Credit Support and Infrastructure Investment: The Case of the Transportation Infrastructure Finance and Innovation Act (TIFIA) Program
The Impact of Accessing Public Credit Support on P3s project will measure the impact of credit support program application and approval processes on project delivery. Public Private Partnerships (P3s) often rely on the Transportation Infrastructure Finance and Innovation Act (TIFIA) credit program, as well as state-level credit support programs, as part of their financial structure. On the one hand, TIFIA can provide invaluable credit support to a project because it charges low interest compared to other credit sources and is subordinate to other loans so long as a project is not in default. However, a protracted process for securing public credit support may adversely affect project delivery by delaying financial close. We propose to study the effects of this process through desk research and a series of confidential interviews with public and private sector actors in the P3 industry. This interview data would focus on the impacts to the public sector and the concessionaire related to securing public credit support.
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Supplemental Notes:
- Project funded from core funds
Language
- English
Project
- Status: Completed
- Funding: $Federal funds $64,838, Match $73,121
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Contract Numbers:
69A3551847103
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Sponsor Organizations:
Office of the Assistant Secretary for Research and Technology
University Transportation Centers Program
Department of Transportation
Washington, DC United States 20590 -
Managing Organizations:
Pennsylvania State University
University Park, PA United States 16802 -
Project Managers:
Donnell, Eric
Rajabipour, Farshad
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Performing Organizations:
George Mason University Transportation and Economic Development Center
George Mason University
102CFinley Building, MS-2C9
Fairfax, VA United States 22030-4444 -
Principal Investigators:
Gifford, Jonathan
- Start Date: 20190125
- Expected Completion Date: 20200525
- Actual Completion Date: 0
- USDOT Program: University Transportation Centers
Subject/Index Terms
- TRT Terms: Public private partnerships
- Subject Areas: Construction; Economics; Finance; Research; HIGHWAY FINANCING & ADMINISTRATION;
Filing Info
- Accession Number: 01718374
- Record Type: Research project
- Source Agency: Center for Integrated Asset Management for Multimodal Transportation Infrastructure Systems (CIAMTIS)
- Contract Numbers: 69A3551847103
- Files: UTC, RIP
- Created Date: Sep 27 2019 10:15AM