Policy Choices

•  Cross-subsidization (system finance) vs. stand-alone project finance; no one best way, but not optimal to follow both at once within a system.

•  Maximizing toll revenue vs. maximizing mobility; again, a policy choice.

•  Local primacy: difficult to define, given overlapping jurisdictions and widespread levels of financial and project development capability.

•  "Market valuation" vs. Public Sector Comparator; the latter is a more accurate and correct way to measure value.