Infrastructure Public Finance 101
You’ll learn about:
- Financial avenues available to cities to pay for critical projects.
- Which public finance instruments are helping cities become more sustainable
- How decisions made in the phases of project planning can impact the avenues and options available projects financing.
- The important strategic linkages between planning and finance, underscoring why it is important for planners to understand basic public finance concepts.
- How public finance is being leveraged to support capital project administration.
To keep pace with the projected growth of urbanization, cities in both the developed and developing world need to invest $3.3 trillion in economic infrastructure annually through 2030, based on a recent McKinsey report. Without a thorough understanding of the full range of public finance instruments used to fund infrastructure, officials and professionals may also lack a true understanding of how planning and financial decisions impact the costs of capital over time. Greater coordination and understanding between the planning and finance arms of local government leads to more fiscally sustainable land use decisions. Gain a “view of the battlefield.” Examine the tools for planning and paying for projects, laying a foundation, building capacities, and establishing a base of knowledge.
Obtain an overview of the scope and magnitude of infrastructure challenges facing cities. Panelists, representing expertise from various disciplines of public finance, will engage in a moderated discussion that elicits an overview of various financing vehicles used by municipalities to pay for capital projects, including: municipal securities; public private partnerships; and other public finance instruments. Next, panelists discuss the challenges municipalities face when leveraging public finance instruments. Topics include, but are not limited to: creditworthiness; presenting “bankable” projects to investors; managing project and deal-based risks to ensure the success over time; and others. See examples of actual projects illustrating these principles. Emerge with a foundation of public finance “basics”, and understand the proper context of the myriad of financing instruments that are available. View the strategic points of intersection between the planning and the public finance function. An introductory session.
, Lincoln Institute of Land Policy
Confirmed SpeakerLourdes German is Director of International & Institute-Wide Initiatives at the Lincoln Institute of Land Policy where she advances the Institute’s global municipal fiscal health campaign and its work as a co-lead organization for the municipal finance policy unit of the United Nations Habitat III effort. An expert in municipal finance, Lourdes began her career as a public finance attorney representing government entities. Following that work, Lourdes co-created the national municipal finance business division at Fidelity Investments, as Vice President of Municipal Finance, and opened and managed Fidelity’s first New York office for public finance. Following Fidelity, Lourdes’ professional experiences included serving as General Counsel and Vice President of a national municipal investment management company; creating and teaching a graduate government finance course at Northeastern University and advising non-profits focused on urban economic growth. Lourdes is also the founder and director of the Civic Innovation Project, an online thought leadership platform that was awarded the 2015 State of Boston Innovation Award for its impact using technology to advance city-to-city learning with respect to the most challenging issues facing governments. Outside of work, Lourdes serves as Governor Baker’s appointed Chair of the Massachusetts State Finance and Governance Board, is an appointee of the Mayor of Boston to the committee focused on the City’s audit and finance
, FirstSouthwest/Hilltop Securities
Confirmed SpeakerSusan serves as lead financial advisor to the City of Boston, Massachusetts, Massachusetts Development Finance Agency, the Massachusetts School Building Authority and the University of Massachusetts Building Authority. She has participated in over $3 billion in financings since joining FirstSouthwest in 2012. Most recently, Susan served as financial advisor to the City of Cambridge, Massachusetts for its successful $2 million minibond offering, which offered bonds directly to Cambridge residents.
, New York
Confirmed SpeakerGerrard P. Bushell, Ph.D., was appointed President & CEO of DASNY (Dormitory Authority) by New York State Governor Andrew Cuomo to lead one of the nation’s largest issuers of tax exempt bonds and builders of public infrastructure. He is responsible for executing Governor Cuomo’s aggressive agenda to finance and rebuild infrastructure for state and local governments, universities, hospitals, libraries and not for profit institutions that anchor communities and make New York competitive. Under Dr. Bushell’s leadership, DASNY has been cited as one of the nation’s top issuers of municipal bonds in each of the past two years. Building value added partnerships is central to Dr. Bushell’s core commitment to delivering high quality services to DASNY’s public and private clients across New York State. DASNY is one of the largest purchasers of professional services in banking, legal services, and construction management. Dr. Bushell has made it an institutional priority to put clients first. He has overhauled DASNY’s financing guidelines and policy to speed clients to the market, and provide them with greater certainty and flexibility. The achievement is growing DASNY’s $48.7 billion bond portfolio, and its investment portfolio of $4.5 billion. A similar effort by Dr. Bushell to broaden DASNY’s capacity to to fulfill its construction clients needs is underway. He is building upon DASNY’s almost $6 billion project pipeline by sourcing alternative delivery methods such as public-private partnerships and design-build. With an operational budget of more than $100 million, and a team of 500 construction and public finance professionals, Dr. Bushell has restructured DASNY’s businesses into a simpler and more efficient allocator of capital and construction services. Dr. Bushell comes to DASNY as an accomplished investment advisor in money management who has counseled some of the nation’s leading institutional investors on their private and public investment strategies. He was a Senior Relationship Advisor in BNY Mellon's alternative investment management businesses. Prior to joining BNY Mellon, Gerrard held a number of Senior Advisory roles; they include: Director in the Client and Partner Group at Kohlberg Kravis Roberts & Co. (KKR), Managing Director in Business Development at Arden Asset Management, and the Head of Institutional Sales at the Legg Mason affiliate, ClearBridge Advisors. Before his work in the private sector, Dr. Bushell also served as a Senior Executive in New York State Government. He was a key advisor to the former New York State Comptroller H. Carl McCall, a sole trustee of the New York State Common Retirement Fund, and a leading institutional investor. At New York State, he worked on investment strategies, debt issuance, local government financings, and government relations. A graduate of Columbia University in both the College and Graduate School of Arts & Sciences, Dr. Bushell received a B.A., M.A. and Ph.D. in Political Sciences.