Presentation on theme: "By Barry B. LePatner International Economic Forum of the Americas Toronto Forum for Global Cities November 22, 2010."— Presentation transcript:
by Barry B. LePatner International Economic Forum of the Americas Toronto Forum for Global Cities November 22, 2010
7,980 bridges, an average of 160 per state, are in danger of collapse due to the failure of even one critical structural member. Over 600 bridges have failed over the last 20 years. Of the more than 600,000 bridges in the U.S., nearly one in four are either "structurally deficient" or "functionally obsolete."
We face a shortfall of funding for infrastructure maintenance of $134 billion to $194 billion per year from now thru We will need to acknowledge the need for an infusion of new funding via: Raising the federal gas tax A new National Infrastructure Bank Expanded use of Public\Private\Partnerships
“We cannot keep pouring money into a fundamentally broken system…it’s not about finding the cash and building more new projects. It’s really about changing the way we do business. We need more transparency in the system. We need more accountability.” Robert Puentes, Senior Fellow, Metropolitan Policy Program, Brookings Institution
New $10 Billion ARC Tunnel in New Jersey – Cancelled by Gov. Chris Christie New passenger rail project and new street car project for Ohio – Cancelled by Gov.-elect John Kasich New rail project for Wisconsin – Cancelled by Gov.-elect Scott Walker
Construction cost overruns for megaprojects can and must be curtailed by: Reforming the construction industry’s inefficiencies Structuring all contracts as true complete-price contracts Inserting monitors to oversee all spending to protect the taxpaying public and ensure transparency
The history of the U.S. has been shaped by major infrastructure projects.
Restoring our aging infrastructure must be seen as an imperative, not a choice.
Prioritizing our Infrastructure Needs: Addressing our Fragile Fracture Critical Bridges. Funding ongoing Maintenance for all Structurally Deficient Bridges. Introducing Needed Light Rail and Congestion- Busting Transit. Funding our Infrastructure with Dedicated Maintenance.
Our infrastructure should no longer be viewed as