Transportation Financial Advisory Services

IMG helps transportation departments and authorities, tollroad sponsors, and governments seek traditional and innovative ways to finance roads, bridges, tunnels, transit systems, rail and ports.

For new projects, IMG utilizes project finance techniques to evaluate and structure financings that make these challenging projects feasible. IMG stress-tests toll forecasts and capital expenditure programs to assess the limits of a project’s feasibility. IMG has devised ways to blend financing sources, including project loans, revenue bonds, loans from the U.S. Department of Transportation (USDOT) Transportation Infrastructure Finance and Innovation Act (TIFIA) program, and joint development sources. IMG has been selected by the US DOT/FHWA to serve as a financial advisor on their TIFIA program.

IMG has recognized that there are numerous permutations from the pure project finance model and, increasingly, projects may receive partial support from system revenues, such as turnpike authorities, or from local and state governments. Understanding the financial condition and goals of these larger systems and governments is important for smooth project management. View Florida's Turnpike.

Surface transportation has a rich history of applying innovative finance techniques, often used in conjunction with PPPs. IMG professionals were actively involved in some of the early tollroad PPPs in California, Washington, and Virginia in the early 1990s and understand the evolution of these effective, though challenging, approaches to realizing essential projects and capital expansions. IMG has helped both to structure specific PPPs and advise governments on establishing optimal PPP programs that encourage active participation of the private sector, while safeguarding the public interest.

These assignments often have included valuing the PPP from both the public and private perspectives taking into account different assumptions regarding project risks, discount rates, and economic benefit. View Chula Vista, CA, Florida's Turnpike.

IMG professionals have worked with a variety of innovative finance tools including TIFIA loans, Rail Rehabilitation and Improvement Financing (RRIF), State Infrastructure Banks (SIBs), joint development programs, tax increment financing, impact fees, sales tax revenue sources, and non-toll revenue source funding. View Miami CITT. IMG’s rich understanding of the link between transportation and real estate development offers a valuable perspective on this potential funding source.

For regulators and policymakers seeking improvements to organizational effectiveness, IMG has conducted performance audits of tollroad programs and road departments, evaluating both financial and operational performance. View Florida's Turnpike.

IMG professionals are active in relevant professional organizations, such as the Transportation Research Board’s Taxation and Finance Committee.

For more information on IMG’s Transportation Financial Advisory Services contact:

Sasha Page, Vice President or
Louis Wolinetz, Senior Manager