EXCERPT FROM THE JSFB. SUBSCRIBERS CAN READ THE FULL ARTICLE IN THE APRIL 2014 EDITION.
On January 2nd, the West Coast Infrastructure Exchange (WCX) released the final version of “Infrastructure Project Certification –Principles and Framework” which was developed by the WCX Business Standards Committee. The principles and project standards are the first-ever attempt by multiple US states to jointly define the types of public infrastructure projects that would be most suitable for engaging private capital and to lay out a framework for how best to structure such investments to maximize public benefits while addressing the needs of investors. Based on experience in other jurisdictions with extensive experience with private investment in public infrastructure, the standards highlight the importance of such factors as transparency, high quality analysis, political support, competitive bidding, community labor standards, appropriate risk allocation, and efficient processes.