Originally published in the Colorado Real Estate Journal, November 16, 2011 - December 1, 2011.
It is no secret that Colorado’s budget crisis has immobilized transportation funding, as is the case nationally. The state’s vast but unmet and unfunded transportation needs, including safe highway service and efficient rapid transit alternatives, far exceed its limited budget. The Colorado Department of Transportation has identified a long list of roads, highways and bridges that are in need of repair or construction. Yet, due to an acute lack of funds, the schedules for completion of those projects have been extended indefinitely. Traditional means of financing and constructing infrastructure improvements are simply not adequate to meet the demands of today’s transportation needs.
The Boston Consulting Group calculates that, at best, governments will be able to pay only one-half of the bill for necessary infrastructure improvements as a result of mounting public debt and sluggish economic conditions. To fill this gap, many governments, including Colorado’s, have turned to the private sector. Private companies can add both funding and efficiency to transportation projects. In turn, the opportunities for stable, secure investments should be attractive to the private sector.
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