March 29, 2010
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Parker Receives U.K. Transport Honor
Jeffrey A. Parker & Associates (JPA) of Chilmark, MA, recently received the 2009 Transport Financial Adviser of the Year award from Infrastructure Journal (IJ), a publication in the United Kingdom, at the annual award ceremony in London. IJ provides news stories, project databases, and analysis dealing with topics of key importance to the infrastructure market.
JPA received the honor for successfully advising Florida DOT on two public-private partnership (P3) transactions totaling more than $2.5 billion. The firm worked with the state agency on the procurement, financing, and fast-track implementation of the I-595 Corridor Roadway Improvements—also nominated for IJ’s Transport Deal of the Year—and the Port of Miami Tunnel. Structured as 35-year Design, Build, Finance, Operate, and Maintain contracts, the two projects are the first-ever availability-payment-based transactions implemented in the United States.
According to IJ, the I-595 project differs from earlier U.S. P3 projects by having the state retain traffic-and-revenue risk, as well as allowing Florida DOT the right to set and collect tolls to better integrate the managed lanes within the overall local road network.
IJ Editor-in-Chief Angus Leslie Melville said of the selection: “The judges considered both projects, and the firm’s role, to have been vital in adding momentum to the burgeoning transport project finance market in the U.S.”
JPA specializes in innovative finance and investment strategies, public-private partnerships, business and financial planning, federal funding programs, strategic alliances, and workouts. Its primary focus is on major public transportation, highway, and intermodal projects and programs.
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Michael Parker, right, managing director of Jeffrey A. Parker & Associates, accepts the Transport Financial Adviser of the Year award from Angus Leslie Melville, editor-in-chief of Infrastructure Journal. |
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