Prince George's County Schools PPP has reached the commercial and financial close following the issuance of US$476 million senior secured notes, by the Project Company (PGCECP) the consortium formed by Fengate Asset Management, Gilbane Development Company, Gilbane Building Company, Stantec, and Honeywell.
The Project Company will use the note proceeds to finance a portion of its obligations under a long-term project agreement with Prince George's County Public Schools to design, build, finance, operate, and maintain five new middle schools and one new K-8 school as part of the Alternative Construction Financing Package 1 Schools in the Prince George's County, Maryland.
The Blueprint Schools initiative, which uses a first-of-its-kind delivery model for a U.S. public school system, is designed to build new schools faster, cutting the delivery time in half with lower construction costs and preventative maintenance. Other community benefits include the guaranteed procurement of at least 30 percent of total eligible costs of the program to minority-owned businesses, community-based enterprises, and community-based small businesses that will serve as a much-needed economic stimulus. In addition, approximately $174 million in savings is expected in deferred maintenance and construction costs.
The U.S. Department of Transportation's Federal Transit Administration (FTA) has approved the allocation of US$100 million to Santa Clara Valley Transportation Authority (VTA) for the second phase of the Bay Area Rapid Transit (BART) Silicon Valley Phase II project.
Read moreLouisiana Department of Transportation and Development (LaDOTD) in the USA has launched a notice of intent seeking a developer possessing the capability to design, build, finance, operate, and maintain the I-10 Calcasieu River Bridge Public-Private Partnership (PPP) project in lake Charles.
Read moreThe Louisiana Department of Transportation and Development announces that the Louisiana Joint Transportation, Highway and Public Works Committee gave its approval for the department to solicit proposals and enter into a contract for a public-private partnership to build and finance a new Calcasieu River Bridge on Interstate 10 in Lake Charles.
Read moreJohn Laing Group plc, the responsible investor and active manager of infrastructure projects internationally announced that it has successfully completed a refinancing of USD311 million for the Regional Transportation District’s (RTD) Denver Eagle P3 project in Denver, Colorado, USA.
Read moreConrac Solutions, has announced a partnership with independent infrastructure investment group, iCON Infrastructure, including equity financing for future private delivery and re-financings of ConRAC facilities over the next five years.
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