Using Refinancing of Federal Loans to Support Transportation Infrastructure: Lessons from the Covid-19 Pandemic
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2024-08-15
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Corporate Contributors:Center for Integrated Asset Management for Multimodal Transportation Infrastructure Systems (CIAMTIS) (UTC) ; United States. Department of Transportation. University Transportation Centers (UTC) Program ; United States. Department of Transportation. Office of the Assistant Secretary for Research and Technology
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Edition:Final Report – 6/1/22 to 9/30/24
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Abstract:The Covid-19 pandemic exposed vulnerabilities in transportation infrastructure projects, leading to delays, suspensions, or cancellations of several public-private partnership (P3) projects in the United States. The resulting decline in transportation-related revenues has strained state and local government finances. Consequently, the U.S. Department of Transportation (USDOT) has seen increased interest from existing borrowers seeking to refinance their loans to offset pandemic-related revenue losses and benefit from low interest rates. This has spurred significant refinancing activity at the Build America Bureau, the federal hub for coordinating transportation infrastructure financing.
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Content Notes:Note: the title of the proposal for this project used a different title, “Using Advance Refunding of Federal Loans to Support Transportation Infrastructure: Lessons from the Covid-19 Pandemic.” The term “refinancing” is a more accurate description of the activity under study and is used throughout.
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