Bridging the Federal/State Gap to Finance in the Public Markets
Members from the municipal bond and civil engineering communities will gather to discuss how municipal bonds can build a better critical infrastructure. High on the list of topics will be the importance of preserving tax exemption to keep the cost more affordable for state and local governments. By leveraging the public’s capital over the useful life of these infrastructure assets the municipal bond community creates a public good.
The National Infrastructure Finance and Construction Summit will provide an opportunity for engineers and the finance industry to come to together and discuss how municipal bonds and up-to-date codes and standards can help build stronger infrastructure systems and create safer investments. Finance, insurance, and municipal bond leaders can engage directly with ASCE members for a series of discussions on how we can better collaborate to improve our infrastructure systems.
Wednesday, November 20, 2024
8:00 am
Conference Registration
Continental Breakfast
8:30 am
Welcome
Marsha Anderson Bomar, President-Elect— American Society of Civil Engineers
9:00 am
How to Finance America’s Infrastructure With Municipal Bonds
Imagine having access to a $4 trillion market to fund America’s Infrastructure. Imagine states, cities, counties and other public entities issuing debt to fund projects such as highways, sewer systems and the power grid. The reality is that approximately $400 billion in new municipal securities are issued each year. This panel of leaders in the public finance markets will discuss the benefits of using municipal bonds in conjunction with federal funds to finance America’s Infrastructure over the useful life of the project.
Ian Rogow, Director, Co-Head Municipal Bond Research — BofA Securities (Moderator)
Andrew Mendelson, Managing Director and Co-Head, Municipal Transportation Finance — RBC Capital Markets
Margaret Backstrom, Managing Director — Morgan Stanley
Christopher Fornal CFA, Director, BlackRock
10:00 am
Coffee Break
10:15 am
The Importance of Bridging the Financial Gap
The latest ASCE economic study looks at the positive impact new infrastructure investment has had on America’s infrastructure funding gap. What does the future without the IIJA look like? What happens when this funding goes away? Panelists will discuss why maintaining funding levels is so important and how innovative new investment in both the public and private sector can spark America’s transformation towards a more sustainable, resilient future.
Darren Olson, Committee Chair — ASCE Committee on America’s Infrastructure
Arlene Bohner, Managing Director, Head of U.S. Public Finance — Fitch Ratings
Oscar Padilla, Director, Lead Analyst States — S&P Global Ratings
11:15 am
What Just Happened?
The elections are over and panelists will discuss what it means for America’s critical infrastructure and municipal finance. On thing is certain: America’s competitive strength depends on building a strong economy to support growth at home and abroad. Panelists will discuss the outcomes of various ballot initiatives and critically, the importance of tax exemption.
Jessica R. Giroux, General Counsel & Head of Fixed Income Policy — American Securities Association (Moderator)
Emily Brock, Director, Federal Liaison Center — GFOA
Tom Kozlik, Head of Public Policy and Municipal Strategy — Hilltop Securities
Caroline Sevier, Managing Director, Government Relations & Infrastructure Initiatives — American Society of Civil Engineers
12:15 pm
Luncheon
Keynote Address: Why Municipal Bonds are the Best Investment in America
Terence Smith, Chief Executive Officer — Smith’s Research & Gradings
Maria Lehman, US Infrastructure Market Leader — GHD
1:15 pm
Flood Mitigation and Revenue Resiliency
Panelists will focus on resilience as an investment enhancement and discuss how resilience-linked bonds/loans can improve lending terms and returns. P3s represent another important opportunity for resilience, enhancing private sector participation to strengthen America’s Infrastructure and achieve broader economic benefits.
Dr. Helen Gall (Moderator), Climate Infrastructure Specialist and Quality Infrastructure Investment Global Knowledge Lead — World Bank
Dr. Sissy Nikolaou, Earthquake Engineering Group Leader, Materials and Structural Systems Division —
National Institute of Standards and Technology (NIST)
Rallis Kourkoulis, Managing Partner — Grid Engineers
Steve Coma, Managing Director, Debt Capital Markets— Hilltop Securities
Dr. Fani Gelagoti, R&D Director — Grid Engineers
2:15 pm
Transportation: Roads to Tomorrow and Smart Cities of the Future
The Bipartisan Infrastructure Law represented a historic investment in America. Projects range from repaving roads and water system upgrades to massive bridge and transit projects. However, municipal bond market did not leverage the Federal investment because it lacked proven revenue streams, such as TIFIA bonds. Was it a lack of political will or the failure of public finance investment banks?
Christopher Fornal, Transportation Analyst, Black Rock Investments
Thomas Zemetis, Director and Analytical Lead U.S. States and Transportation Team — S&P Global Ratings
Brad Guilmino, Director — PFM Financial Advisors
Manoj Patel, Chief Financial Officer — JFK New Terminal One (NTO) LLC
3:00 pm
Coffee Break
3:15 pm
Leveraging Safe Drinking Water and Clean Wastewater Resources
Water is a limited resource. Overdevelopment, aging infrastructure and climate change are all impacting our water systems. Using creative funding options together with innovative technologies, local governments can secure the necessary funds to invest in and maintain vital water infrastructure projects, ultimately benefiting their communities.
Damian Georgino, Partner — Womble Bond Dickinson
Adam Krantz, Chief Executive Officer — National Association of Clean Drinking Water Agencies
Scott Garrigan Director — S&P Global Ratings
4:00 pm
Does America Have the Power for the Electrification of the Nation?
In the U.S., alternatives to fossil-based fuels have grown in popularity, so the economics of renewable energy have dramatically improved. Along with the development of new technologies, a dramatic increase in energy generation is anticipated over the next two decades. Building out energy infrastructure to support the net-zero goals and state-level Renewable Portfolio Standards (RPS) will require increased investment.
Paul Dyson, Director, Lead Analyst Public Power Sector — S&P Global Ratings
Dennis Pidherny, Managing Director — Fitch Ratings
4:45 pm
Cocktail Reception
Thursday, November 21, 2024
7:30 am
Conference Registration
Continental Breakfast
8:15 am
Opening Comments
Terence Smith, CEO — Smith’s Research & Gradings
8:30 am
Building With Resiliency
Our climate is rapidly changing and significant financial and intellectual investment in climate-resilient infrastructure is sorely needed. The ASCE is collaborating with NOAA to accelerate the development of climate smart engineering codes and standards achieve climate-resilient infrastructure. Panelists will discuss how incorporating climate risk reduction in building practices will affect insurance costs, the cost of financing, and will create safer investments.
Bilal M. Ayyub, PhD, PE, Dist.M.ASCE, Hon.M.ASME, Professor and Director — Center for Technology and Systems Management
Department of Civil and Environmental Engineering, University of Maryland
Dan Walker, Ph.D., A.M. ASCE, Center for Technology and Systems Management, Department of Civil and Environmental Engineering
University of Maryland, College Park
Amanda McCarty, Director, Climate-Ready Nation — National Oceanic and Atmospheric Administration (NOAA)
9:15 am
Ports, Inland Waterways and Dams
The Louisiana Purchase was the best real estate deal ever done. America’s inland waterways and dams are the envy of every nation in the world, providing unfettered access from the heartland to markets around the globe. But, drought and aging infrastructure can leave cargo high and dry. The panel will discuss the ongoing investments and what is taking so long to get them approved/built.
Bill Hanson, Senior Vice President of Market Development —Great Lakes Dredge and Dock
Cary Davis, President and CEO — American Association of Port Authorities (AAPA)
10:00 am
Coffee Break
10:15 am
Public Sector Cybersecurity Defense Options & Solutions
Panelists will discuss some of the specific cyber-defense options and solutions that are currently available to the public sector.
Dave Kittredge, Senior Managing Director and Head of Insurance — HilltopSecurities
Hans Holmer, CISO — Smith Information Services, LLC
Omid Rahmani, Associate Director — Fitch Ratings
Terence Smith, CEO — Smith’s Research & Gradings
11:15 am
RoundTable Discussion: Project Lifecycle From “Cradle to Grave”
Panelists will discuss how the development and funding of a project works from design, fund, build, and ongoing maintenance as well as the overarching public policy. Where and when do the various participants come into a project? Are there crossover areas? Are there ways to work better together?
12:00 -12:15 pm
Box Lunch
Load Bus for the special screening of Cities of the Future
12:30 pm
Bus Departs for Steven F. Udvar-Hazy Center
1:15 pm
Cities of the Future
2:00 pm
Conference Adjourns
Bus Returns to Bechtel Conference Center
