Asset Recycling for Social Infrastructure in the United States. (July 2020)

• Record Type: Journal Article
• Authors: Casady, Carter B.; Geddes, R. Richard
• Other Names: Martin Lawrence L. guest-editor.
• Is Part Of: Public works management & policy. Volume 25:Number 3(2020)
• Page Start: 281
• Page End: 297
• Publication Date: 2020-07
• Subjects: asset recycling -- social infrastructure -- infrastructure finance -- case study -- deferred maintenance; Public works -- United States -- Management -- Periodicals; Public works -- Finance -- Law and legislation -- United States -- Periodicals; 363
• DOI: 10.1177/1087724X20911652
• Languages: English
• ISSNs: 1087-724X

Abstract

Asset recycling (AR) has gained attention in the United States as a way of improving life cycle asset maintenance and realizing maximum value from existing public infrastructure. In an AR program, proceeds from leases or sales of mature, underutilized public assets are reinvested in much-needed infrastructure improvements. Although the benefits of AR are often noted in both academic and policy circles, the academic literature on AR has not yet explored AR's application to social infrastructure. To address this gap, we explore the concept of AR and its relevance for U.S. social infrastructure. We first examine the steps and conceptual features of a "fix-it-first" AR approach to social infrastructure. We then use Infrastructure Ontario's Capital Planning Program as a case study to highlight the potential viability of such programs. Finally, we conclude by discussing the benefits and challenges of adopting AR policies in the United States.