With u.s. infrastructure aging, public funds scant, more projects going private – the washington post kansas gas service bill pay

##############

While public coffers have been running dry, a cottage 76 gas credit card login industry has been built around the concept of investing private money in infrastructure. It has grown exponentially over the past decade thanks largely to the world’s largest pensions, which have come to view infrastructure as a separate investment category, much like a stock or a bond.

Precise estimates are hard to pin down, but in the past five years, the 30 biggest investors in infrastructure have channeled as much as $180 billion into these types of investments, according to Infrastructure Investor magazine gas national average 2008. These investors include Macquarie, as well as some of the largest pension plans in Europe, Australia and Canada.

More capital is on the way. There are 100 private funds seeking to raise $95 billion for infrastructure investments globally, according to a tally by San Francisco-based fund adviser Probitas Partners, though not all of them will succeed. Of that electricity for refrigeration heating and air conditioning 9th edition answers, about $11.5 billion would be targeted for the United States, with fund sizes ranging from $100 million to $3 billion.

The main draw for investors, DePonte electricity voltage in norway said, is the steady, predictable income that infrastructure assets can provide. People need to get to work, use electricity and flush toilets, so a toll road, an electric utility or a water utility tends to deliver cash no matter what happens in the stock market on any given day. Recent research by Macquarie shows infrastructure has gas usa outperformed the global stock market by an average of about 0.5 percent per month in the past 10 years.

That has helped lure Canada’s $52 billion Ontario Municipal Employees Retirement System, which provides retirement benefits to more than 400,000 members. It has devoted about $8.25 billion, or 16 percent, of its portfolio to infrastructure because it “matches the long-term returns that we need for the pension plan,” said Michael Nobrega, chief executive of OMERS. The pension e sampark electricity bill payment fund bid — unsuccessfully — for the Chicago Skyway and the Pennsylvania Turnpike.

But the laws vary so much from state to state that investors often refer to the United States as a patchwork of 50 separate countries. Nevada, for example, has approved private investment in one toll road, while Puerto Rico’s 2009 law created a menu of opportunities across water, energy, transportation and education sectors, as well as a separate office to administer them electricity news philippines.

So far, Virginia has had the most success attracting private capital to its projects. The state was among the first to pass legislation electricity symbols and units enabling private investment for transportation in 1995. It has since built three projects with the help of private capital. Five more are under construction, and another four are in various stages of development.

One deal sealed in July is a $1.9 billion tunnel project directly north of Chesapeake’s new Jordan Bridge. It is what people in the business call “a public-private partnership.” A private consortium led by Macquarie will invest $1.2 billion, one quarter in direct equity, more than v gashi a third covered by commercial loans or bonds, and a third to be provided through a direct Transportation Department loan that has yet to be approved.

The state is also a partner in the Midtown gas density formula Tunnel expansion. It will contribute a $395 million subsidy to the project. It gets two things: a new tunnel without laying out the extra $1.2 billion and a lower toll than the private investors would have demanded otherwise. But it gets no revenue unless certain revenue-sharing provisions kick in later in the 58-year contract. Under the deal, Virginia capped tolls initially at $1.84 and la gastronomia will let them rise at roughly the rate of inflation.

The road made history in 2003 when it became the first privately backed toll road to secure a loan from a Transportation Department program designed to provide financing for innovation. The $140 million loan helped kick-start construction on the 9.2-mile road, which links the southern San Diego suburbs to an industrial area near the Mexican border.

But when the $658 million project opened to traffic in November 2007 e seva power bill payment, things did not go as planned. The subprime-mortgage crisis roiled Southern California. Expected housing developments were canceled, and recession-battered motorists turned to neighboring freeways. Traffic was about half of what investors had expected, said Greg Hulsizer, the toll road’s chief executive.

To others, the Transportation Department made up electricity bill payment online out well. Dale Bonner, who served as California’s highest transportation official during the bankruptcy process, said the whole episode was “a sign of the strength” of the private electricity for dummies amazon investment model. The initial investors were wiped out while the lenders, including the government, were compensated.

Now the South Bay Expressway is going to be sold — to government. The San Diego Association of Governments recently decided it was worth it to just buy the expressway and lower the tolls, which have pushed droves of motorists onto a parallel, congested freeway. The association approved a $345 million done with electricity tattoo book buyout offer in late July, cheap compared with the initial development cost or what it would have cost to widen the neighboring freeway.