About the TFAC Charge
The mission of the Commissioner’s Transportation Finance Advisory Committee was to develop a set of recommendations for future funding and financing of Minnesota’s transportation system.
This will be done through the guidance and advice of the Committee and will consider long-term capital and operating needs, revenues and funds expected to be available, and the estimate to which a funding gap is expected in relation to the desired future.
The Committee also considered ways that Minnesota can better invest in high-quality, multi-modal transportation infrastructure. It drew upon financial expertise from the public and private sector to develop ideas to finance transportation improvements in cost-effective ways.
Three future funding scenarios were considered:
- Status quo
- Urgent needs met
- World class system
The Committee made recommendations on measures to close the funding gap through cost savings, efficiencies, public-private partnerships and revenue generation base on the desired future. This project will include the development of a strategic marketing plan to obtain public support for an investment plan and any additional steps needed to obtain the funding/finance necessary to achieve project goals.