The Impact of Accessing Public Credit Support on P3s

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.

  • Supplemental Notes:
    • Project funded from core funds

Project

  • Status: Active
  • Funding: $Federal funds $64,838, Match $73,121
  • 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:

    Center for Integrated Asset Management for Multi-Modal Transportation Infrastructure Systems

    Pennsylvania State University
    University Park, PA  United States  16802
  • Project Managers:

    Donnell, Eric

    Rajabipour, Farshad

  • 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 Multi-Modal Transportation Infrastructure Systems
  • Files: UTC, RiP
  • Created Date: Sep 27 2019 10:15AM