- Briefing Room
The City of Lake Oswego, a suburb of Portland, Oregon, uses innovative finance techniques to supplement its budget for constructing and maintaining transportation infrastructure. In 2003, the Lake Oswego City Council approved a street maintenance fee, which treats the transportation system like a utility in which residents and businesses pay fees based on their use of the system. On average, the fees generated $1.5 to $3 million in revenue annually, allowing the city to maintain the transportation system properly.
Transportation projects require funding, but where does this funding come from? While grants may traditionally be viewed as the primary answer, they are often only a part of the equation. With limited Federal grant-based funding available, transportation agencies and governments at all levels must increasingly think outside the box to explore other options for supplementing their budgets. Innovative finance techniques can help these entities act creatively and make the best use of the resources and financing and funding opportunities available to them.
This section of the Center for Innovative Finance Support website identifies several of the innovative finance techniques and their application within the transportation planning process to help agencies and governments think more strategically about how best to use the funding and resources available to them for implementing transportation projects.
Opportunities for Incorporating Innovative Finance and Funds Leveraging Tools and Techniques throughout the Planning and Programming Process: 2022-2023 Innovative Finance for Planners Roundtable Summary Report
Transportation programs can use innovative financing to start projects more quickly and without delay. The infographic below is an example of how innovative financing could save time and money for your transportation project.
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