Description
Book SynopsisInfrastructure is the foundation of modern economies. A robust, efficient, and well-maintained infrastructure system is critical to support the nation’s economy, improve quality of life, and strengthen global competitiveness. The serious infrastructure deficit in the U.S. is well-known. State and local governments are struggling to finance the needed expansion, upgrades, and repairs. Meeting the infrastructure financing challenge has emerged as one of the most urgent issues facing the country.
Despite the growing number of innovations in state and local infrastructure financing, current information on innovative infrastructure financing is scattered and time-consuming to find. Until now, there was no detailed, comprehensive assessment of current knowledge and practice in innovative infrastructure financing. This book fills that gap and offers policy suggestions for state and local government managers who are considering the adoption and implementation of innovative infrastructure financing. It provides detailed case studies and rich examples that describe innovative approaches to fund state and local infrastructure development. These experiences and lessons in applying these innovations will be particularly useful for state and local government practitioners, professors, applied policy analysts, and students in public administration, policy, and public finance.
Trade Review“Chen and Bartle’s Innovative Infrastructure Finance provides a foundation for addressing these challenges and maximizing the ‘once in a generation’ funding opportunity for local government managers interested in exploring new ways of implementation and governance, as well as students looking for a primer on infrastructure finance and its practical applications.” (Martin Mayer and Lauren Wargo, Public Works Management & Policy, Vol. 28 (2), April, 2023)
Table of ContentsChapter 1: The Challenges and Opportunities of Financing Infrastructure
1.1 Introduction
1.2 Definition and Scope of Infrastructure
1.3 Public Goods and Benefits-Based Revenues
1.4 Trends in State and Local Infrastructure Financing
1.5 Challenges
1.6 Opportunities
Chapter 2: Capital Planning and Budgeting for Infrastructure
2.1 What is a Capital Improvement Plan?
2.2 Why Have a Capital Plan and Budget?
2.3 How to Develop a Capital Plan and Budget
2.4 The Process of Capital Planning and Budgeting
2.5 Citizen Involvement in Capital Budgeting
2.6 Emerging Challenges in Capital Planning and Budgeting
Chapter 3: Traditional Methods of Financing Infrastructure
3.1 Fundamentals of Infrastructure Finance
3.2 State and Local Infrastructure Financing: Pay-Go versus Pay-Use
3.3 Traditional Infrastructure Financing Methods and Funding Sources
Chapter 4: Innovative Mechanisms of Financing Infrastructure
4.1 The Need for Innovative Infrastructure Finance
4.2 An Overview of Innovative Infrastructure Finance
4.3 New Funding Sources
4.4 New Financing Mechanisms
4.5 New Financial Arrangements
Chapter 5: Case Studies in Innovative Infrastructure Financing
5.1 Value Capture
5.2 State Infrastructure Banks
5.3 Green, Social and Sustainable Bonds
5.4 Public-Private Partnerships
5.5 Privatization
5.6 Crowdfunding
Chapter 6: Conclusion: Putting Innovation into Practice
6.1 Finding
6.2 The Challenge of Innovation
6.3 Conclusion
Index
