from bankruptcy in April 2011 as South Bay Expressway, LLC, and sold the toll road to the San Diego Association of Governments in December 2011.
Tren Urbano - San Juan, Puerto Rico
The Tren Urbano is a 10.7-mile, fully automated rapid transit that serves the metropolitan area of San Juan, which includes the municipalities of San Juan, Bayamón, and Guaynabo. The Tren Urbano consists of 16 stations along a single line, a vehicle maintenance and storage facility, rolling stock, and other supporting infrastructure.
Triangle Expressway - Raleigh-Durham, North Carolina
The 18.8-mile Triangle Expressway, composed of three sections, provides congestion relief on existing north-south routes serving the Research Triangle Park region (including I-40) between Raleigh and Durham. The project is being financed with toll and state revenue bonds and a $386 million TIFIA loan.
U.S. 36 Managed Lanes / Bus Rapid Transit Project: Segments 1 and 2 - Denver Metro Area, Colorado
A 10-mile stretch of U.S. 36, a four-lane divided highway connecting Denver and Boulder, will be reconstructed and augmented with a single HOT lane in each direction as part of an initial phase of planned upgrades over this 18-mile corridor. The design-build project will also include the reconstruction of five bridges, accommodations for bus rapid transit, provision for ITS, improvements to commuter rail stations, and a bikeway. Financing includes a TIFIA loan facilitated by a TIGER grant, as well as a mixture of federal, state, and local funding, including $120 million from the Regional Transportation District's FasTracks program supported by a regional sales tax. The project's second phase will extend the work another five miles toward Boulder and is being procured as a DBFOM P3, where the concessionaire is expected to operate and maintain the entire U.S. 36 HOT lane corridor as well as the existing I-25 Express Lanes that start at its southern terminus.
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