Dean Palumbo

2015 CA Summit - Notice to Proceed: Clearing a Path for Infrastructure Financing

Dale Bonner, Samara Barend, Teveia Barnes, Marc Levine, Dean Palumbo

A panel of California Assemblymember Mark Levine, I-Bank official Tavia Barnes, and industry leaders from AECOM and Plenary addressed the state's $64 billion infrastructure maintenance gap and the political hurdles hindering effective public-private partnerships. The discussion highlighted the need for legislative reforms to accelerate project timelines, the adoption of innovative financing tools like third-party verification and tax-exempt bonds, and the potential of technology to reduce costs and increase operational efficiency. Speakers emphasized that while local agencies are successfully leveraging private capital for delivery, the state must overcome risk aversion and bureaucratic delays to meet the 2.5% GDP investment benchmark required for adequate infrastructure growth.