By: Michael Decker
After decades of underinvestment, we face an extreme infrastructure deficit in the United States. In order to bring our infrastructure into the 21st century and support a growing economy, we need to invest more in essential projects including highways, water and sewer systems, bridges, airports and more.
The problem we face is not a lack of capital - it is the ability to identify reliable funding sources to support debt service, to support return on capital and to support maintenance costs. In the coming years, there will be an increasing convergence of the Public-Private Partnership (P3) and Municipal markets to accomplish big infrastructure projects. The key regulatory issue before us today has therefore become the same availability of tax-exemption for P3 projects as traditional tax-exempt municipal investments. Simultaneously, we are exploring how we can make existing investment dollars go further. Innovative approaches like design-build enable us to do just that.....
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