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(soft tense music)

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- [Narrator] Traditional ways,

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we fund infrastructure
projects like the state

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and federal gas taxes are not
keeping up with rising costs

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and increased populations,

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not to mention better fuel efficiencies

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and the advent of electric vehicles.

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That's why an interactive
tool was developed by a team

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from the University of Texas's

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Center For Transportation Research.

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- The objectives of the
project were really twofold.

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First, we wanted to assess

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what sorts of innovative
financing mechanisms

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are used by other DOTs
within the United States

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and other places in the world.

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The other is to be able
to compile together

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all these different innovative
financing mechanisms

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and be able to assess them
against the characteristics

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of different projects and then recommend

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what's the most appropriate
funding and financing mechanism

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for this particular type of project.

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- So say, they need a new bridge.

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What type of revenue source
should they seek out for that?

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And how they do that

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is by entering different
characteristics of the project

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in order to determine which
financing mechanisms match best.

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- Along with these different funding

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and financing mechanisms

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are descriptions of what each of them are

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and references on where one
can go for more information,

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plus there's information on
pros and cons of using them,

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like where they can be used,
where they cannot be used.

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- There's projections and
then there's appropriateness.

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So the appropriateness says,

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how appropriate a certain
mechanism would be

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for a type of project.

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And then the projections tell you,

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if we increase these mechanisms,

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how much more revenue will
TxDOT get in the next 30 years?

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- A future work that we would love to do

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is to be able to pair
the appropriateness part

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with the projections.

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I think if we're able to do that,

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then we have a tool that can
really be used comprehensively

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both in the planning stages,

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but also for the time that
funding is allocated to projects.

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- It is really beneficial
for anyone in TxDOT

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who's looking to understand
financing mechanisms better

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for specific projects,

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as well as what different
financing mechanisms

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can bring forth to the table

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as to how much more revenue they can get.

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- This tool, this mechanism
and research project

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helps TxDOT to be able to
communicate to the legislature,

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the options that we have for funding

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and how we can fund
projects on the long-term.

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- One of the most immediate
objectives of this tool

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is to be able to use it
as an education tool,

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to tell policy makers
what kinds of funding

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and financing mechanisms are available

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and to tell them, "Hey, given
a particular future scenario,

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this could be possible."

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- [Narrator] For more information,

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and to find the publications
for this project,

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please visit the TxDOT Research Library

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at the link shown below.