BACKGROUND

Multimodal transportation infrastructure and services are built, owned, maintained, and operated by multiple levels of government and the private sector with a complex mix of interdependent funding and financing sources. This paradigm presents challenges for project development, operations, and service delivery. Navigating this complexity requires creative strategies to leverage all eligible resources available.

In the face of this complexity, transportation agencies at all levels need assistance to understand the increasingly interdependent funding and financing options available to them. Challenges presented by the current funding and financing structure include:

• Less certain revenue streams from federal and state formula grants as use of discretionary and competitive grants increase;
  
• Changing relationships and expectations among levels of governments;
  
• Tension among competing policies and priorities at different levels of government;
  
• User-fee revenue not keeping up with needs;
  
• Evolving stakeholder values and goals for the transportation system; and
  
• Emerging technologies (such as connected and automated vehicles) that may require smart infrastructure.

OBJECTIVES

The objectives of this research are to:

1. Detail the funding and financing from local, regional, private, state, and federal sources for transportation, how they are used, and their interdependence;
   
2. Identify the challenges, constraints, or conflicts transportation agencies experience with interdependent funding and financing sources for current and future needs;
   
3. Document current practices and strategies used by local, regional, state, and private transportation agencies to navigate these funding and financing sources; and
   
4. Identify alternative approaches that local, regional, state, and private transportation agencies are considering to address these challenges and constraints.

STATUS: Research in progress.