East End Crossing Reaches Commercial Close

12.31.2012
InfraAmericas

Nossaman was mentioned and Partner Barney Allison quoted in the InfraAmericas article "East End Crossing Reaches Commercial Close."  The article reported that Nossaman's client, the Indiana Finance Authority (IFA), has finalized an agreement and reached commercial close with WVB East End Partners to design and build the East End Crossing P3 of the Louisville-Southern Indiana Ohio River Bridges project.

The article noted that, in a statement, Indiana Governor Mitch Daniels said his administration was unreasonable in their demands and expectations for the project, however, every deadline in the state procurement was met.

Barney Allison was quoted as saying, "Daniels was a key player in the ambitious timeline, as he wanted to see the state attempt a P3 greenfield transportation project, and see it reach close before his run as governor ended in 2012."  He continued by saying, "The project is notable for the strong international players who submitted bids and offers evidence that global firms are very focused on the US P3 market. The result of the competitive bidding process is that the project is anticipated to come in at about 23 percent below the original estimated cost, and nine months earlier than the original schedule called for."

Barney added that while Governor Daniels will no longer be in charge, "on a political level, there should be no slowdown" in P3 activity in the state. 

Nossaman was mentioned as legal advisor to the IFA.

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