The potential impact of innovative transit finance : evidence from Florida

Abstract

Innovative Transit Finance (ITF) is a concept that has become increasingly common in the discussion of transit policy in the U.S. ITF has also received increased attention from transit agencies themselves as they strive to maintain or increase service in the face of local government resistance to providing general revenue support. ITF is defined as revenue sources other than the traditional three: transit fares, general revenue funding of local governments, or intergovernmental transfers from the state or federal government. This article reports on a study that documents the changing nature of transit finance, and examines the state of ITF adoption among agencies in the state of Florida. The study was designed to assess how the ideas behind ITF are actually being put into practice through interviews with stakeholders and examinations of transit system structures. The authors examined the attitudes of stakeholders toward ITF both at the state and local levels, and explore the factors that are affecting the adoption of ITF programs. The authors found that rather than simply adopting a set of one-size-fits-all techniques from a limited menu of options, individual transit agencies have adapted a wide variety of techniques to suit their own unique needs. The authors conclude that, although the attitudes toward ITF are generally positive, actual implementation of ITF has been limited.