A report recently released by USC's Keston Institute for Infrastructure describes how the proceeds from state-issued General Obligation bonds for transportation and infrastructure could be leveraged to provide seven to eight times their face amount.
The report, entitled "Funding California's Future: Options for Leveraging the Proceeds of SB 1024" was prepared at the request of Don Perata, President Pro Tem of the California Senate, and evaluates options specifically for leveraging the proceeds of the infrastructure bonds proposed in SB 1024 (Perata). However, the methods proposed in the report will be applicable regardless of the final form of an infrastructure bond bill likely to be passed this legislative session.
The report also includes 19 Action Items that the Institute believes would complement any increased availability of public funds and offers new ways of thinking about what infrastructure projects are undertaken, how we do them, and how they're paid for. It notes that California must forge a new investment paradigm to overcome years of neglect of its vital public systems. To this end, increasing reliance on user fees, long-term operating concessions to the private sector, and locally-generated funding is anticipated. Private capital will also play a significant role if questions surrounding public-private partnerships can be resolved equitably.
Thanks to Richard G. Little
FULL STORY: Funding California’s Future: Options for Leveraging the Proceeds of SB 1024 [PDF, 480 KB]
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