Rebuilding America: Partnership for Investment

Federal Highway Administration1994PDFTech ReportUnited States. Federal Highway AdministrationUnited States. Federal Highway AdministrationUnited StatesReportsPartnershipsInvestmentsInfrastructureFHWA-PL-95-023The report summarizes the efforts and progress made to date by the Department of Transportation (DOT) and focuses specifically on the Federal Highway Administration's (FHWA's) implementation of important financing initiatives in President Clinton's Executive Order 12893 of January 26, 1994. The purpose of Executive Order is to enhance existing programs and to develop more effective investment in infrastructure. FHWA established the Innovative Financing-Test and Evaluation Project (TE-045), referred to her as the Innovative Financing Initiative, in order to identify existing transportation financing barriers and to advance innovative financing mechanisms that would increase highway investment. The initiative asks State and local governments to identify specific projects which could be advanced through new ways of financing. This document is organized as follows: Section 1 gives an overview of the Innovative Financing Initiative. Section 2 discusses in detail the emerging financial strategies, covering traditional approaches, the increased flexibility provided by the Intermodal Surface Transportation Efficiency Act (ISTEA), and the new horizons for innovative financing in the coming years. It also provides examples of the ways in which various States propose to apply new financial strategies for leveraging Federal and State funds and increasing infrastructure investment.104