Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow (2005)

Below is the uncorrected machine-read text of this chapter, intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text of each book. Because it is UNCORRECTED material, please consider the following text as a useful but insufficient proxy for the authoritative book pages.

8 6 Conference Steering Committee Member Biographies Affiliations listed are as of the date of the Transportation Financing Conference, October 2002. William D. Ankner, Committee Chair, is director of the Rhode Island DOT (RIDOT). He came to RIDOT in December 1996 from the Delaware DOT (DDOT), where he was director of financial management and budget, a position he held for 3 years. While at RIDOT, Ankner increased the department’s productivity and implemented a fix-it-first philosophy, allocating the majority of the department’s funding to fix- ing the infrastructure before undertaking new projects. He also instituted a bridge maintenance program that was designed to better track the condition of the state’s bridges. Ankner was committed to the success of the state’s bicy- cle and pedestrian path network, stressing its importance within the state’s overall transportation system. He was also a strong advocate for intermodalism, helping to develop a seamless transportation system and providing the necessary infrastructure for the connection between air, transit, and rail. He also supported the state’s enhancement program, which focused its efforts on nontraditional transportation projects such as those that improve the environment, preserve historic resources, and beautify the landscape. Ankner’s leadership resulted in a variety of legislative successes. Crucial traffic legislation passed during his tenure includes stiffer penalties for drunk drivers; a graduated driver’s license bill; a law requiring helmets for children who use bikes, scooters, and in-line skates; a $50 penalty for failing to wear a seatbelt; a child endangerment law; and an open container law. In his role as RIDOT director, Ankner headed the gov- ernor’s Office on Highway Safety, served on the boards of the Rhode Island Turnpike and Bridge Authority, the Rhode Island Public Transit Authority, and the Trans- portation Center of Excellence at the University of Rhode Island. He was the governor’s representative on interna- tional trade for the New England Governors and Eastern Canadian Premiers Association. Also, he is past president of the Northeast Association of State Transportation Offi- cials (NASTO) and its regional representative to the AASHTO-AGC-ARTBA (American Association of State Highway and Transportation Officials, Associated Gen- eral Contractors of America, and American Road and Transportation Builders Association) Joint Committee. As a member of the board of AASHTO, he chaired AASHTO’s Administrative Subcommittee on Trans- portation Finance and served on the Standing Commit- tees for Aviation and the Environment. He is an adjunct professor at the University of Rhode Island and a Trustee of Bryant College. Ankner holds an M.A. and a Ph.D. from the Univer- sity of Ottawa, an L.Ph. from St. Paul’s University (Ottawa), and a B.A. from Stonehill College in North Easton, Massachusetts. Peter J. (Jack) Basso is director of management and busi- ness development for AASHTO. Having joined AASHTO as chief operating officer and business development direc- tor in March 2001, he oversees the management of a $33 million nonprofit organization representing the interests of state DOTs. He develops new member services and

more aggressively markets current technical services pro- vided for AASHTO members. Basso works closely with congressional staff and with other associations who have mutual interests in transportation financing issues. Before joining AASHTO, Basso served as assistant secretary for budget and programs and as chief finan- cial officer of the USDOT. In that capacity, he oversaw the development of a $60 billion budget and interacted with senior officials, members of Congress and their staffs, and key industry officials on a wide variety of transportation matters. Before his appointment by President Bill Clinton to this position, he served as deputy assistant secretary for budget and programs. Basso’s 34 years of service as a career official included assignments such as assistant director for general man- agement of the Office of Management and Budget, deputy chair for management of the National Endow- ment for the Arts, and director of fiscal services for the Federal Highway Administration (FHWA). He has held numerous positions in administration and management with FHWA. Basso has served as a board member and chair of numerous councils, including 5 years as a member of the President’s Council on Management Improvement rep- resenting the independent agencies of the executive branch and 5 years as chair of the Small Agency Coun- cil. He also served as a member of the Consolidated Administrative Support Units board of directors. Basso earned a B.S. in business administration from the University of Maryland at College Park and continued graduate study in general administration at the university from 1980 to 1981. Basso is the recipient of various awards, including the Presidential Rank Award of Meritorious Executive in 1989 and 1997; Senior Executive Service (SES) Bonus Awards, 1991 thorough 1996; the President’s Council on Management Improvement, Special Recognition Award, 1990; Executive Achievement Award, 1988; Senior Exec- utives Association, Distinguished Service Award, 1987; National Endowment for the Arts, Faculty Excellence Award, U.S. Department of Agriculture Graduate School, 1987; SES Performance Awards, 1985 through 1988; and the Administrator’s Award for Superior Achievement (bronze medal), 1980. Thomas W. Bradshaw, Jr., is managing director and co- head of Salomon Smith Barney’s Transportation Group. Before joining Salomon Smith Barney, Thomas Bradshaw worked for another major investment banking firm in New York. He was responsible for senior management of transportation financing for the Arizona, Colorado, Indiana, and Missouri DOTs; the Montana and Alabama Highway Departments; the Dallas Area Rapid Transit Authority; the Los Angeles County Transportation Com- mission; the New York Metropolitan Transportation Authority; the Orange County Transportation Corridors Agencies; the Contra Costa County Transportation Authority; the Riverside County Transportation Author- ity; the San Bernardino Transportation Authority; and the San Diego Transportation Commission Bradshaw also had responsibility for senior manage- ment of turnpike financings for New Jersey, New Hampshire, Florida, Massachusetts, Oklahoma, Texas, Illinois, Kentucky, and Harris County–Houston, Texas. He is currently involved in the financing of the Tren Urbano transit system and toll road improvements in Puerto Rico and with public–private transportation projects in California, Massachusetts, and Colorado. In 1993, Bradshaw led a banking team’s successful introduction to capital markets of the San Joaquin Hills Transportation Corridor, the first public toll road in California. The transaction encompassed $1.2 billion in senior and junior lien financing. He was also a senior manager for the $1.5 billion Eastern Transportation Corridor project in 1995 and the $1.6 billion Foothill Transportation Corridor project in 1999. From 1977 to 1981, Bradshaw served as secretary of transportation for North Carolina. He is a past presi- dent of the Southeastern Association of State Highway and Transportation Officials and a former vice presi- dent of AASHTO and has served as a member of the executive committee of the Transportation Research Board (TRB) of the National Academy of Sciences (NAS). Bradshaw has served on the board of consul- tants of the Eno Transportation Foundation and as a member of the Board of Highway Users Federation. He has been active in the development of transportation legislation on both the state and national levels. He is a former mayor of the City of Raleigh, North Carolina; a former chairman of the Triangle J Council of Governments serving the Raleigh–Durham–Chapel Hill area of North Carolina; and a former member of the board of directors of the National League of Cities and of the Transportation Committee of the U.S. Conference of Mayors. He is the former chairman of the North Carolina Environmental Management Commission, the Greater Raleigh Chamber of Commerce, the United Way of Wake County, and the North Carolina Citizens for Business and Industry. He is vice chairman of the North Carolina Global TransPark Authority and is a member of the Southern Growth Policies Board. He currently serves as the chairman and a member of the Executive Committee of the Board of the Public School Forum for North Carolina. Bradshaw is a frequent speaker on transportation financing for public and private policy groups [e.g., AASHTO, American Public Transportation Association 8 7CONFERENCE STEERING COMMITTEE MEMBER BIOGRAPHIES

(APTA), Institute of Transportation Engineers (ITE), Design-Build Institute, National Association of Regional Councils, American Public Works Association, Ameri- can Automobile Association, U.S. Conference of May- ors, National League of Cities, U.S. Chamber of Commerce, and other organizations]. Bradshaw served as chairman of the Transportation Alternatives Group of the Transportation 2020 Program and chairman of the National Transportation Alliance that led to many of the new flexibilities included in Intermodal Surface Transportation Efficiency Act (ISTEA) and Transportation Equity Act for the 21st Century legislation. He is a former president of ARTBA’s Public-Private Ventures division and a member of ARTBA’s board. He also has served on the board of associates of the Airport Council International–North America. Anne P. Canby serves as senior consultant at Cambridge Systematics, Inc. She was Delaware’s transportation secretary from 1993 to 2001. Canby is recognized nationally as a progressive leader in the transportation field for transforming a traditional highway agency into a multimodal mobility provider and as an advocate for integrating land use and trans- portation planning. Under her leadership, DDOT shifted emphasis from highway expansion to provid- ing choice and preserving and managing the existing transportation system, and improving transit service became a priority. The department invested in inte- grated technology initiatives as part of its overall busi- ness plan in support of system management and internal operations; training and diversity programs were instituted to strengthen professional skills of department staff; and strong public outreach pro- grams were initiated. A key area of emphasis was shaping transportation projects to enhance communi- ties. Canby has been recognized in the leading state newspaper as the most creative and competent cabinet member of the Carper administration. Before serving as Delaware’s transportation secre- tary, Canby led a consulting practice that focused on institutional and management issues, with particular emphasis on implementation of ISTEA. She has been treasurer of the Massachusetts Bay Transportation Authority, commissioner of the New Jersey Department of Transportation and deputy assis- tant secretary of the USDOT. Canby has served on the executive committee or board of numerous transporta- tion organizations, including TRB, AASHTO, and NASTO. She is a member of the Urban Land Institute, ITE’s National Operations Steering Committee, and the Women’s Transportation Seminar. She has been recognized for her leadership by APTA, the Association of Metropolitan Planning Organizations, and the Delaware Chapter of the American Planning Association. Lowell R. Clary is chief financial planner responsible for advising senior management on transportation finance policies and initiatives at the Florida DOT and for the financial management of federal aid that averages $1.5 billion annually. Clary is an experienced state govern- ment manager in a wide range of areas, including exec- utive level management, management information systems, finance and accounting, budgeting, federal funds management, revenue collection, bonded debt issuance and management, procurement, personnel man- agement, auditing, federal relations, legislative process, and press relations. He has significant experience in many state program areas, including transportation, health and social services, public safety, education, finan- cial management, and revenue collection. He also is knowledgeable about environmental regulations, pro- fessional regulations, community affairs, and law enforcement. He holds a B.A. in accounting from Florida State University, and he is a certified public accountant. Clary is a member of the TRB Committee on Taxation and Finance. Yuval Cohen is a principal at PB Consult and conducts financial and economic evaluations for infrastructure projects worldwide. As a manager of complex projects involving toll highways and bridges, advanced rail, heavy rail, mass transit, pipelines, air transportation, contami- nated materials, and water treatment facilities, his broad- ranging management consulting engagements have included evaluating concession approaches to trans- portation finance; assessing toll revenue financing and other funding techniques; analyzing rates of return and life-cycle issues; assessing public transit (rail and surface) productivity, cost and operations issues; and assessing development and commercial bank transactions in emerging markets. Cohen has provided specialized expertise to private lenders, investors, and developers engaged in designing, building, operating, and maintaining transportation facilities; to public agencies considering innovative approaches to finance programs; and to freight shippers (air, surface, and water) affected by regulatory control, deregulation, or privatization. He has managed projects throughout the United States, central Europe, and Latin America and is a recognized authority on concession- based financial portfolios. Cohen has published widely in project finance and serves on the editorial board of Project Finance. 8 8 TRANSPORTATION FINANCE

For his undergraduate degree in philosophy, politics, and economics, Cohen was awarded a Barnet scholar- ship, and he was a memorial scholar at Oxford University in the United Kingdom. He earned his doc- torate in economics at Columbia University, with a dis- sertation under Nobel prize winner William Vickrey on congestion pricing. He has served on the faculties of Rutgers and Adelphi Universities. Edward J. Corcoran II became affiliated with the Boston firm of Foley Hoag LLP as counsel on November 1, 1999. Corcoran joined the Infrastructure Privatization and Practice Group and concentrates on providing advice to public and private sector clients in the area of infrastructure development. Corcoran focuses on the implementation of innovative financing and procurement strategies for major projects in the transportation and public education arenas, including design–build and design–build–finance methods of project delivery. Before joining Foley Hoag, Corcoran served as deputy secretary for policy and planning for the Massachusetts Executive Office of Transportation and Construction. In this capacity, he was responsible for the development of strategies for implementing innovative financing initiatives for both highway and transit projects. He drafted autho- rizing legislation and developed and managed the procure- ment process for the Route 3 North Transportation Improvement Project, the first design–build–finance trans- portation project in New England. Corcoran also served as the deputy commissioner, chief counsel, and right-of-way director for the Massa- chusetts Highway Department (MassHighway), an agency within the executive office responsible for con- structing and maintaining the commonwealth’s highway and bridge network. A graduate of Brown University and Suffolk University Law School, Corcoran is licensed to practice in the state and federal courts of both Massachusetts and Rhode Island. Before joining MassHighway, Corcoran practiced in the Newport, Rhode Island, firm of Corcoran, Peckham & Hayes, PC. John W. Flora is director of the department responsible for the transportation, urban development, and disaster management and mitigation sectors in the World Bank’s central vice presidency for finance, private sector, and infrastructure. He has over 37 years’ experience in pol- icy, planning, design, and operations. He began his career in municipal government, where he was responsible for urban transport planning and operations. He subse- quently worked for 12 years as a consultant in trans- portation and urban development to public- and private-sector clients throughout the United States, Europe, east and south Asia, and Latin America. He has served as principal investigator on USDOT research stud- ies and developed and taught urban transport and urban development training courses in the United States and other countries. He joined the World Bank in 1982. He is a registered professional engineer. Bryan Grote is a principal at Mercator Advisors LLC, a financial advisory consulting firm that helps public and private entities implement financial assistance programs and infrastructure project financings. Grote works with governmental agencies, special purpose organizations, and private firms to access public and private funding sources by synthesizing governmental budgetary and financial practices with capital markets requirements. The firm has a special focus on transportation infrastructure projects and programs. Before he joined Mercator Advisors, Grote headed the USDOT’s Transportation Infrastructure Finance and Innovation Act Joint Program office, where is was responsible for the evaluation and negotiation of more than $3 billion in direct loans, loan guarantees, and lines of credit to support project investments totaling nearly $12 billion. He also coordinated legislative pro- posals, financial policies, special projects, and new pro- grams as financial policy advisor to the USDOT’s assistant secretary–chief financial officer. Grote previ- ously worked on budgetary and policy matters for sev- eral federal agencies, including the Congressional Budget Office, the Office of Management and Budget, and the U.S. General Accounting Office. Grote is a graduate of the University of North Carolina and holds a master’s degree in public policy from the University of Minnesota. Dennis G. Houlihan is on the national staff of the 1.3- million-member American Federation of State, County and Municipal Employees (AFSCME), AFL-CIO. As a member of the union’s Department of Research and Col- lective Bargaining Services, Houlihan advises the union’s members and affiliates on labor–management relations, public finance, privatization, and other public policy issues involving transportation, public works, housing, and water and wastewater agencies. He is a member of TRB’s Management and Productivity Committee. Before joining AFSCME in 1988, he was the assistant to the director of NAS’s Committee on Science, Engineering and Public Policy’s Panel on Technology and Employment. He also was on the staff of the U.S. House of Representa- tives, Subcommittee on Labor Standards. Before moving to Washington, D.C., in 1981, he was a San Fran- cisco–based consulting city planner for local and state 8 9CONFERENCE STEERING COMMITTEE MEMBER BIOGRAPHIES

governments. Houlihan received a master’s in public pol- icy from the University of California, Berkeley, and a B.A. in urban studies from San Francisco State University. Susan P. Mortel is director of planning and program operations for the Michigan DOT’s (MDOT’s) Bureau of Transportation Planning. Before assuming that post, she had been assistant deputy director. She is responsi- ble for directing the planning and programming process for MDOT’s $1.2 billion capital program, including the development of all major planning products for the department. She also is responsible for directing the day-to-day operations of the Bureau of Transportation Planning. Mortel is a member of TRB’s Committee on Statewide Multimodal Planning and participates regularly on National Cooperative Highway Research Program pan- els. She is actively involved in support of MDOT’s activ- ities in AASHTO and is a past recipient of MDOT’s Director’s Award. Mortel has worked for MDOT in positions of increasing responsibility since 1977. She is a cum laude graduate of Bowling Green State University (Ohio) with a B.S. in environmental studies. She has also conducted coursework in the Michigan State University master of public administration program. Michael A. Pagano is professor and director of the grad- uate program in public administration at the University of Illinois at Chicago (UIC). Before his appointment at UIC, he was professor of political science at Miami University, where he taught for 21 years. He is author of two books on urban infrastructure and economic devel- opment; editor of Urban Affairs Review; on the editor- ial board of several other journals, including Public Works Management and Policy; and author of over 50 articles and book chapters on capital budgeting and finance, infrastructure, urban policy, and intergovern- mental relations. He writes an annual city fiscal condi- tions report for the National League of Cities, serves as a faculty fellow for the Great Cities Institute at UIC, and is a member of TRB’s Steering Committee for the 3rd National Transportation Research Conference. William G. Reinhardt is editor, publisher, and owner of Public Works Financing (PWF), the oldest subscription- based newsletter in the world covering outsourcing, public–private partnerships in infrastructure develop- ment, and innovative finance. Under business journalist Reinhardt’s direction, PWF has been in continuous monthly publication since January 1988. Reinhardt started PWF in 1987 after serving on the editorial staff of McGraw-Hill’s Engineering News-Record. PWF now has 3,500 readers and 44 advertisers in 15 countries. PWF’s focus is on the new business opportunities, poli- tics, regulation, deal structures, legal issues, and people involved in developing, financing, and operating infra- structure projects. These include airports, roads, bridges, rail projects, prisons, seaports, public buildings, and water and wastewater facilities. Such limited-recourse project financings fall under the general category of privatization or public–private partnerships. PWF’s readers now include government budget, fis- cal management, and public works administrators; senior executives at most major international construc- tion and engineering companies; 55 of the world’s largest law firms; all major global consulting firms; public and private bankers involved in project finance; institutional investors; and the new international class of infrastructure developers. Reinhardt has received a number of awards for the timeliness and accuracy of his reporting. The National Council for Public–Private Partnerships, the New York Business Press Association, the Atomic Industrial Forum, the Water and Environment Federation, and the New Jersey Press Association have recognized his jour- nalistic excellence in covering energy, environmental, and infrastructure development issues during the past 25 years. Reinhardt is a member of an ongoing National Research Council (NRC) study group on water privati- zation in the United States and of a steering committee on innovative finance at TRB. Both groups are part of NAS. Anthony J. Taormina is an associate at OmniTRAX, Inc., an affiliate of the Broe Companies, Inc., located in Den- ver, Colorado. OmniTRAX is one of the largest private rail and rail-related operations in North America. In his capacity as director of seaport development, Taormina is responsible for expanding existing OmniTRAX and Broe activities in the area of seaport development through acquisitions, investments, and public–private ventures. From 1975 through May 2002, he served as executive director on three U.S. seacoasts. He was also appointed executive director of the Port of Palm Beach District; exec- utive director, Mississippi State Port Authority at Gulfport; and executive director, Oxnard Harbor District, Port of Huanne. Taormina is a former chair of the TRB Commit- tee on Ports and Channels. He was also a member of the NRC Steering Committee on the Intermodal Challenge: Freight Transportation Issues for the 21st Century. Vicki L. Winston has served as management services administrator for the Alameda County (California) Public Works Agency since joining the county in November 1999. She is responsible for the financial man- agement of the agency’s road and flood zone funds, with an annual operating and capital budget exceeding $100 9 0 TRANSPORTATION FINANCE

million. Winston has more than 16 years’ experience in the public sector in financial and operational analyses. She holds a B.A. in education from the University of North Carolina, Chapel Hill, and a B.A. in international relations from San Francisco State University and has completed coursework for a master’s in public adminis- tration and urban studies from San Francisco State University. She is active in her community, serving as president of her neighborhood council, as member and rotating chairperson of the El Sobrante Valley Coordinating Council, on the Steering Committee of the El Sobrante Downtown Revitalization Committee, and as planning commissioner for the city of Richmond, California. 9 1CONFERENCE STEERING COMMITTEE MEMBER BIOGRAPHIES