Transurban has announced that Accelerate Maryland Partners (AM Partners) has decided not to proceed with the Maryland Express Lanes Project and as a result has today submitted a notice to terminate to the Maryland Department of Transportation (MDOT) in regard to the preferred developer agreement. Additional information below, per the Transurban press release:
AM Partners was originally selected in February 2021 as Maryland’s preferred developer for Phase 1 of the project. Since that time, extensive work has been undertaken on the project and draft concession agreement in partnership with MDOT. However, the project continues to face challenges including significant delays to environmental approvals, changing political landscape and environmental lawsuits that remain unresolved. Following extensive good faith negotiations by AM Partners, agreement with MDOT on the form of the concession agreement has not been reached and a committed section proposal will not be submitted by the deadline of 21 March 2023.
In the near to medium term, choosing not to continue with the project enables operating cash and corporate liquidity to be used for other purposes. FY23 distribution guidance remains at 57 cents per security.
Transurban Chief Executive Officer, Scott Charlton said, “We continue to see positive growth potential in North America and the Greater Washington Area (GWA), with regional fundamentals including high levels of congestion and a growing population. Our current projects in GWA include the Fredericksburg Extension project on the 95 Express Lanes and the Northern Extension project on the 495 Express Lanes.”
“We remain disciplined in the pursuit of all opportunities, balancing growth in distributions and investment to create long-term value.”
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FEST OF SPRING Caribbean Wine Food & Music Festival
Get ready to experience the vibrant colors, tantalizing flavors, and infectious rhythms of the Caribbean at the FEST OF SPRING Caribbean Wine Food & Music Festival! Hosted by RHU LLC, this exciting festival is set to take place on May 18, 2024, at the picturesque 16700 Barnesville Rd in Boyds, MD.
Step into a world where the Caribbean spirit comes alive! From 12:00 PM onwards, immerse yourself in a sensory journey that celebrates the unique culture, cuisine, and music of the Caribbean. Whether you're an African American, a Reggae or Soca music enthusiast, a wine lover, or part of the vibrant Caribbean diaspora, this festival promises to delight and captivate you in every way.
Let the enticing aromas of mouthwatering Caribbean dishes tantalize your taste buds. Feast on traditional delicacies prepared by expert chefs, showcasing the rich and diverse culinary heritage of the Caribbean. Indulge in flavorful jerk chicken, succulent seafood, and delectable plantain dishes that will transport you straight to the islands.
Accompanying the culinary extravaganza is a carefully curated selection of premium wines, ensuring the perfect pairing for your palate. Sip on fine wines from renowned vineyards, each sip a reflection of the Caribbean's vibrant spirit. Discover new flavors, expand your wine knowledge, and savor unforgettable moments with every glass.
As the sun sets, get ready to groove to the infectious rhythms of Caribbean music. Feel the pulsating beats of reggae, soca, dancehall, and calypso, moving your body to the lively melodies. Live performances by talented musicians and performers will keep the energy high, ensuring a night of unforgettable entertainment.
Don't miss this opportunity to embrace the Caribbean spirit and celebrate the arrival of spring in style! Tickets are available on AllEvents, so secure your spot today. Join us at the FEST OF SPRING Caribbean Wine Food & Music Festival, where cultures collide and unforgettable memories are made.
LIVE PERFORMANCES By: CULTURE Feat. Kenyatta Hill, EXCO LEVI, IMAGE BAND, RAS LIDJ REGG'GO with Special Guest SUGAR BEAR FROM E.U. & MORE! & MORE!
MUSIC By: DJ ABLAZE, DJ SMALLY & NAJ SUPREME
2 NIGHT Camping packages available: RV/CAMPER $200 | TENTS $150 Starting on Friday May 17 @ 5pm | 30 RV SPACES | 30+ TENT SPACES
KIDS 12 & UNDER FREE!!!
