A Strategic Approach to Planning and Financing Public Facilitiesby Timothy T. Jackson, Glatting Lopez Kercher Anglin Inc, Orlando, FL, USA,
Keith T. Denton, Glatting Lopez Kercher Anglin Inc, Orlando, FL, USA,
Abstract: This paper presents a comprehensive, strategic approach to planning and financing public facilities by a toll road authority. Because the Authority finances projects through the sale of revenue bonds, this approach is particularly applicable to state governments, local governments, local authorities, and other state agencies. With the emphasis on new federalism, together with continued rapid growth in the Sunbelt, public agencies are called upon more and more to provide needed capital facilities. Such capital infrastructure needs are required not only to keep pace with the pressures of growth, but also to overcome existing deficiencies in public facilities. This dramatic demand for new capital infrastructures has forced public agencies to abandon, in many cases, traditional methods of capital budgeting and financing. The emphasis must clearly be placed upon a long-term strategic approach to allocating scarce tax dollars in order to meet continuing capital needs. The purpose of this paper is to identify typical actions and analyses which should be part of planning and financing public facilities in order to effectively manage the limited revenue resources available within the complex financial market.
Subject Headings: Public buildings | Financing | Assets | Tolls | Highways and roads | Infrastructure | Revenues | State government
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