regional infrastructure improvement zones (riizs): an innovative
DESCRIPTION
Regional Infrastructure Improvement Zones (RIIZs): An Innovative Infrastructure Financing & Funding Tool. Overview. National Problem RIIZs are… RIIZs are not… 3 Steps to RIIZ RIIZ Qualifications RIIZ Example RIIZ Benefits Legislative Update Questions/Comments. National Problem. - PowerPoint PPT PresentationTRANSCRIPT
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Regional Infrastructure Improvement Zones (RIIZs):
An Innovative
Infrastructure Financing & Funding Tool
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Overview• National Problem• RIIZs are…• RIIZs are not…• 3 Steps to RIIZ• RIIZ Qualifications• RIIZ Example• RIIZ Benefits• Legislative Update• Questions/Comments
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National Problem• THERE IS NO MONEY – Economic Recession and
Financial Constraints and Cuts at all levels of gov’t
• THE NEED IS TREMENDOUS – ASCE estimates it will cost $2.2T over the next five years just to repair current infrastructure
• FEDERAL POLITICS ARE SLOW – Typical legislative and funding vehicles are not moving through Congress
• LOCAL MATCH IS HARD TO MEET – Typical 80% federal, 20% local funding for infrastructure is increasingly difficult
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RIIZs are…• A simple change to federal tax code – tax deduction• A voluntary public-private partnership for investment
in infrastructure – urban & rural• Infrastructure = surface transportation, water,
wastewater, stormwater• A part of an approved plan through COG/MPO, local
governments and community stakeholders• A possible local match contribution• A way to leverage private, federal, state, local dollars• A complement to other infrastructure funding
opportunities and mechanisms
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RIIZs are NOT…• Reliant on lengthy federal authorization/appropriation
processes• A tax credit• An infringement on or contradictory to local or state
statutes• A direct liability of the local governments or their
officials• New mandates or federal requirements• To supplant other funding/financing mechanisms• Limited to any one category of public infrastructure
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3 Steps to RIIZStep 1: Local businesses or individuals petition RC/MPO to form a RIIZ.
Step 2: RC/MPO review RIIZ application, build consensus and establish RIIZ that fits within approved regional plan.
Step 3: State Attorney General approves, and business or individuals contribute tax deductible funds (annual corporate/income tax) to RIIZ infrastructure improvements.
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RIIZ Qualifications• Designated Area: No limitations - entire municipality,
single corridor, intersection or station area.
• Project Scope: No limitations - communitywide improvements or a single road or area.
• Requirements:(1) Public infrastructure(2) In RC/MPO or local gov’t infrastructure plan(s)(3) Consistent with plan decisions
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• A four-way intersection with a bank, a gas station, a department store and an office building at each corner.
• Each could apply to the Regional Planning Organization for RIIZ designation to make tax deductible contributions for such projects as adding a turn lane, a sidewalk or a bus stop
RIIZ Example
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Benefits of RIIZs• Uphold proven regional and local infrastructure
investment decision-making processes. • Drive monies directly to the local level – both rural
and urban.• Local governments and local elected officials
determine if a RIIZ is established.• Offer new options to fund and finance infrastructure
improvements and construction projects that are shelf-ready.
• Be a revenue positive for government.
And many more…
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Legislative Update
• HR 3780 was introduced by Rep. Davis (R-KY, 4) in 112th Congress
• Working with Reps. Schock (R-IL, 18) and Schiff (D-CA, 29) for reintroduction in 113th Congress
• Looking for Congressional Co-sponsors• Building Support• Educating on Infrastructure Needs
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Legislative Targets• Initial focus is House Ways and Means Committee• Secondary focus is House Transportation &
Infrastructure Committee• Welcome all Congressional support and assistance
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RIIZs Supporters
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RIIZs are an immediate way to provide local funding to our public infrastructure, thereby
improving safety, providing jobs and energizing our economy.
Please lend your support!
Questions/Comments?Mark Policinski
Executive Director, [email protected]
513.621.6300
Shannon BaxevanisDeputy Director, [email protected] 202.986.1032, x217