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S U M M A RY O F D AY 2 23
She linked these sessions to the resource paper presented did--that the innovative financing tools are generally
by Sharon Greene on Day 1 of the conference. The author in place at the state and local level, that traditional
contended that "without supporting legislative, administra- pay-as-you-go approaches are creating problems, and
tive, and programmatic changes in the overall project devel- that the need for alternative techniques has been
opment and delivery system, the financial innovations proven.
become far less compelling" in supporting the expedient Wresinski identified several keys to success:
delivery of projects. Hussey reported that the toolbox is
apparently equipped not perhaps with all the answers, but · Customer focus,
with a significant number of financial tools capable of mov- · Involvement of all partners and stakeholders,
ing projects that have achieved "readiness" into construc- · Early identification of roadblocks, and
tion and ultimate operation. However, the substantial · Knowledge of the tools and techniques to facilitate
"everything else" that precedes that state of readiness-- thinking beyond the box.
environmental approvals received, institutional structures
in place, stakeholder backing accomplished--is a key bot-
tleneck in even reaching the point where the considerable TRACK 4: NEW TRANSPORTATION INITIATIVES
financing tools at our disposal can be applied. AND DEMANDS ON FINANCING
Hussey noted that conference participants were hear-
ing about only projects that managed to negotiate the Paul Marx
development process and all its pitfalls. But participants
were not hearing about good projects that cannot pass the Offering a summary of the final track, Paul Marx
first starting gate to take advantage of the demonstrable described these sessions as including "everything and
acceleration benefits of the financing tools. the kitchen sink." The first session discussed possible
She remarked on the many smart people in the room, solutions for intercity passenger rail service, such as
people who are in a position to help address non- expansion of eligibility for discretionary and appor-
finance-related barriers and make more good projects tionment funding. Marx mentioned the difficulty of
ready sooner. By shortening the time necessary just to some possible approaches because tracks--and fund-
arrive at the finance stage, where we have tools proven ing responsibility--cross state lines. The session also
to accelerate project delivery from that point on, we will addressed funding for aviation and highlighted simi-
truly be taking best advantage of innovative financing larities and differences between that and passenger
strides to deliver more needed projects sooner. rail funding.
The afternoon session emphasized funding for
new technologies. Marx related comments by
TRACK 3: STRUCTURES, INSTITUTIONS, AND Richard Mudge that we should not be afraid to help
PARTNERSHIPS TO DELIVER MORE PROJECTS private-sector actors make money. Potential direc-
FASTER AND CHEAPER tions identified in this session included the elimina-
tion of minimum project costs for credit program
David Wresinski eligibility for projects introducing new technologies
and a focus on developing a wireless network on the
Wresinski provided the synopsis of Track 3 and its six Interstate with at least a secondary purpose of
case studies. He noted--as others in the conference enhanced security.
