Innovative project delivery using alternative financing mechanisms : assessment of benefits, costs, and risks.

Details

• Creators:
  Ashuri, Baabak ; Mostaan, Kia
• Corporate Creators:
  Georgia Institute of Technology
• Corporate Contributors:
  United States. Federal Highway Administration
• Subject/TRT Terms:
  • Project delivery
  • Financing
  • State departments of transportation
  • Public private partnerships
  • Risk assessment
  • Benefit cost analysis
  • Construction projects
• Publication/ Report Number:
  FHWA-GA-15-1301
• Resource Type:
  Tech Report
• Geographical Coverage:
  Georgia
• Corporate Publisher:
  Georgia. Department of Transportation. Office of Research
• Abstract:
  The U.S. Department of Transportation (U.S. DOT) and state DOTs across the nation seek private ; investments to leverage their shrinking financial resources and fulfill their growing funding shortfalls. ; Involvement of the private sector in financing highway projects is subject to various limitations and ; challenges that affect state DOTs’ project planning and development, and limit the expansion of private ; financing for highway projects. Private sector involvement in highway financing across the U.S. is subject to ; various limitations. State DOTs face different kinds of financial, political, legal, management, and ; organizational issues affecting their ability to attract private investments in highway projects. The main ; purpose of this project is to enhance the understanding of GDOT regarding the complexity of incorporating ; financing into the innovative project delivery process. Particularly, the objective of this study is to capture ; the underpinnings of private financing in highway projects in the following areas: (1) The latest developments ; and trends in utilizing innovative financing mechanisms for highway projects; (2) main objectives and major ; concerns of state DOTs in the decision-making processes; (3) deal-breaker issues and major concerns of ; private sector participants; and (4) recommended best practices to enhance adoption of private financing for ; highway projects. A comprehensive review of academic and professional literature was conducted in order ; to analyze and document the latest developments and trends in utilizing private financing for highway ; projects. In order to document the current state of private financing for highway projects a survey was ; conducted from state DOTs. Following the nationwide survey of state DOTs’ practices for incorporating ; private financing in highway projects, this study identified a list of deal-breaker issues and major challenges ; that hinder private sector involvement in financing highway projects through conducting interviews with the ; industry experts in private financing.
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• Format:
  PDF
• Funding:
  12665
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/28652/dot_28652_DS1.pdf
• File Type:
  [PDF - 2.72 MB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:e3c457af5dd0f244508ff04b797e5c8b3ff99418f2bcf09b73db712c652f36ed