Alternative funding strategies for improving transportation facilities : a review of public private partnerships and regulatory methods.

Details

• Creators:
  Williams, Kristine M.
• Corporate Creators:
  University of South Florida. Center for Urban Transportation Research
• Corporate Contributors:
  North Carolina. Dept. of Transportation
• Subject/TRT Terms:
  • Alternatives analysis
  • Equity (Justice)
  • Financing
  • Improvements
  • Public private partnerships
  • Regulation
• Resource Type:
  Tech Report
• Geographical Coverage:
  United States
• Corporate Publisher:
  University of South Florida. Center for Urban Transportation Research
• Abstract:
  Transportation agencies seem to be paying more and more for less and less. Project ; costs are outpacing budget estimates in many areas, while growth in demand continues ; to strain available capacity. Right of way costs in particular are consuming a growing ; amount of project funding, as are construction costs spurred by spikes in global demand ; for materials. These issues, along with public opposition to taxes and inadequate local ; measures for managing the transportation needs of new development, are contributing ; to transportation funding shortfalls and stalled projects in many states. ; Keeping pace with transportation demand is particularly challenging in high growth ; areas of states, like North Carolina, that maintain an extensive statewide network of ; roads and highways. As a result, many states are looking to encourage public private ; partnerships and to obtain developer contributions toward needed transportation ; improvements. This trend, however, has raised a variety of equity concerns. A major ; concern is how to achieve equity of contributions among private developers and how to ; assure that the public continues to pay its fair share toward transportation improvement ; needs. ; To address these issues, the North Carolina Department of Transportation (NCDOT) ; retained the Center for Urban Transportation Research (CUTR) to assist the ; Department with exploring alternative funding strategies for improving transportation ; facilities. The study considered a variety of possibilities, including certain public ; private partnerships, alternative financing strategies, and regulatory methods. Specific ; topics examined were transportation corporations, transportation improvement districts, ; tax increment financing, impact fees, transportation concurrency and state programs for ; achieving fair share mitigation of transportation impacts. This report presents findings ; of this exploratory research effort.
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• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/16224/dot_16224_DS1.pdf
• File Type:
  [PDF - 1.35 MB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:30aa317535049f78585d9f13b486ac1a08c05ea41d43b54c2072da7f75443433