Thursday, February 13, 2014
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AZAGC Begins Discussions on Tax Increment Financing for Transportation Projects
As the legislature negotiates with the governor to eliminate her $120 million HURF transfer this year, statewide transportation revenue shortfalls remain in excess of $40 billion over the next 20 years.  While AZAGC remains vigilant in protecting the HURF and supports Speaker Tobin's, Minority Leader Campbell's and President Biggs' position on a two year moratorium of these transfers, we must continue to look at creative ways to fund infrastructure.  AZAGC is working with a number of stakeholders to look into the viability of using tax increment financing (TIFs) to fund these projects.  While this is a complicated constitutional, statutory and administrative process, the concept is simple.  Since infrastructure has a positive impact on land value, can the increase in property value be leveraged to acquire funding for the needed infrastructure?  This is done in numerous states and Arizona should take a serious look at whether this could be another tool in the toolbox for transportation funding.  We'll keep you abreast on how the discussion transpire.  
Four Finalists Announced for City Manager of Phoenix

After conducting interviews with eight candidates on Monday, Feb. 10, the Mayor and City Council have announced the following individuals as finalists: Milton Dohoney, Jr. from Cincinnati, Ohio; Rick Naimark from Phoenix, Arizona; Deanna Santana from Oakland, California; and Ed Zuercher from Phoenix, Arizona. The final interviews have been scheduled for a City Council executive session on Wednesday, Feb. 19. The item also is expected to be posted for discussion and appointment of the City Manager at the regularly scheduled 3 p.m. Formal City Council meeting on Wednesday, Feb. 19, at the City Council Chambers, 200 W. Jefferson Street. (Source:  City of Phoenix Release)  

Long-Term Transportation Bill Will Require $100 Billion in New Revenue or Fund Transfers 
According to new numbers released this week by the non-partisan Congressional Budget Office, a six-year surface transportation bill would require $100 billion in additional revenue -- such as new taxes or transfers from the Treasury's General Fund -- just to maintain current spending levels. In its latest Highway Trust Fund (HTF) projections, the CBO reports, "the highway and transit accounts of the Highway Trust Fund will have insufficient revenues to meet obligations starting in fiscal year 2015." It is also possible the HTF will run out of funding before the expiration of current surface transportation bill, MAP-21, on Sept. 30. The CBO estimates HTF revenue will be about $17 billion less than current spending levels over the next ten years (FY 2015-2024). This is partially due to the stagnation of HTF revenues. The amount of revenue expected in 2015-$39 billion-is estimated to remain generally flat through 2024.  The CBO's projection of the HTF through 2024 is available here. 
ADOT Bid Tabulations Going Paperless 

Effective immediately, ADOT's Contracts and Specifications office is ending its practice of mailing out paper copies of bid tabulations on an advertisement after a contract was awarded.  Bid tabs can now be viewed and downloaded from the Contracts and Specifications websiteBid tabs will be posted on the C&S website after award by the State Transportation Board and remain available for a period of 60 days after award. 

AZAGC Supported Florence Copper is Good for Arizona's Economy 
According to an 2013 update to Arizona State University's 2012 Economic and Fiscal Benefits Study of the Florence Copper Project, the project will: generate $3.3 BILLION in economic activity in Arizona over operation life; create and support 796 Arizona jobs and more than 25 years of full production; generate $2.1 BILLION in total economic activity in Pinal County alone; provide approximately $68.5 million in local tax revenues to the Town of Florence; and, create hundreds of new head-of-household jobs in the Town of Florence and Pinal County. 
Calling All AZAGC Life Directors 
The AZAGC would like to honor all Life Directors at the Annual Dinner being held at the Arizona Biltmore Resort and Spa on April 11thClick here to view a complete list of AZAGC life directors. If you know the whereabouts of any of these industry leaders, please contact the chapter office at 602-252-3926 or via emailHelp us to honor all the industry leaders that have served as president or chairman of the association since 1934. 
Arizona Chapter AGC | 602-252-3926 | administration@azagc.org | http://www.azagc.org
1825 W. Adams
Phoenix, AZ 85007

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