Recent Developments in Innovative Finance

by Ralph C. Erickson, Federal Highway Administration, Washington, United States,

Document Type: Proceeding Paper

Part of: Infrastructure: Planning and Management


A major challenge facing state and local transportation officials is the shortfall in financial resources to respond to increasing needs. It is becoming increasingly difficult for traditional Federal and State taxes cannot meet the growing backlog of highway and bridge repairs as well as demands for system expansion. The government and public resistance to tax increase. A broad set of remedies, under the title of innovative financing, has been put forward as one way to increase the funds available. The paper defines and describes several of these financial mechanisms, including: 1) local option taxes, 2) special district assessments, 3) impact and utility fees, 4) public-private agreements, and 5) toll financing.

Subject Headings: Highway bridges | Fees | Federal government | Bridge management | Load and resistance factor design | Highways and roads | Innovation | Taxation

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