Unlocking the Box: Best Practices for Financing Illinois' Infrastructure

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Federal Reserve Bank of Chicago

230 South LaSalle Street

Chicago, IL 60604

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THE CIVIC FEDERATION AND THE FEDERAL RESERVE BANK OF CHICAGO present

Unlocking the Box: Best Practices for Financing Illinois' Infrastructure

Friday, April 5, 2019
8:00 a.m. to 1:30 p.m.

Federal Reserve Bank of Chicago
230 South LaSalle Street, 3rd Floor
Chicago, Illinois


SOLD OUT
To include your name on the waitlist, please call 312-201-9066.


AGENDA

7:30 a.m. to 8:00 a.m. — Registration and Continental Breakfast
Badge Pickup and Security Inspection in the Lobby

8:00 a.m. — Welcome
Leslie McGranahan, Vice President and Director of Regional Research, Federal Reserve Bank of Chicago

8:10 a.m. — If You Build It: A Guide to the Economics of Infrastructure Investment
Diane Whitmore Schanzenbach, Director, Institute for Policy Research at Northwestern University

8:30 a.m. — Q&A

8:45 a.m. — Break

9:00 a.m. to 10:30 a.m. — Panel I: Building an Infrastructure Plan That Meets Critical Needs
llinois has not had a major capital program since 2009. While there is wide agreement that the state faces an urgent need to repair and improve transportation infrastructure, it has not followed best practices in assessing the condition of capital assets and identifying priorities for spending scarce infrastructure resources. What can Illinois learn from other states? How have Illinois’ capital planning shortcomings impacted local governments? How can Illinois leaders be convinced to fund much-needed maintenance projects instead of shiny new ones?

Moderator: Graham Grady, Partner, Taft Stettinius & Hollister LLP
Panelists:

  • Dorval Carter, President, Chicago Transit Authority
  • Nicholas Donohue, Deputy Secretary of Transportation, State of Virginia
  • Tom Kotarac, Vice President of Transportation & Infrastructure, Civic Committee of the Commercial Club of Chicago
  • Michael Pagano, Dean, University of Illinois at Chicago College of Urban Planning and Public Affairs

10:30 a.m. Break

10:45 a.m. to 12:10 p.m. — Panel II: Bang for Your Bridge? How Should (And Shouldn't) Illinois Fund Infrastructure?
Illinois’ infrastructure needs are outpacing its existing revenue structure. However, before it embarks upon a capital spending program, state leaders must identify sufficient, reliable long-term sources of funding. No matter what revenue sources it explores, Illinois faces the additional complication of high borrowing costs, which will reduce revenue available for programming. Speakers will discuss the experience of other states in exploring innovative revenue sources and the particular challenges facing Illinois.

Moderator: Elizabeth Coolidge, Managing Director, Head of the Midwest Region, UBS
Panelists:

  • Rachael Eubanks, Treasurer, State of Michigan
  • Ted Hamer, Managing Director, KPMG LLP
  • Mitchell Holzrichter, Partner, Mayer Brown
  • Carol Spain, Director, S&P Global Ratings

12:15 p.m. — Luncheon

Keynote Omer Osman, Acting Secretary of Transportation, Illinois Department of Transportation

1:30 p.m. — Adjournment
Laurence Msall, President, Civic Federation

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Federal Reserve Bank of Chicago

230 South LaSalle Street

Chicago, IL 60604

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