Nossaman's Geoff Yarema, chair of the Firm's Infrastructure Practice Group and a Commissioner on the Congressionally mandated National Surface Transportation Infrastructure Financing Commission, provided testimony this week to the U.S. House of Representatives Committee on Transportation and Infrastructure, Subcommittee on Highways and Transit, "Hearing on National Infrastructure Bank: More Bureaucracy & More Red Tape."
State and local strategies to bridge the gap between traditional funding and current needs – which has been referred to as alternative finance – are now becoming mainstream.
Consider Los Angeles Mayor Antonio Villaraigosa’s plan to speed up the development of LA’s transit infrastructure, which the LA Times reports would include financing from ‘a combination of private financing and bonds, such as Build America Bonds, established in the economic recovery bill to cut interest costs for local and state infrastructure projects.’
In fact, this model has already been ...
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