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8 T R A N S P O RTAT I O N F I N A N C E Transit Finance 101: A Primer on Public Trans- ing with alternative revenue sources and about what is portation Funding and New Financing Techniques. being considered for reauthorization and as a foundation for the future. The two advanced workshops were Track 1 panel sessions consisted of the following topics: Conversations with Capital Market Experts and Advanced Transportation Finance Roundtable. Present and Future Core of Federal Funding: Will Trust Fund Revenues Be Enough? Examining Current and Potential Use of Tax Incen- GENERAL SESSIONS tives in Promoting Surface Transportation Investment, Tapping Alternative Revenues at the Regional and The general sessions for the Third National Transporta- Local Level: What Is and What Could Be? and tion Finance Conference were designed to take full User-Pay Techniques: Toll Roads and Beyond. advantage of the breadth of participants at the confer- ence and to home in on financing issues that would be the focus of upcoming reauthorization efforts. To this Track 2: Tools and Techniques to Deliver end the general sessions included formal addresses and More Projects Faster informal roundtable discussions by high-level adminis- tration officials and a U.S. senator (Senator James Jef- Track 2 focused on providing a macro-level view of the fords of Vermont), a panel of key congressional staffers, state of innovative finance, including an assessment of and a culminating roundtable of individuals from a wide what is working, what is not, and what the future holds. range of transportation organizations. Track 2 panel sessions included the following topics: Together, these general sessions provided conference participants with a tremendous opportunity to hear the Characteristics of Strong Financial Planning: most current thinking on finance-related issues from a What It Takes to Have Good Discipline, wide spectrum of perspectives and, just as important, to Innovative Financing to Advance State and Local help shape the debate on these matters. Transportation Programs and Projects, A more detailed synopsis of the conference general Tools and Techniques to Meet Project Funding sessions is provided in the subsequent section of this report. Challenges, and Quantifying and Communicating the Benefits and Costs of Innovative Finance. FOUR TRACKS The agenda for the Third National Conference on Track 3: Structures, Institutions, and Partnerships Transportation Finance was developed around four to Deliver More Projects Faster and Cheaper substantive tracks. Each of the four tracks featured four sessions, each including three to four presentations. Track 3 sessions concentrated on the institutional and The format for each of the 16 standard panel ses- structural elements in implementing alternative approaches sions included a discussant, whose sole function was to to project delivery and financing to deliver projects in the energize the question-and-answer period and to spur most cost-effective and expeditious manner feasible. The discussion following the panel presentations. Two gen- sessions in this track addressed the questions, What has eral sessions were devoted to recapping the highlights of worked? What has not? What does the future hold? and, the panel sessions and further stimulating the exchange finally, How much of a cultural shift has occurred and of views among conference participants. how much more is needed? The four tracks and their associated sessions are Sessions in Track 3 were organized around the fol- outlined below and discussed in later sections of these lowing topics: proceedings. PublicPrivate Partnerships: Taking the Mystery Out of the Three Ps, Track 1: How to Finance the Next PublicPrivate Partnerships: A Matter of Survival, Transportation Program--Reauthorization Privatization and Outsourcing of Transportation and Beyond Functions: Impact on Finances of the Transportation Organization, and Track 1 focused on providing an overview of reautho- Innovative Contracting and Implications for rization and ideas about how to augment traditional fund- Transportation Finance.