Financing Transportation 2040

Transportation Policy Board discussion on May 11

How does the region pay for transportation?

The Transportation 2040 Financial Strategy covers this in detail. It serves as a blueprint for how the region intends to fund current and future transportation investments. It also accounts for existing revenues and re-evaluates long-term new revenue assumptions based on federal and state policy and evolved thinking since 2014.

A special emphasis during this update of Transportation 2040 is identifying revenue generating opportunities for local transportation needs, including resources for city streets, county roads, and local transit.

The update to the financial strategy is being led by a Finance Working Group, which has been reviewing financial assumptions in the adopted plan and key issues framing the 2018 update since November 2016.

The Working Group has focused on how the economy, new approaches to transportation funding, state policy direction, and voter-approved initiatives will shape the updated financial strategy.

The Finance Working Group’s recommendations will be presented to the Transportation Policy Board for approval at the July 2017 meeting.

PSRC staff will provide a status report on this effort to the board on May 11. See the full agenda