Center for Excellence in Project Finance (CEPF)

Mercator collaborated with the American Association of State Highway and Transportation Officials (AASHTO) and the Wharton School of the University of Pennsylvania in obtaining federal funding through a cooperative agreement with USDOT for the Center for Excellence in Project Finance (CEPF). The CEPF was authorized under SAFETEA-LU to provide support to State Departments of Transportation by offering mid-career training to transportation professionals in project finance methods. It also carries out research and provides technical assistance, drawing upon the expertise of both academicians and practitioners in exploring policy issues and "cutting edge" practices. A recent research project undertaken by Mercator for the CEPF involved providing a series of analyses and briefings to congressional staff on Build America Bonds. The CEPF flagship activity is an annual multi-day program on the Wharton campus led by Penn faculty, Mercator staff and other instructors. Each year since 2008, the Center has offered this intensive 3-day program at which senior federal, state and local officials explore key financial management issues, including:

  • Developing comprehensive plans of finance for major transportation investments.
  • Determining when and under what terms partnerships with private sector entities may be appropriate.
  • Understanding the role of the capital markets as a funding source.
  • Employing non-traditional project finance and development techniques.