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Conference Proceedings 33: Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow (2005)
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Transportation Research Board. "Discussion." Conference Proceedings 33: Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow. Washington, DC: The National Academies Press, 2005.

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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)

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S T R U C T U R E S , I N S T I T U T I O N S , A N D PA RT N E R S H I P S 49 Construction would be completed in 28 months, with Wineland described his as the "case study that was- an estimated $89 million in savings through the n't." He doesn't know how the airport--or others like warranty arrangement. This was accomplished without it--will meet the legislated requirements and is con- adding staff or disrupting other projects already in cerned about the economic implications for BWI, for the STIP. the region, and for the country. South Carolina Discussion John Walsh Greg Henk John Walsh presented the second case study, South The discussion for this session, facilitated by Greg Henk, Carolina's 27 in 7 Program, by which the state is imple- focused on the facts that innovative financing tools are menting a $5.3-billion work program through a con- now in place at the state and federal levels but that there struction and resource management (CRM) approach. continue to be issues associated with the implementation Through this program, the state aims to complete 27 of these tools that must be resolved locally and up front years of projects in only 7 years. before they can be used to maximum benefit. Walsh described a variety of financing mechanisms It was noted that the traditional pay-as-you-go that accompany the outsourced CRM approach. These method for financing projects is creating difficulties for include the following: states with large capital needs. Reviewing innovative techniques and thinking creatively to resolve individual · Use of the South Carolina State Infrastructure project needs as well as program needs are becoming Bank, more essential as states address their extensive infra- · Issuance of state highway bonds, and structure needs. Examples of some of the issues that the · Maximized federal share. group identified as needing to be addressed include these: Walsh described how through this approach the state would deliver a vastly accelerated program. Through · Establishing partnerships for funding, oversight, the use of outsourced managers, the state has in essence and reporting; extended its staff resources without replacing agency · Labor issues; decision making. · The need for local buy-in to utilize available tech- niques; · Interagency coordination among state, local, and Aviation and Homeland Security federal players; and · A variety of legislative barriers. Kirk Wineland Keys to success identified in this session include the Presenting the third case study, Kirk Wineland of following: Baltimore/Washington International (BWI) Airport focused on the new challenges of homeland security in · Maintaining a customer focus when identifying the aviation sector. He described for session partici- innovative financing techniques, pants the challenges of implementing congressionally · Involving all appropriate parties and doing so at legislated security measures on an aggressive schedule an early stage of the process, and the requisite need to use alternative methods to · Identifying constraints and roadblocks early in an accomplish this. BWI, like other airports all over the attempt to overcome issues, country, is struggling to meet this challenge and look- · Seeking flexibility with partners, and ing for new approaches to help with this seemingly · Knowing the tools and techniques available and daunting mission. being willing to think outside the box.