AECOM is developing a financial study and demand forecasting advisory services to fund and address structural issues related to the Tappan Zee Bridge project, a regional initiative to improve mobility along a 30-mile stretch of I-287 between the I-287/I-87 interchange from Suffern in Rockland County to the I-287/I-95 interchange in Port Chester in Westchester County. Along with that, AECOM is also providing program management for the New York State Thruway Authority and the MTA Metro-North Railroad.
Financial Study and Demand Forecasting Advisory Services
AECOM’s team of experts is dedicated to researching and modeling all possible public and private financing mechanisms by developing comprehensive case studies of recent funding plans for multimodal projects in the U.S. and abroad, and identifying the regulatory requirements for developing financial plans, the major strategic options and pros and cons of each funding/finance option, and the key “threshold issues,” which are essential to adopting the specific funding/finance option and therefore constituting critical next steps in program implementation.
With a transition to financial modeling in later stages of the project, AECOM has developed a sources and uses of funds analysis, which tests a number of conventional and innovative project delivery approaches, including traditional debt financing with conventional project development, a long-term design-build-operate-maintain- finance (DBOM-F) concession, and a DBOM concession with separate project finance.
Our world-class transportation mega-project financial analysis model, which integrates projections of both capital and operating expenses and revenues, includes an integrated risk assessment capability and permits the rapid examination of alternative assumptions regarding policy and uncertainty variables:
- Policy variables are actions that could be taken by project management to directly control costs and revenues, such as service growth, construction schedules and toll pricing.
- Uncertainty variables include factors beyond the immediate control of project management such as inflation, interest rates, and traffic and revenue.
The findings of the financial feasibility analysis, along with the engineering cost analysis, economic impact analysis, and transportation planning elements of this study, will guide the city towards selection and development of a preferred alternative.
The program includes the replacement of the Tappan Zee Toll Bridge in New York and the introduction of Bus Rapid Transit, a high-speed bus service across the corridor, and Commuter Rail Transit across Rockland County, which would connect with the existing Metro-North Railroad Hudson Line to provide service to Grand Central Terminal in New York City.
AECOM is working closely with other consultants as an extension of the clients’ staffs to coordinate and manage the:
- Alternatives Analysis, Draft and Final Environmental Impact Statement (per NEPA/SEQRA);
- Engineering support activities; and
- Communication with project stakeholders and the public.
As Program Management consultant, AECOM is also providing a wide range of engineering and management services, including:
- Development of the program website;
- Public outreach and participation;
- Technical support for the environmental and preliminary engineering process;
- Traffic planning;
- Development of the project management plan;
- Document control and literature review;
- Information systems and software;
- Quality management;
- Review of other consultants’ work progress; and
- Project controls, cost management, scheduling, and change management.
Partners: American Bridge, GZA, Fluor, Traylor Bros., Granite, URS, Buckland & Taylor, HDR