availability payments

Toll finance consultant Robert Bain says investors now consider toll revenue lending less risky many places than government-backed contracts like 'shadow tolls' and 'availability payments' for roads.

Port Authority New York New Jersey (PANYNJ) are taking the first step toward getting the private sector to design, finance, build and maintain a new Goethals Bridge in return for availability payments. They have issued a request for information (RFI) preliminary to a request for proposals (RFP) to design, build, finance and maintain a Goethals Bridge replacement, but say they will maintain control of toll collection and the right to tolls.

A commission appointed by New York State Governor David Paterson says there's major potential in  a state program to develop availability payment concessions for bridges.