Conference Proceedings 33: Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow

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Table of Contents
Transportation Finance Meeting the Funding Challenge Today, Shaping Policies for Tomorrow 1-1
TRANSPORTATION RESEARCH BOARD 2005 EXECUTIVE COMMITTEE* 2-6
CONFERENCE PROGRAM 7-7
ACKNOWLEDGMENTS 8-8
Contents 9-12
COMMON THEMES AND KEY OBSERVATIONS 13-13
Underlying Framework and Trends 14-14
Legislative 15-15
RECOMMENDATIONS REGARDING FUTURE RESEARCH 16-16
ASSESSMENT OF THE CONFERENCE AND RECOMMENDATIONS FOR FUTURE EVENTS 17-18
PRECONFERENCE WORKSHOPS 19-19
Track 3: Structures, Institutions, and Partnerships to Deliver More Projects Faster and Cheaper 20-20
Track 4: New Transportation Initiatives and Demands on Financing 21-22
General Sessions 23-24
WELCOME AND CHARGE 25-25
Track 2: Tools and Techniques to Deliver More Projects Faster 26-26
Track 4: New Transportation Initiatives and Demands on Financing 27-27
LUNCHEON SESSION Transportation Challenges to the Nation 28-29
TRACK 2: TOOLS AND TECHNIQUES TO DELIVER MORE PROJECTS FASTER 30-30
TRACK 4: NEW TRANSPORTATION INITIATIVES AND DEMANDS ON FINANCING 31-31
LEVERAGING FEDERAL FUNDING 32-32
COMMENTS 33-33
TRACK 2: TOOLS AND TECHNIQUES TO DELIVER MORE PROJECTS FASTER 34-34
TRACK 4: NEW TRANSPORTATION INITIATIVES AND DEMANDS ON FINANCING 35-35
GENERAL SESSION 4 Transportation Finance in the Context of Reauthorization and Beyond Administration's Perspective 36-36
REAUTHORIZATION AND FINANCING 37-37
OPEN DISCUSSION 38-38
ARTBA'S PERSPECTIVE 39-39
FOCUSING ON THE SYSTEM 40-40
Track Reports 41-42
What Could Be: Looking Ahead to Alternative Fuels, Taxes, and Other Revenue Sources 43-43
Considering Transportation Finance Approaches Used by Other Governments 44-44
SESSION 2: EXAMINING CURRENT AND POTENTIAL USE OF TAX INCENTIVES IN PROMOTING SURFACE TRANSPORTATION INVESTMENT 45-45
Tax Credit Bonds to Finance Infrastructure: Theory and Practice 46-46
Discussion 47-47
Making Room for Maintenance: The Intelligent Renewal of Our Existing Transportation System 48-48
Opportunities for Value Capture and Value Pricing 49-49
Discussion 50-50
Integrating Innovate Financing into the Transportation Planning Process 51-51
SESSION 2: INNOVATIVE FINANCING TO ADVANCE STATE AND LOCAL TRANSPORTATION PROGRAMS AND PROJECTS 52-52
Discussion 53-53
Freight Infrastructure Bank Proposal 54-54
Communicating Innovative Finance to the Public 55-55
Discussion 56-56
Setting the Stage: Public-Sector Perspective on Roles and Risk Sharing 57-57
Las Vegas Monorail 58-58
Virginia's Privatization Initiative: Outcome-Based Highway Asset Management 59-59
New Mexico 60-60
Discussion 61-61
Financing Intermodal Connections: Bringing Down the Funding Silos for the I-95 Rail Study 62-62
Short-Line Rail: Private Investments in the Marine Transportation System 63-63
Discussion 64-64
Discussion 65-66
TRACK 1 67-67
TRACK 4 68-70
Resource Papers 71-72
WHAT SHOULD BE THE GOAL OF REAUTHORIZATION? 73-73
HAS TEA-21 MET THE GOALS OF MAINTAINING SYSTEM CONDITION AND PERFORMANCE AND IMPROVING SAFETY? 74-74
WHAT FUNDING LEVEL WILL REAUTHORIZATION NEED TO ESTABLISH TO MAINTAIN CONDITION AND PERFORMANCE? 75-75
Enhancements to the Fuel Excise Tax 76-76
Tax Credit Bonds 77-77
Tolling 78-79
CONCLUSION 80-80
INNOVATIVE FINANCE FRAMEWORK 81-81
IMPEDIMENTS TO PROJECT DELIVERY 82-82
ENVIRONMENTAL CLEARANCE AND STATUTORY REQUIREMENTS 83-83
POLITICAL AND INSTITUTIONAL FACTORS 84-85
EXPEDITING PROJECT DELIVERY: A CHALLENGE TO THE TRANSPORTATION FINANCE COMMUNITY 86-86
What Is This Strategy Intended to Accomplish? 87-87
What Is This Strategy Intended to Accomplish? 88-88
Where Is This Strategy Leading Us? 89-89
State Departments of Transportation Caught in the Middle 90-90
Local Resistance to Innovative Finance Initiatives 91-91
BACKGROUND 92-92
TECHNOLOGY 93-94
IMPLICATIONS 95-96
Acronyms 97-97
Conference Steering Committee Member Biographies 98-103
Participants 104-111

Table of Contents

Transportation Finance Meeting the Funding Challenge Today, Shaping Policies for Tomorrow 1-1

TRANSPORTATION RESEARCH BOARD 2005 EXECUTIVE COMMITTEE* 2-6

CONFERENCE PROGRAM 7-7

ACKNOWLEDGMENTS 8-8

Contents 9-12

COMMON THEMES AND KEY OBSERVATIONS 13-13

Underlying Framework and Trends 14-14

Legislative 15-15

RECOMMENDATIONS REGARDING FUTURE RESEARCH 16-16

ASSESSMENT OF THE CONFERENCE AND RECOMMENDATIONS FOR FUTURE EVENTS 17-18

PRECONFERENCE WORKSHOPS 19-19

Track 3: Structures, Institutions, and Partnerships to Deliver More Projects Faster and Cheaper 20-20

Track 4: New Transportation Initiatives and Demands on Financing 21-22

General Sessions 23-24

WELCOME AND CHARGE 25-25

Track 2: Tools and Techniques to Deliver More Projects Faster 26-26

Track 4: New Transportation Initiatives and Demands on Financing 27-27

LUNCHEON SESSION Transportation Challenges to the Nation 28-29

TRACK 2: TOOLS AND TECHNIQUES TO DELIVER MORE PROJECTS FASTER 30-30

TRACK 4: NEW TRANSPORTATION INITIATIVES AND DEMANDS ON FINANCING 31-31

LEVERAGING FEDERAL FUNDING 32-32

COMMENTS 33-33

TRACK 2: TOOLS AND TECHNIQUES TO DELIVER MORE PROJECTS FASTER 34-34

TRACK 4: NEW TRANSPORTATION INITIATIVES AND DEMANDS ON FINANCING 35-35

GENERAL SESSION 4 Transportation Finance in the Context of Reauthorization and Beyond Administration's Perspective 36-36

REAUTHORIZATION AND FINANCING 37-37

OPEN DISCUSSION 38-38

ARTBA'S PERSPECTIVE 39-39

FOCUSING ON THE SYSTEM 40-40

Track Reports 41-42

What Could Be: Looking Ahead to Alternative Fuels, Taxes, and Other Revenue Sources 43-43

Considering Transportation Finance Approaches Used by Other Governments 44-44

SESSION 2: EXAMINING CURRENT AND POTENTIAL USE OF TAX INCENTIVES IN PROMOTING SURFACE TRANSPORTATION INVESTMENT 45-45

Tax Credit Bonds to Finance Infrastructure: Theory and Practice 46-46

Discussion 47-47

Making Room for Maintenance: The Intelligent Renewal of Our Existing Transportation System 48-48

Opportunities for Value Capture and Value Pricing 49-49

Discussion 50-50

Integrating Innovate Financing into the Transportation Planning Process 51-51

SESSION 2: INNOVATIVE FINANCING TO ADVANCE STATE AND LOCAL TRANSPORTATION PROGRAMS AND PROJECTS 52-52

Discussion 53-53

Freight Infrastructure Bank Proposal 54-54

Communicating Innovative Finance to the Public 55-55

Discussion 56-56

Setting the Stage: Public-Sector Perspective on Roles and Risk Sharing 57-57

Las Vegas Monorail 58-58

Virginia's Privatization Initiative: Outcome-Based Highway Asset Management 59-59

New Mexico 60-60

Discussion 61-61

Financing Intermodal Connections: Bringing Down the Funding Silos for the I-95 Rail Study 62-62

Short-Line Rail: Private Investments in the Marine Transportation System 63-63

Discussion 64-64

Discussion 65-66

TRACK 1 67-67

TRACK 4 68-70

Resource Papers 71-72

WHAT SHOULD BE THE GOAL OF REAUTHORIZATION? 73-73

HAS TEA-21 MET THE GOALS OF MAINTAINING SYSTEM CONDITION AND PERFORMANCE AND IMPROVING SAFETY? 74-74

WHAT FUNDING LEVEL WILL REAUTHORIZATION NEED TO ESTABLISH TO MAINTAIN CONDITION AND PERFORMANCE? 75-75

Enhancements to the Fuel Excise Tax 76-76

Tax Credit Bonds 77-77

Tolling 78-79

CONCLUSION 80-80

INNOVATIVE FINANCE FRAMEWORK 81-81

IMPEDIMENTS TO PROJECT DELIVERY 82-82

ENVIRONMENTAL CLEARANCE AND STATUTORY REQUIREMENTS 83-83

POLITICAL AND INSTITUTIONAL FACTORS 84-85

EXPEDITING PROJECT DELIVERY: A CHALLENGE TO THE TRANSPORTATION FINANCE COMMUNITY 86-86

What Is This Strategy Intended to Accomplish? 87-87

What Is This Strategy Intended to Accomplish? 88-88

Where Is This Strategy Leading Us? 89-89

State Departments of Transportation Caught in the Middle 90-90

Local Resistance to Innovative Finance Initiatives 91-91

BACKGROUND 92-92

TECHNOLOGY 93-94

IMPLICATIONS 95-96

Acronyms 97-97

Conference Steering Committee Member Biographies 98-103

Participants 104-111