Transportation Summit: Increasing Number of Alternative Funding Examples

02/03/2015

The U.S. has completed a number of transportation projects that demonstrate the benefits of alternative funding and financing. This is one of the conclusions discussed at the January 22, 2015 Transportation Summit held in Miami, Florida.

IMG Rebel Senior Vice President for Transportation and Finance, Sasha Page, moderated the Summit’s session on “National Models of Excellence: Public-Private Partnerships, Innovative Financing and Community Engagement.”
 The session included representatives from transit agencies and foundations focused on bus rapid transit and urban quality of life.

Mr. Page spoke about how many U.S. transit agencies are embarking upon extensive expansions, refurbishments, and filling in service gaps, such as developing new intermodal stations. Demographic shifts and the focus on quality of urban life are driving demand for transit and alternative transportation forms.
  "Millenials are driving a lot less, and many X'ers [empty-nesters] are trying the same thing. They also want access to public transit."  Mr. Page was quoted in a Summit tweet (see #GoCITT).

Communities are employing value capture techniques to fund infrastructure, including indirectly funding the Silver Line in northern Virginia through assessment districts. 
In Maryland, public-private partnerships may help realize large projects, such as the Maryland Purple Line light rail.

Bus rapid transit (BRT) examples demonstrate affordable and flexible transportation solutions, as Knight Foundation’s Benjamin De La Pena discussed. 
That is if best practices are followed, including: dedicated right-of-way median alignment especially in congested areas, off-board fare collection, platform-level boarding, and high quality stations.

The Summit was attended by hundreds of Miami-Dade County officials, industry leaders and citizens working towards a comprehensive and coordinated public transit system. More information can be found at here.

For more information, please contact Sasha Page or Varun Hallikeri.