Published in Last Word
President Obama announced last week the Build America Investment Initiative to help state and local governments and the private sector expand the use of public-private partnerships (P3s).
A central part of the initiative is the Build America Transportation Investment Center at the Department of Transportation that offers technical assistance for public officials, private developers and investors participation in public-private infrastructure projects.
The center provides support and advice for navigating U.S. DOT credit programs, including TIFIA, Private Activity Bonds (PABs), and the Railroad Rehabilitation and Improvement Financing Program (RRIF). It also promotes the expansion of P3 authority and utilization through outreach and state engagement.
U.S. DOT will also be coordinating with the Treasury Department to expand P3s in other markets, including municipal water, ports, harbors, broadband, and the electrical grid.
ACEC supports using P3s to supplement—but not supplant—traditional funding mechanisms. The Council advocates the expansion of TIFIA and PABs because unlocking private capital can help advance projects that may not be undertaken with traditional funding due to their size, complexity and cost.
#Transportation