InvestingPress Releases Torres Introduces Bill to Fill Infrastructure Funding Gap - By California RealEstateRama - May 21, 2015 Visual Text WASHINGTON, DC – May 21, 2015 – (RealEstateRama) — Today, Rep. Norma J. Torres (D-Pomona) introduced legislation designed to attract private sector financing to public infrastructure projects. The Regional Infrastructure Accelerator Act (RIAA) will connect finance and infrastructure professionals with local and state governments to provide them with the technical expertise and pre-development capital needed to attract private investment.<span id="more-3426"></span></p> <p>“Yesterday’s passage of another short-term extension of the Highway Trust Fund made clear that our communities cannot rely on government alone to fund the nation’s roads, bridges, and water facilities,” said <strong>Torres</strong>. “As our nation’s infrastructure funding needs continue to grow, this bill will provide local communities the technical assistance they need to develop their projects so that private funding can come in and help fill the gap.”</p> <p>According to the American Society of Civil Engineers, the United States needs to invest $3.6 trillion over the next five years alone to adequately fund the country’s infrastructure needs. Though infrastructure projects can serve as solid investment opportunities, thus far, private capital has shied away from public infrastructure projects, because many lack access to private investors as well as the pre-development planning needed to attract private financing.</p> <p>RIAA would help attract outside financing through the creation and funding of Regional Infrastructure Accelerators. Through these multi-state organizations, local and state governments would receive the technical assistance and funding needed to undertake feasibility analyses, preliminary design, and other necessary studies required to get a project off the ground. Accelerators would also provide a vehicle to match projects with interested investors and for developing best practices and regional strategic planning.</p> <p>“This bill is a smart public policy,” stated <strong>Jonathan Trutt, Interim Executive Director of the West Coast Infrastructure Exchange</strong>, a regional organization created by the Governors and Treasurers of the west coast states and the Premier of British Columbia to spur innovation through the use of public-private partnerships and to accelerate a pipeline of infrastructure projects in California, Oregon, and Washington. “It will foster the regional expertise necessary to tackle our infrastructure needs, create living-wage jobs, ensure our economic competitiveness, and preserve our quality of life. It is a wise investment in our future that will benefit California and the whole country.”</p> <p>“Public-private partnerships are an important tool for local and state governments to get the financing we need to pay for vital infrastructure projects,” said <strong>City of Rialto Councilman</strong> <strong>Ed Scott </strong>who was Mayor Pro Tem when the city entered into a ground-breaking arrangement with Ullico and Table Rock Capital to fund Rialto Water Services, LLC. “RIAA will give communities like Rialto greater access to new funding opportunities and will save taxpayer dollars by helping localities with the expensive pre-development planning that we need to attract investment but that is often too costly for smaller localities to undertake.”</p> <p>The text of the bill can be found <a id="Regional Infrastructure Accelerator Act" name="Regional Infrastructure Accelerator Act" href="https://torres.house.gov/sites/torres.house.gov/files/documents/Regional%20Infrastructure%20Accelerator%20Act%20-%205-20-15.pdf" target="_blank"></a>here.<br />+</p> <!-- A generated by theme --> <script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script><div class="td-g-rec td-g-rec-id-content_bottom"> <script type="text/javascript"> var td_screen_width = document.body.clientWidth; 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Grace F. Napolitano (D-El Monte), issued the following statement after the Trump administration announced a new proposal—claiming it to be pro-industry—which would weaken federal clean water rules, putting at risk the health and safety of millions of Americans </div> </div> </div> <!-- ./td-block-span12 --> <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/flood-protection-and-water-storage-ID09937.html" rel="bookmark" title="Flood Protection and Water Storage">Flood Protection and Water Storage</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-07-04T03:31:39+00:00" >July 4, 2019</time></div> </div> </div> </div> </div> <!-- ./td-block-span12 --> <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/senators-include-legal-protections-for-military-families-in-privatized-housing-in-defense-bill-ID09930.html" rel="bookmark" title="Senators: Include Legal Protections for Military Families in Privatized Housing in Defense Bill">Senators: Include Legal Protections for Military Families in Privatized Housing in...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:24:14+00:00" >April 1, 2019</time></div> </div> </div> </div> </div> <!-- ./td-block-span12 --> <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/mccarthy-introduces-legislation-to-repurpose-high-speed-rail-funding-to-water-infrastructure-projects-ID09929.html" rel="bookmark" title="McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure Projects">McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/congressman-kevin-mccarthy">Congressman Kevin McCarthy</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:20:36+00:00" >April 1, 2019</time></div> </div> </div> </div> </div> <!-- ./td-block-span12 --></div></div> <!-- ./block 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