Report details how to improve nation’s aging roads and bridges, airports, seaports, and wastewater facilities while also generating hundreds of billions for currently unfunded infrastructure projects.
November 14, 2018
A new Reason Foundation study finds asset recycling via long-term leases of America’s largest existing toll roads, bridges, airports, seaports, water and wastewater facilities, and university parking systems could generate $720 billion to $885 billion for state and local governments to spend on new infrastructure projects.
“With constrained public resources at every level of government, it will take novel ideas to address our continued infrastructure investment deficit. Asset recycling can help fix America’s serious infrastructure problems: aging, deteriorating facilities and a lack of funding for a large array of new infrastructure that would improve our quality of life,” said Robert Poole, director of transportation policy at Reason Foundation and author of the new report.
“The basic idea calls for long-term leasing of existing facilities to well-qualified private partners and ‘recycling’ the lease proceeds into new, but currently unfunded infrastructure projects. The company pays most or all of the annual lease payments upfront, and the government uses that money on its unfunded infrastructure needs.
Arguably, no other tool holds as much promise in addressing America’s infrastructure deficit.”.......To Read More....
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