With D.C.’s thriving economy and impressive urban transformation, more and more new residents – especially singles, young couples, and baby boomers – are flocking to the city. Long-term investments to renew and expand economic and social infrastructure will play a critical role in the District’s economic future and livability. The District needs to think about how to promote increased investment to meet the District’s infrastructure needs by deploying new strategies and leveraging untapped resources.
The American Society of Civil Engineers 2013 Report Card estimates that an investment of $3.6 trillion is needed by 2020 to bring the nation’s infrastructure up to a good condition. The Metropolitan Washington Council of Governments expects, in its 2015 State of the Region report, that there will be an approximately $58 billion funding gap for the region’s infrastructure in next 15 years.
The mission of the FC2’s Infrastructure Investment Initiative is developing and implementing P3s in the District and region. The efforts have focused on four related tracks:
- Secure the passage of P3 authorizing legislation,
- Educate local policymakers and agency leaderships,
- Identify pilot projects, and
- Establish an infrastructure financing entity.
FC2 members providing direction for this Initiative include Willy Walker, Chairman, President and CEO of Walker & Dunlop, Pauline Schneider, Partner at Ballard Spahr, and Michael Harreld, Regional President of PNB Bank for the Greater Washington Area.
Through a dedicated seat on the Union Station Redevelopment Corporation (USRC) Board, the FC2 has a unique responsibility to be a steward for local interests in the station and its environs. [Read More]
The FC2 is working with government agencies and industry experts to produce a series of white papers exploring various issues surrounding public-private partnerships. Here is a list of research projects that have been completed and in progress.
- Lessons for Designing and Efficient Independent authority in the District of Columbia: National Capital Revitalization Corporation & Anacostia Waterfront Corporation Case Study;
- On the Path to P3: How to Mitigate and Manage Contracting Risks for Successful Delivery (Project Partner: HNTB); [Read More]
- Union Station 2nd Century Project Regional Economic Impact Study (Project Partners: George Washington University’s Center for Real Estate and Urban Analysis, University of Maryland College Park’s National Center for Smart Growth, and George Mason University’s Center for Regional Analysis) This project is proposed.