Below are the first 10 and last 10 pages of uncorrected machine-read text (when available) of this chapter, followed by the top 30 algorithmically extracted key phrases from the chapter as a whole.
Intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text on the opening pages of each chapter.
Because it is UNCORRECTED material, please consider the following text as a useful but insufficient proxy for the authoritative book pages.
Do not use for reproduction, copying, pasting, or reading; exclusively for search engines.
OCR for page 68
56 T R A N S P O RTAT I O N F I N A N C E
It was noted that when the gas tax was created, the tools that were the focus of Tracks 1 and 2, drew spe-
nation was funding highways. With the focus now on cial attention to potentially missed opportunities and
building intermodal centers and a wide range of non- how to capture these in the future. Some of the com-
highway or multimodal facilities, such investments may mon themes from this track are
call for a new alignment of supporting funding struc-
tures and greater integration across modes. · Recognition that most innovation is local and
that, while the Intermodal Surface Transportation
Efficiency Act and TEA-21 provided good tools, in
TRACK 2 many instances they simultaneously hamstrung the abil-
ity of states and local project sponsors to take advan-
Track 2 sessions focused on the specific tools and tech- tage of those tools via limitations of pilot programs and
niques currently available or envisioned to deliver more other narrowing requirements;
projects at a faster pace. A common theme from this set · Recognition that, in the context of publicprivate
of sessions was the need to move away from considering partnerships, critical issues remain regarding how to
such tools as innovative and toward thinking of them as share the work and the risks and how to properly com-
simply additional tools in the toolbox, without the fan- pensate those taking risks and not compensate those
fare and sometimes the stigma of thinking of these alter- who are not;
natives as innovative or outside the mainstream. · Concern about the interplay of partnership struc-
Key observations by some participants focused on tures and the appropriate level of staffing and expertise
in departments of transportation to oversee private
· The role and importance of strong financial planning; implementation;
· Mounting concerns about potential overleverag- · An expressed need for full disclosure on
ing and the need to make borrowing decisions at the publicprivate partnerships--on who is doing what and
local level and to base them on particular underlying how costs and returns are allocated; and
circumstances; · A view that forecasting results need to be better scru-
· A recognition that decisions about using particular tinized, given their essential role in underlying decisions
techniques are best made at the local level; abut entering into major project commitments.
· A perceived need for a better connection between
financial planning, pure planning, and project priority Through a wide-ranging set of case studies, this track
setting; drew out these common themes and sought solutions to
· The view that quantifying costs and benefits of the the recognized impediments to utilizing publicprivate
various tools is an important element to good decision partnerships and new institutional relationships to
making; and carry out the mounting transportation infrastructure
· An overarching recognition of the importance of funding challenges.
accountability--over both the short- and longer-term
horizons.
TRACK 4
With broad recognition that tools once considered
innovative are gradually becoming mainstream, there is Track 4, with its focus on new transportation initiatives
a strong interest in disbanding the term "innovative" and related demands on financing, brought attention to
for approaches that are not so. With this, many partic- multimodal projects, to mounting security-related
ipants felt that such tools--and new ones--could be demands, and to the continued challenges of funding
applied in the most effective manner. There continues to and delivering new technologies to the transportation
be a search for better planning approaches and analyti- arena. Key observations by some participants in this
cal frameworks to choose among the various track included the following:
approaches and to decide when they are appropriate--
and when they are not--and how to best communicate · Recognition of the need for leadership and the impor-
the costs and benefits to decision makers and to the tance of a champion for multimodal--and multipurpose--
public at large. projects;
· A sense that agreements and partnerships should
cross administrations, especially for large multimodal
TRACK 3 projects;
· Recognition that intelligent transportation sys-
Track 3, with its focus on the structures and institutions tems and other technology innovations are still evolving
needed to work in concert with the funding and finance and would benefit from better integration with other
OCR for page 69
CONFERENCE THEMES 57
programs but some concern that, in this integration, the instance, in the areas of marine terminals and railways;
core concepts could lose their push; and
· Recognition of the need for a strong federal role · A perceived need for better coordination in rela-
in setting standards for technology; tion to the impacts of particular projects and funding
· A concern that the challenge of increased through- solutions across modes.
put without system expansion is not tenable, for
OCR for page 70
