Transportation Policy and Planning: Financing Options for Infrastructure Projects - Prof. , Study Guides, Projects, Research of Public Policy

Download Transportation Policy and Planning: Financing Options for Infrastructure Projects - Prof. and more Study Guides, Projects, Research Public Policy in PDF only on Docsity! TTP220 Transportation Policy and Planning 5/7: Financing Requirements ISTEA established requirement for “fiscally constrained” LRP. TEA-21 called for “fiscally constrained” LRP but allowed additional projects “for illustrative purposes”, plus financial plan in LRP Financial Plan - Cost estimates of projects listed: projects not yet well defined… - Revenue projections: “cooperatively” developed with state DOTs… - Reconciliation… o Restrict projects to projected revenues? o Find ways to expand revenues to fund needed projects? Federal Revenues How large will federal program be? o Assume SAFETEA-LU levels o Firewalls project authorizations from reductions in appropriation bills How much will the MPO get? o Formula funds Programs directly to MPOs, e.g. some STP, CMAQ Bonus equity funds – share to MPOs? o Discretionary funds: e.g. “New Starts” rail program o Matching funds: 20% or more of project, traditionally state gas tax but now… Innovative Financing Pushed by ISTEA, TEA-21, SAFETEA-LU… General Categories - Public vs. private: not clear distinction o How directly we pay o How funds are collected - Timing of spending vs. revenues o Pay as you go o Borrow, i.e. bonds: federal programs have created new means - System-wide vs. project specific Issues to Consider - Funding adequacy - Funding stability - Administrative efficiency: costs to collect? - Political acceptability - Economic efficiency: users pay full costs, so right incentives - Equity: who pays vs. who benefits? - Contribution to societal goals: e.g. equity, environment