VALUE CAPTURE AND PRIVATE INVESTMENT IN HIGHWAY PROJECTS. FINAL REPORT

In recent years, many US state and local governments have found themselves unable to finance the necessary improvements to highway systems under their jurisdictions, so that they have sought alternative sources of funding for road improvements. Particular attention has been concentrated on the possibility of shifting some of the costs of highway improvements to non-users of roads, such as landowners, developers, and businesses, who would nevertheless benefit financially from them. This report presents a summary of research aiming to recommend strategies and mechanisms by which such private/public partnerships can be used more frequently, effectively, and efficiently in highway improvement projects in Pennsylvania. Section 1 briefly surveys the background to the problem, including some relevant theoretical questions. Section 2 summarises the principal findings of the case studies that were conducted. Section 3 briefly analyses some of the problems arising in public/private partnerships. Section 4 presents some recommendations, based on a review of the public literature on this topic and on the case studies. The recommendations concern (1) the appropriate role for the Pennsylvania Department of Transportation in public/private partnerships; (2) informing district engineers about the possibilities for public/private financing; (3) funding priorities and regional differences; (4) cooperation with other state agencies; (5) appropriate finding mechanisms for use by state and local governments in Pennsylvania.

• Corporate Authors:

  INSTITUTE

  University Park, PA  United States 
• Authors:
  • Thomchick, E A
  • Rallis, D N
  • Pasborg, K A
• Publication Date: 1985-12

Language

• English

Media Info

• Pagination: 47 p.
• Serial:
  • PTI REPORT
  • Issue Number: 8524
  • Publisher: INSTITUTE

Subject/Index Terms

• TRT Terms: Federal government; Financing; Highways; Investments; Local government agencies; Private enterprise
• Geographic Terms: United States
• ITRD Terms: 244: Financing; 183: Government (national); 2755: Highway; 227: Investment; 192: Local authority; 9118: Private; 8122: USA
• Subject Areas: Finance; Highways;

Filing Info

• Accession Number: 00487717
• Record Type: Publication
• Source Agency: Transport and Road Research Laboratory (TRRL)
• Files: ITRD, TRIS
• Created Date: Sep 30 1989 12:00AM