Florida is among the states most active in transportation PPP programs, with two successful projects, the Port of Miami Tunnel and the I-595 Managed Lanes, both financed under the availability payment model. Georgia recently reactivated its pro-gram, issuing three separate RFPs in 2010. In 2009, Arizona adopted PPP legislation, and the state DOT is drafting program guidelines and beginning to screen projects.
California adopted the PPP legislation SBX2 4 in 2009, despite long-standing opposition from public employee unions. The state has moved rapidly and reached commercial close on a PPP contract for the Presidio Parkway project in San Francisco. The Los Angeles Metropolitan Transit Authority is conducting an in-depth analysis of potential PPP projects in the transit and highway modes and expects to initiate its first procurement in 2011.
The Denver Regional Transportation District Eagle PPP project, one of the most successful transit PPP projects, completed financial close in August 2010 with FTA funds, PABs, and private equity. The arrangement will deliver three separate commuter rail projects under the DBFOM model. PPPs also are a cornerstone of the delivery and funding strategies for the high-speed rail programs in Florida and California.