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state, and this is also being discussed with Macquarie.
Macquarie is an Australian merchant bank and financial services company that provides products and services to investors,
corporations and governments. In recent years it has become involved in American infrastructure. Macquarie Infrastructure
Group partnered with Cintra Concesiones de Infraestructuras de Transporte S.A. in leases of the Chicago Skyway and the
Indiana Toll Road.
This breakthrough in the negotiations stems from the Nov. 7, 2006 general election, according to an Illinois governmental
source who declined to be identified due to the sensitivity of the relationship with Missouri. According to this source, the
Democratic victory in the congressional election has turned the tables and given Illinois an upper hand in the
transportation negotiations.
The Democratic victory will change the power structure in Washington D.C. as Democrats assume leadership positions and
chairmanships of committees. U.S. Sen. Dick Durbin, a Democrat representing Illinois and a strong supporter of the new
bridge project, is a member of the U.S. Senate transportation appropriations subcommittee. Since the general election in
November, Durban has been elected assistant majority leader, giving him significant power over not only transportation
funding but also over a myriad of issues and funds affecting the states.
The Democrats' victory in the Missouri senatorial race has replaced a non-supportive Jim Talent with a strongly
supportive Claire McCaskill. McCaskill, according to Illinois Business Journal sources, understands the importance of a
strong downtown St. Louis and the importance of the new bridge in strengthening downtown.
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And, U.S. Rep. Jerry Costello, a Democrat representing Illinois, is in line to become the chairman of the U.S. House
subcommittee on aviation - giving him extensive power over airport funding. "Missouri has a lot of airports," the source
said.
The Democrats also recognized victories in Illinois' state legislature, giving them the super majority necessary to pass
the long-stalled capital budget that contains funding for projects related to the new Mississippi River Bridge.
All of these developments, according to the source, give Illinois the upper hand in negotiations between the two states.
Costello said state officials are talking, but that he is not yet aware of a definitive plan to finance the bridge.
"They are having discussions," said Costello. "It's encouraging, and I hope they do come up with a plan because the clock
is ticking. There are two issues here. One is inflation. Some have estimated that every month that goes by will add a
minimum of $2 million to the cost. Two, the current highway bill expires in 2009. We've already wasted a year and a half."
Macquarie Infrastructure Group is one of the world's largest developers and operators of private toll roads with a
portfolio of 11 toll roads across seven countries, including Australia. The Macquarie Infrastructure Group is listed
separately on the Australian Securities Exchange, but is managed by a wholly owned subsidiary of Macquarie Bank Limited.
MIG has a 100 percent stake in the M6 Toll road in the United Kingdom, which was constructed to relieve congestion on the
M6 Motorway - one of the UK's busiest motorways. Additionally, MIG has a 100 percent interest in the Dulles Greenway, a
14-mile toll road connecting Washington Dulles International Airport and Leesburg, Va., and the South Bay Expressway, a new
toll road in the San Diego, Calif. area scheduled to open in mid-2007. MIG also has financial interests in the Westlink M7
to the west of Sydney in Australia, the 108km-long 407 ETR (Express Toll Route) in Toronto, Can., and the Autoroutes
Paris-Rhin-Rhone motorway network covering some 2205km of northeastern France.
Macquarie could not be reached for comment on this story.
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