2/22/11, Philadelphia, PA
Paul Pezzotta, President of Integrated Transport Planning, Inc. (ITP) outlined his innovative funding strategy for direct AMTRAK rail service to Philadelphia Airport. His plan proposes to utlize a portion of the $2 Billion in newly-available funds from the Obama Administration’s High Speed Rail Program/Initiative (HSR). Pezzotta’s funding strategy employs the federal funding as seed money that will ultimately be recovered from enterprise-integrated, joint, real-estate development at the new rail station envisioned in ITP’s plan. The plan then outline goes on to describe how these recovered investment funds would be used to underwrite the creation of the Philadelphia Infrastrucure Development Bank. In this fashion, Philadelphia can ultimately be self sufficient in funding its own needed infrastructure needs indefinitely into the future.
As outlined in Integrated Transport Planning’s proposal, this new rail link is a preliminary step in the development of what will be the nation’s first demonstrtion of a market finance-able approach to the restructuring of the nation’s production capabilities around higher economic and financial productivity, higher environmental performing, state of the art, infrastructure design based on HSR systems/technology. ITP’s plan accomplishes this by marrying the multi-modal integration of rail, air and highway access with joint real-estate development to create new, market-based value, a portion of which can be used to ultimately recover the costs of the infrastructure.
HSR is ultimately a substitute for short to medium air travel and by taking the steps outlined by ITP, Philadelphia will be the only stop within the NE Corridor to enable HSR to seemlessly suuport integrated air/rail travel since it will be the only stop on the HSR service to directly access air-travel. This will translate into a competitive advantage for Philadelphia within the international travel market