How can you find alternative transportation funding?

1 Identify your needs and priorities

Before you look for alternative transportation funding, you need to have a clear understanding of your needs and priorities. What are the objectives and outcomes of your transportation plan? What are the costs and benefits of your projects and programs? How do you measure and communicate your performance and impact? These questions will help you define your scope, scale, and criteria for finding suitable funding sources.

2 Research existing and emerging funding options

Researching existing and emerging funding options is a crucial step in transportation planning. You need to consider both public and private sources that match your needs and priorities. Value capture is one strategy that leverages increased land value or economic activity generated by transportation investments. Tax increment financing, special assessment districts, or development impact fees are some examples of this type of funding. Public-private partnerships involve collaboration between public and private entities to deliver transportation services or infrastructure. Grants and loans are another option, with potential sources including federal, state, or local agencies, foundations, or corporations. These grants and loans can support innovation, sustainability, or equity in transportation planning.

3 Evaluate the pros and cons of each option

When evaluating potential funding options, you must consider their availability, affordability, accountability, and acceptability. Availability refers to the accessibility and reliability of the funding source, as well as the competitiveness or restrictiveness of the application or approval process. Affordability covers the cost of the funding source, interest rates, fees, and risks associated with it. Accountability looks at the transparency and accountability of the funding source, as well as reporting and monitoring requirements. Finally, acceptability examines how attractive the funding source is to stakeholders, how it aligns with your vision and values, and how it impacts users and communities.

4 Engage your stakeholders and partners

Finding alternative transportation funding is not only a technical or financial challenge, but also a political and social one. You need to engage your stakeholders and partners throughout the process, from identifying your needs and priorities, to researching and evaluating your options, to implementing and managing your projects. You need to communicate effectively, solicit feedback, build trust, and foster collaboration. You also need to be flexible, adaptable, and responsive to changing circumstances and opportunities.

5 Learn from best practices and lessons learned

Finding alternative transportation funding is a learning process that requires continuous improvement and innovation. You need to learn from best practices and lessons learned from other transportation planners, both locally and globally. You need to benchmark your performance, identify your strengths and weaknesses, and seek feedback and advice. You also need to share your experiences, challenges, and successes with others, and contribute to the knowledge and practice of transportation planning.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?