Washington State Public Works Board’s Post

#DOT is publishing a list of anticipated dates for upcoming Notices of Funding Opportunity (#NOFOs) for key programs within the Bipartisan Infrastructure Law (#BIL) and the Inflation Reduction Act (#IRA), as well as adjacent programs that support BIL and IRA objectives. This list is not comprehensive and will be updated periodically with additional programs and revised dates as appropriate. The USDOT Discretionary #Grants Dashboard provides communities with an overview of discretionary grant opportunities that can help meet their transportation #infrastructure needs. https://lnkd.in/grydVMyk #Federalcontracting #Q42024 #Transportation #USFCR #FAA #Bridges #Highways #USDOT #Growthminded #Rightnow

In the latest Newsletter from the desk of our Executive Director, Carla Seirlis MICM, there’s detailed information specifically related to the Building & Construction Industry. - Federal Government’s Commitment to Assist Increasing Numbers of Skilled - Workers in the Industry - Insolvency Statistics - Liquidations - Applications for Wind Up - Administrator Appointments - Restructuring Practitioner Appointments - State and Territory Liquidation Breakdowns Also, there’s an interesting case study where one of our members could get a $400K debt paid against a customer in liquidation because there was a PPSR in place. One key benefit of our strategic alliance with Lynne Walton of Access Intell - Credit Management! If you want to cut to the case, it’s on page 14. We live in a data-driven world and when it comes to trading data on the Building & Construction Industry, this is what BICB does best. Accurate, current trading data enables a credit manager to make informed decisions. Plus, the plethora of strategic alliances BICB has makes our service more invaluable. The Newsletter you’re viewing is a portion of what our members can access. You really need to see how the BICB platform works to gauge its true value in your credit management. Book a time to do so here: https://lnkd.in/gu2dsJuQ You will be amazed! https://lnkd.in/g7zGGgsy #BICB #buildingconstruction #insolvency #creditmanagement #creditrisk

The Redevelopment Assistance Capital Program (RACP) is a Commonwealth grant program administered by the Office of the Budget for the design, acquisition, and construction of a regional economic, cultural, civic, recreational, and historical improvement project. RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity. RACP projects are state-funded projects that cannot obtain primary funding under other state programs. The RACP funding round window is currently open. The window will be open from Friday, December 8, 2023 and will close Friday, January 12, 2024 at 11:59 p.m. Find out more about the Pre-Award process: https://buff.ly/41iQMmI Click here for the application: https://buff.ly/3H0ILd3 Questions can be emailed directly to RA-OB-RACP@pa.gov.

Government Grants and Subsidies for Equipment Financing: 4 Experiences Shared In the complex world of construction financing, we’ve gathered insights from owners and directors who have navigated the maze of government grants and subsidies. From leveraging SBA 504 loans for equipment to the rewarding experience of securing such funding, discover the varied experiences of four industry professionals in this comprehensive guide. Click the article to see what our contributors had to say. Thank you for your insight: Russell Rosario, Niclas Schlopsna, Lara Woodham, Mike Drouin. https://lnkd.in/gXp_Hi9e

Get ready for November! What would CA Proposition 2 fund? Proposition 2 would issue $10 billion in bonds with $8.5 billion dedicated to elementary and secondary educational facilities and $1.5 billion for community college facilities. Proposition 2 would make changes to the formula used to determine the amount each district is required to contribute to be eligible to receive state funding from the bond revenue. The measure would have required the state government to cover between 50 and 55% of construction project costs and 60 and 65% of modernization project costs. https://lnkd.in/gx-aP7FF)

NCLT starts the insolvency process for MEP Infrastructure. Have you ever heard of a company getting a fresh start? That might be the case for MEP Infrastructure, a company facing some financial challenges. Freshly, a public sector lender (think bank) says MEP Infrastructure owes them a default of Rs 127.86 crore! The lender went to the National Company Law Tribunal (NCLT), a kind of business court, to try and resolve the issue. The NCLT order includes a moratorium under Section 14 of the IBC, safeguarding MEP infrastructure from legal actions and property encumbrances. MEP Infrastructure offered the lender a deal to settle things outside of court, but it wasn't accepted. The deal likely involved the lender having to give up some of the money owed, and the source of funds for the repayment wasn't clear. Since the out-of-court deal fell through, the NCLT appointed an interim resolution professional (IRP). This person is like a financial superhero who will assess MEP Infrastructure's situation and explore ways to get them back on track. Follow: AAA Groups Source: http://surl.li/sjkxj #aaagroups #nclt #nclat #bankruptcy #insolvency #bankingtechnology #finance #lawyer #fraud 

For DFP, no land subdivision financing challenge is insurmountable. DFP succeeded in helping an established developer to secure funding for a complex 70-lot residential land subdivision up to 90% of the total project cost. Read more here: https://hubs.la/Q02d7G_Z0 #PropertyDevelopment #subdivisionfinance #DFP #nonbanklender

Hot off the press! Financing Mechanisms for the Top 50. Takeaways: (1) average of $35.7k per door in net construction proceeds; (2) taxes as a % of home prices averaging 2.23% across markets; and (3) 87% of homes in the Top 50 are in districts. Reach out for more info-

This is a very worrying article re the PAC findings on HS2 - particularly so regarding the re-assignment of funds to other projects. The comment re the new station in Bradford seems to suggest that lessons have still not been learnt! << The PAC’s report then turns its attention to prime minister Rishi Sunak’s promise that “every single penny” of the reported £36bn saved by the cancellation of HS2 North would be invested in transport projects in the North. Despite the release of the Network North document with a list of projects to be funded, the report says that the DfT has “yet to finalise” what this money will be spent on and when the selected projects will be able to start. “There is not yet a list, with expected costs and benefits, of what projects the DfT expects will be delivered over the long-term with the redirected funds,” it states. One promised project is a new station in Bradford, which it says will cost £2bn despite having done no cost calculations, business case or cost benefit ratio to back up this pledge.>>

ICYMI: Our latest article looks at how the chronic lack of public cash, combined with a private sector boom in project finance, might lead to some important market developments in the UK over the course of 2024 https://lnkd.in/eXm_HTnd (And for those wanting to get a better understanding of what the #PPP market might look like in 2024, make sure you're logged in for our webinar, two weeks today! More info: https://lnkd.in/eWBDEGgE)