Infrastructure Development & Management Strategies

In its headline article Saturday, the Miami Herald announced Florida had withdrawn its support for the Port of Miami Tunnel PPP procurement.  The state indicated concern about the financial markets’ impact on Babcock & Brown, the concessionaire’s 90% equity sponsor.  Although the Australian investment bank’s shares had lost over 99% of their value in the [...]

First the Chicago Skyway, then the Midway Airport.  With yesterday’s 40-5 vote to award the management of its parking-meter system to a private consortium for 75 years, Chicago’s city council continues to pioneer the nation’s use of long-term operating leases for additional forms of infrastructure.  Mayor Richard Daley noted this lease of a public parking-meter [...]