CPIP Annual Report 2022

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

1

Bucking the Trend R. Richard Geddes, Ph.D., Founder and Academic Director, Cornell Program in Infrastructure Policy, member of the graduate fields of Systems Engineering, Economics and Regional Science and Visiting Scholar, American Enterprise Institute Despite the global economy emerging from Covid-related lockdowns, the world today is confronting a host of daunting challenges. Domestically, the United States is facing inflation, volatile capital markets, and constricted labor markets. Globally, there is an extended land war in Europe, flooding in developing countries, and ongoing supply-chain problems. Improved infrastructure policy stands squarely at the center of all those challenges.

Cutting-edge research, dynamic teaching, and academic engagement with key infrastructure stakeholders is more important than ever. As the nation’s premier infrastructure policy center, CPIP is poised to have greater real-world impact. We are very grateful for the support, advice, and encouragement of all our supporters! We have many accomplishments to report for the 2021-2022 academic year and look forward to an even more active year ahead.

We Are Only Getting Started Richard J. Coyle, Executive Director, Cornell Program in Infrastructure Policy The coronavirus taught us how to conduct business via Zoom and continue our academic mission while being safe. With case counts now at significantly reduced levels (and access to booster shots!) we can plan a full year of activities. We are only just getting started.

The FY22 academic year ended with CPIP being admitted into the new Jeb E. Brooks School of Public Policy at Cornell. We then kicked off July with an international Workshop for infrastructure leaders in New York City, and are planning new positions, courses, and outreach activities to further educate and foster research about infrastructure delivery.

Our goal is to cement the Cornell Program in Infrastructure Policy as the “go to” academic program for infrastructure academics, regulators and business practitioners. We appreciate the support of our Board, our alumni, and others who have contributed to our success. We look forward to a very fulfilling year!

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

2

Mission The mission of the Cornell Program in Infrastructure Policy is to improve the delivery of civil, social, and digital infrastructure through dedicated, high-quality research, teaching, and public outreach efforts. We focus on the procurement, funding, alternative financing, and technological developments across the infrastructure industry.

We maintain a network of scholars across multiple disciplines both inside and outside of Cornell University who share an interest in public policies impacting infrastructure delivery. We collaborate with partners in the public, private and non-profit sectors to develop and disseminate research, develop new educational courses, share industry best practices, organize webinars, and host conferences about infrastructure policy.

What is Infrastructure Delivery?

Infrastructure delivery refers to the full range of activities necessary to make infrastructure available for use by the public. It includes infrastructure design, construction, operation, maintenance, procurement, funding, financing, and in some cases recycling of existing assets. We embrace infrastructure-related technology, such as sensors, robotics, artificial intelligence, cybersecurity, materials, as well as cloud and data analytics. The types of infrastructure included in CPIP’s rubric include heavy civil infrastructure such as roads, bridges, tunnels, airports, seaports, drinking water systems, wastewater treatment systems, and energy systems, among others. We also focus on social infrastructure, including stand-alone public facilities such as schools, prisons, and courthouses. Lastly, we study digital infrastructure as it relates to broadband technology and public access to the internet.

Comparative Advantages CPIP has several comparative advantages in that most academic programs related to infrastructure do not include a policy component. This year, Cornell University relocated CPIP within the new Jeb E. Brooks of Public Policy. Cornell additionally operates highly regarded colleges in Business Management, Engineering and Art, Architecture and Planning, as well as a leading-edge Urban Tech hub at the Cornell Tech campus in New York City. We are affiliated with key faculty in a variety of disciplines, such as Public Policy, Law, Economics, Civil & Environmental Engineering, Sustainability, and Regional Planning. Our courses attract top-tier students at both the undergraduate and graduate levels from across the university. Access to our distinguished Board of Advisors offers yet another advantage to our program participants.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

3

Organization Our founder and Academic Director is R. Richard Geddes, Ph.D., who is a Professor in the Jeb E. Brooks School of Public Policy at Cornell University, and a Visiting Scholar at the American Enterprise Institute (AEI). He is additionally a member of the graduate fields of Systems Engineering, Economics and Regional Science. One of the most respected and cited scholars in infrastructure policy, his research focuses on policies facilitating investment in the renovation and construction of transportation infrastructure through Public Private Partnerships, Asset Recycling, and Value Capture. He also has conducted wide-ranging research in other fields including electric utility reform, postal service policy, corporate governance, women’s property rights, and antitrust policy.

CPIP has two Associate Directors. Professor Thomas Denis O’Rourke is the Thomas R. Briggs Professor in Engineering Emeritus at Cornell University and Chair of the International Advisory Group, Cambridge University.

Tom recently retired from Cornell after more than 40 years of service. H. Oliver Gao is a Professor of Civil and Environmental Engineering and the Director the Center for Technology, Environment and Community Health at Cornell University.

Richard Coyle serves as our Executive Director. Richard’s role is to promote the visibility and reputation of CPIP through multiple media channels, oversee the financial management of the organization, execute webinars and conferences, and maintain engagement with our Board of Advisors. His efforts are reinforced by Olga Petrova, Program Assistant, who organizes key CPIP events.

Closely aligned with CPIP is John Foote, Lecturer in Science, Technology and Infrastructure Policy in the Cornell Institute for Public Affairs (CIPA). John is a member of the CPIP board and was an early catalyst in the creation of CPIP. John’s focus is infrastructure policy and finance. He also manages the Infrastructure Policy, Management and Finance (IPMF) Fellows program, as well as the Zoom Infrastructure Breakfast series.

Another active contributor to CPIP this year has been Gina Park, who is pursuing her PhD in Reginal Science, under Professor Rick Geddes. Gina is studying the effect of drayage truck replacement programs from diesel to electric in seaports on local air quality.

We were joined in the fall semester by Gabriel Duarte Stumpf de Carvalho, a Ph.D. student at the Instituto Superior Técnico, enrolled in the MIT Portugal program. His focused his studies on contracts, sunshine regulation and risk management/risk sharing in urban bus concessions under Professor Rick Geddes. He has now received his doctorate from that Program.

At the end of the academic year, CPIP brought on Quincy Zhang, a recent Ph.D. graduate from the University of Maryland, as a remote Visiting Scientist. Dr. Zhang has developed a comprehensive database of life-cycle data for U.S. major transportation projects, including cost, funding, performance, and stakeholder data. He will be analyzing the cost performance of P3 projects.

Ph.D. student Gabriel Duarte Stumpf de Carvalho (right) tours the TCAT Operations Center with General Scot Vanderpool (left) in November 2021.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

4

Evaluation of FY 2022 Goals We set aggressive goals for the organization in FY22, without knowing the future impact of the coronavirus.

Indeed, the virus was with us for the entire year, which caused us to cut back on some of our aspirations.

Nevertheless, it was a year full of accomplishments: •

Expand our research capacity via additional Ph.D. or post-doctoral students. We successfully brought on a Ph.D. student and a recent Ph.D. graduate in research positions during the academic year.

•

Revise Faculty Affiliates Program. This remains open and will become a goal for the FY23 academic year.

We had difficulty convening faculty due to the coronavirus.

•

Initiate an infrastructure event in Albany in conjunction with the Empire Infrastructure Council.

The Empire Infrastructure Council has taken a pause as one of the founding leaders was deployed as part of his commitment to the U.S. Navy reserve. We hope to revisit this in FY23.

•

Expand our reach in Washington through one-on-one meetings and seminars with congressional staffs. Only a limited amount of Capitol Hill staffers returned to their offices this year. Regardless, CPIP developed connections with the White House and the Office of the Senior Advisor and Infrastructure Coordinator (i.e. the “Infrastructure Czar”). We additionally established contact with the Cornell in Washington program, and are planning future cooperative efforts with that unit.

•

Move our website out from the College of Human Ecology and into the Office for the Vice Provost for Research. We indeed moved our website out of the College of Human Ecology. However, when it became apparent we would be joining the Brooks School, we forewent the step of moving into the Office for the Vice Provost for Research, and instead migrated our pages directly into the Brooks School

•

Launch a newsletter. We decided not to pursue this until our program matures further.

•

Re-implement the Executive-in-Residence program. This was postponed due to the persistence of Covid. However, several CPIP Board members have expressed interest.

•

Expand the Cornell Infrastructure Leadership Webinar series. Two more webinars were hosted this past academic year.

•

Execute Infrastructure Workshop in New York City in conjunction with the National Science Foundation and the UK Engineering & Physical Sciences Research Council. This was a massive undertaking, which took place in July 2023, which is technically part of FY 23. However, we will include that effort in our FY22 Annual Report as it consumed so many resources during the past academic year.

•

Resume in-person meetings of the CPIP Board of Advisors. We indeed hosted a meeting in May 2022 in New York City as a hybrid meeting. We had 13 in-person and 18 remote participants.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

5

Goals for FY23 CPIP will move forward in FY23 under the assumption that the coronavirus is largely behind us. We will thus catch up on some FY22 open goals and set new ones for the coming academic year. Specifically: Revise Faculty Affiliates Program. We believe that we will be able to convene faculty to facilitate an on-going faculty affiliates program.

Re-implement the Executive-in-Residence program. This program has been on hold since before the pandemic. We will solicit interest from our Board of Advisors to determine who would like to join us in the spring of 2023 as an Executive-in-Residence.

Publish and distribute proceedings from the July Infrastructure Workshop at Cornell Tech.

This process is already underway, and we hope to have a summary and recommendations ready this fall.

Host the IP3SN Workshop on Climate Change and Infrastructure in New York City in June. We have already applied for a grant to help fund this gathering of the International Public Private Partnership Scholars Network (IP3SN).

Hire staff and develop courses to execute on CPIP gifts. As gifts are received that require incremental staffing, new courses, or other resources, execute in accordance with the donor’s requests by taking the appropriate actions.

Explore with senior Brooks School leadership more formal collaboration with the Innovative Infrastructure Initiative. Identify ways to align our program with their goals.

New Academic Home for CPIP Dean Colleen Barry of the Jeb E. Brooks School of Public Policy decided at the end of FY22 to admit CPIP into the school, thus uniting us with the main locus of infrastructure policy teaching and student mentoring activities. Dean Barry envisions Brooks as a school where “…scholars across disciplines (can) tackle the biggest public policy challenges we face as a society, both in the U.S. and globally. Our mission is to make positive change in the world.” CPIP was very pleased to accept her invitation.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

6

Board of Advisors CPIP is fortunate to have a prominent board of more than 40 advisors from across the infrastructure industry, with expertise in infrastructure design, financing, construction, consulting, technology, law, and government relations. The Board guides the program with advice and provides internship and full-time employment opportunities for students. Board members may serve as a CPIP Executive-in-Residence. They can also participate in a ZOOMbased Breakfast Lecture series with students and recent alumni. After six years of service, Mr. Anthony Ferrari, Co-founder and President of Crimson Asset Management, stepped down as Board chair. We welcomed Mr. Steve Beatty, Head of Global Infrastructure for KPMG International as our new Board Chair.

Other members include:

•

ACS Infrastructure Development, Inc.

•

GCM Grosvenor

•

AECOM

•

Globalvia Inversiones SA

•

American Association of State Highway

•

Infinite Consulting

and Transportation Officials (AASHTO)

•

Institutional Real Estate, Inc.

•

American Infrastructure Funds

•

Kouza Capital

•

Antin Infrastructure Partners

•

KPMG

•

Bechtel Enterprises

•

Nexwell

•

BlackRock Alternative Investors

•

Nossaman LLP

•

Brick and Mortar Ventures

•

Nuveen Real Assets Group

•

California State Teachers’ Retirement System

•

Ontario Teachers’ Pension Plan

(CalSTRS)

•

Prudential Capital Group

•

Cornell University

•

QIC Global Infrastructure

•

Crimson Asset Management

•

Sidewalk Infrastructure Partners

•

Cintra, S.A.

•

Starwood Energy

•

Distributed Sun

•

Sumitomo Mitsui Banking Corporation

•

Edward A. Merlis, LLC

•

Vinci Highways

•

Enertech Capital

•

Virginia Department of Transportation

•

Ernst & Young Infrastructure Advisors, LLC

•

Watco Company

•

In4.OS, LLC

•

Young Professionals in Infrastructure

•

Fitch Ratings

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

7

New Board Members CPIP continues to attract top infrastructure thought leaders to our Advisory Board. This year, we welcomed Drew Campbell, Senior Editor, Institutional Investing in Infrastructure; Chris Ireland, Managing Director, Greenfield and Renewables, Infrastructure and Natural Resources at Ontario Teachers’ Pension Plan; Bill Caudle, President, Bechtel Enterprises; Raman Singh, CEO & Chief Architect, IN4.OS LLC; Ricardo Bosch, North America Head of Business and Corporate Development, Cintra S.A.; and Jeff Weiss, Executive Chairman of Distributed Sun. In addition, we welcomed Peggy Smyth, Senior Advisor, Global Infrastructure and Chair, CenTrio for QIC as representing Ross Israel, Head of Global Infrastructure for QIC.

Emeritus Board CPIP announced the creation of the Emeritus Board on March 29. Emeritus Board members will still retain contact with the Program and receive Board Updates but will not be expected to participate in Board meetings or other CPIP activities. Membership in the board will be by invitation only. This year we recognized Olivia Steedman from Ontario Teachers’ Pension Plan and Keith Hennessey from Bechtel Enterprises with emeritus status.

New Board Directory CPIP published for the first time a Board Directory, which was distributed to Board members.

CPIP Board Meeting – May 12, 2022 – New York City CPIP held its first in person Board Meeting since the fall of 2019 at Cornell’s ILR Conference facility in New York City in May. As the meeting was hybrid, we had 13 participants in person and 18 remote participants.

We announced CPIP’s move into the Brooks School of Public Policy at Cornell, our new Board Chair, some gifts in negotiation, and a new joint venture with Hodes Weill for the publication of an Infrastructure Allocations Monitor.

Young Professionals in Infrastructure Young Professionals in Infrastructure (YPI) is an industry-focused, non-profit organization established to provide a forum for networking and professional development. The CPIP Board voted to include the President of Young Professionals in Infrastructure as an ex officio member. As the Presidency is being shared, Judah Gluckman, Principal Consultant at WSP and Mariana Torres, SVP at John Laing, jointly represent the organization. Additionally, CPIP-enrolled student fellows of the Infrastructure Project Management and Finance program as members of the Young Professionals in Infrastructure organization.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

8

Infrastructure Teaching CPIP uses travel grants to support a spring semester infrastructure practicum led by John Foote, Lecturer in Science, Technology and Infrastructure Policy in the Brooks School. This practicum provides students with an opportunity to receive in-depth exposure to serious real-world infrastructure challenges. It is a semester-long course that meets weekly and includes a field visit to Puerto Rico during Spring Break for meetings with public officials, subject matter experts and stakeholders. This past Spring eleven master’s candidates in public administration, planning and engineering took on the challenge of developing policy proposals to provide low and moderate income (LMI) households in Puerto Rico with equitable access to roof-top solar with the objectives of: •

Lowering electricity costs and reducing the energy burden for LMI households

•

Providing reliable and distributed electricity to LMI households

•

Providing financial support for Puerto Rico’s transmission and distribution infrastructure

•

Helping Puerto Rico achieve its intermediate and long-term renewable goals

Students created a policy paper, which will be posted on the Cornell Policy Review website later this fall.

In addition to the Practicum, John Foote taught “Infrastructure Finance” to 30 students.

Rick Geddes taught 36 students in his “Regulation & Infrastructure Policy” course, and an additional 62 students in a course entitled “Corporations, Shareholders & Policy,” where he featured prominent guest lectures from: •

Judah Gluckman, Principal Consultant, U.S. Advisory Services, WSP. Co-president Young Professionals in Infrastructure, CPIP Advisory Board member, (https://www.linkedin.com/in/judah-gluckman/)

•

Anne Valentine Andrews, Managing Director, Global Head of Real Assets within BlackRock Alternative Investors, CPIP Advisory Board member, (https://www.blackrock.com/institutions/en-us/biographies/anne-valentine-andrews)

•

Gabriel Stumpf Duarte de Carvalho, Associate Engineer at VTM Global and PhD student in Civil Engineering, University of Lisbon (MIT in Portugal Program). CPIP Post-Doctoral Researcher fall 2021, (https://www. linkedin.com/in/gabriel-stumpf/?locale=en_US)

•

Peter Nolan, Chairman at Nolan Capital (https://www.linkedin.com/in/peter-nolan-89729814)

•

Elif Korkmaz, former U.S. Equity Sales Associate, J.P. Morgan Cash Equities (https://www.linkedin.com/in/korkmazelif/)

•

Harris Ziskroit, Investor, HRS Management (https://www.linkedin.com/in/harris-ziskroit-1a806153/)

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

9

•

Carol Schumacher, former Vice President, Global Investor Relations at Wal-Mart Stores, Inc., CPIP Public Relations Advisor, (https://www.linkedin.com/in/carolaschumacher/)

Rick additionally taught a new course for the Executive Master of Public Administration (EMPA) program, “Market Regulation”. The course was offered on-line over a 5-week period in the spring.

Carol Schumacher, formerly VP Investor Relations for Wal-Mart Stores, Inc. delivers a lecture on corporate reputations.

Smart Cities Engineering Minor Concentration This spring, Cornell approved a minor concentration within the College of Engineering, focused on Smart Cities.

The coursework recognizes the growing ubiquity of sensors, smart devices, real-time data and advancements in artificial intelligence in the fields of civil and environmental engineering. Rick Geddes’ course “Regulation and Infrastructure Policy” as well as John Foote’s course in “Infrastructure Financing” and “Infrastructure Project Management and Finance Practicum” are now part of this new concentration.

The Cornell Infrastructure Leadership Webinar Series CPIP continued its series of hosting prominent thought leaders on the permitting, regulating, delivery, funding, financing and maintaining of infrastructure.

March 2, 2022: “Overview of the Global Infrastructure Hub (GI Hub)” Marie Lam-Frendo, Chief Executive Officer; Maud de Vautibault, Director of Infrastructure Knowledge and Leading Practices; Cinthya Pastor, Director of Economics November 9, 2021: “Improving the Mexican Caribbean’s Digital Infrastructure” Michael Mahoney, Chief Technology Officer, Gignet, Inc.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

10

Thought Leaders in Infrastructure Video Series CPIP launched a Thought Leaders in Infrastructure Video Series in the spring. We released one video per week for 13 weeks to cover a wide variety of topics involved in infrastructure policy. Reactions were so positive that we have decided to continue the series in the fall of 2022. Titles and links for the videos can be found below: Week of March 7, 2022: Rick Geddes, Founder and Academic Director, Cornell Program in Infrastructure Policy “Rethinking Infrastructure and Lessons from Elsewhere” https://www.linkedin.com/feed/update/urn:li:activity:6906679858978799616/ Week of March 14, 2022: Ray DiPrinzio, Managing Director, Global Sponsor Coverage & Co-Head of Infrastructure Finance, Sumitomo Mitsui Banking Corporation “Defining Infrastructure and Dealing with Challenges” https://vod.video.cornell.edu/media/Ray+DiPrinzioA+Defining+Infrastructure/1_8j8ymj6f/250196253 Week of March 21, 2022: Anne Valentine-Andrews, Managing Director, Global Head of Real Assets, BlackRock Alternative Investors “Investing in Infrastructure” https://vod.video.cornell.edu/media/Anne+Valentine+AndrewsA+Investing+in+Infrastructure/1_be8ickti/250196253 Week of March 28, 2022: John Parkinson, Director, Master of Science in Construction Administration Program, Columbia University, School of Professional Studies “Infrastructure Needs of NYC and the Tri-State Area” https://www.linkedin.com/feed/update/urn:li:activity:6914213884321021952/ Week of April 4, 2022: Rick Geddes, Founder and Academic Director, Cornell Program in Infrastructure Policy “Public & Private Sector Synergies” https://www.linkedin.com/feed/update/urn:li:activity:6916757118440157186/ Week of April 11, 2022: Judah Gluckman, Principal Consultant, U.S. Advisory Services, WSP “Role of P3s in Infrastructure” https://www.linkedin.com/feed/update/urn:li:activity:6919292062332841985/ Week of April 18, 2022: Michael Samuelian, Founding Director of the Cornell Tech Urban Tech Hub “Urban Technology and Infrastructure” https://www.linkedin.com/feed/update/urn:li:activity:6921840537314455552/

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

11

Week of April 25, 2022: Michael Foley, Senior Alternative Project Delivery Consultant, WSP “NEPA and Infrastructure” https://www.linkedin.com/feed/update/urn:li:activity:6924395130661588993/ Week of May 2, 2022: Zach Schmetterer, Associate, Infrastructure Secondaries, Ares Management Corporation “Importance of Operations and Maintenance” https://www.linkedin.com/feed/update/urn:li:activity:6926915646412763138/ Week of May 9, 2022: Scott Zuchorski, Global Group Head of Infrastructure and Project Finance, Fitch Ratings “Assessing Infrastructure Credit Ratings” https://www.linkedin.com/feed/update/urn:li:activity:6929451846524706816/ Week of May 16, 2022: Michael Foley, Senior Alternative Project Delivery Consultant, WSP “Variable Tolling” https://www.linkedin.com/feed/update/urn:li:activity:6932021998294372352/ Week of May 23, 2022: Gabriel Stumpf de Carvalho, Associate Engineer, VTM Global; Ph.D. candidate, MIT in Portugal Program “Pursuing Graduate Studies in Infrastructure Policy at Cornell” https://www.linkedin.com/feed/update/urn:li:activity:6934554106355216384/ Week of May 30, 2022: Rick Geddes, Founder and Academic Director, Cornell Program in Infrastructure Policy “Hyperloop and the Future of Mass Transit” https://www.linkedin.com/feed/update/urn:li:activity:6937444931384864769/

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

12

ZOOM Infrastructure Breakfast Series CPIP, in conjunction with the Cornell Institute of Public Affairs, continued its successful Zoom Infrastructure Breakfast Series featuring informal chats with infrastructure experts. These one-hour meetings were held once a month through the fall and spring semesters and were open to students, recent alumni, faculty and board members. Speakers had the freedom to select the infrastructure-related topic of their choice. Last year we held 16 sessions and covered varied topics such as sustainability, drone inspections, and software to predict cost overruns:

FALL 2021 9/24 Shant Boyajian, Partner- Nossaman LLP 10/1 Sue Lee, Senior Managing Director- Ernst & Young Infrastructure Advisors 10/22 Felix Heon, Sustainability Director- Antin Infrastructure Partners 10/29 Bob Hellman, Managing Director & CEO- American Infrastructure Funds 11/12 Andy Diehl, Managing Director in Private Equity Infrastructure Investment Team-Nuveen 1/19 Anne Valentine Andrews, Managing Director and Global Head of Real AssetsBlackRock Alternative Investors

SPRING 2022 2/4 Denis Crevier, Strategic Advisor- Global Infrastructure Hub 2/18 Duane Gilmore, Real Estate / Infrastructure Executive- Google 2/25 Olivia Steedman, Senior Managing Director/ Teachers’ Innovation Platform-Ontario Teachers’ Pension Plan 3/11 Shauna McIntyre, President, Ouster Automotive 3/18 Toby Redshaw, Chief Executive Officer-Chief Executive Officer 3/15 Ray DiPrinzio, Managing Director and Co-Head of Infrastructure Finance-Sumitomo Mitsui Banking Corp.

4/1 Eve Bernèche, Senior Director-Infrastructure Investments-Caisse de dépôt et placement du Québec (CDPQ) 4/15 Susan Howard, Program Director for Transportation Finance-American Association of State Highway and Transportation Officials (AASHTO) 4/29 Jonathan Ehrlich, Chief Operating Officer of T2D2 5/6 Cody Stavig, OctantAI

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

13

Infrastructure Project Management and Finance Fellows CPIP also works very closely with the Infrastructure Project Management and Finance Fellows program. This program is designed for students who are interested in working in the infrastructure space in a planning, finance, project management, or operations role, and/or who want to gain a deeper understanding of issues related to infrastructure. The IPMF program is open to all Cornell graduate students. Since its inception in 2016, fifty students have participated in the program. During the past academic year, CPIP assembled a resume book and distributed it to our board to facilitate employment opportunities.

Google Scholar Citations Google performs a service to the academic community by maintaining a count of citations for academic researchers. Citations are used to attribute thought or research findings of one academic scholar in another academic’s publications. How often an academic is cited is important because it serves as an indicator of how authoritative the scholar is in his or her field of study. CPIP is pleased to report that according to Google, Rick Geddes was cited 187 times in 2021 by other academics, demonstrating recognition by his peers of his work’s significance.

Innovative Infrastructure Initiative On May 17, 2022, the Innovative Infrastructure Initiative (I³) convened sixty leaders in Washington, DC, to discuss the path forward for delivering transformative infrastructure following the enactment of the Infrastructure Investment and Jobs Act (IIJA). According to their website, (https://www.theithree.com/about) I³ is “a consortium of technologists, investors, policymakers, academics, and other leading thinkers uniting to champion and accelerate transformative infrastructure projects that utilize innovative strategies to meet pressing infrastructure needs.” CPIP was recognized as I³’s academic partner, alongside event co-hosts the American Society of Civil Engineers (ASCE), the National Smart Coalitions Partnership (NSCP), and Sidewalk Infrastructure Partners (SIP).

Other I³ partners include Accelerator for America, Brick and Mortar Ventures, the Global Infrastructure Hub, and X, Alphabet’s Moonshot Factory. I³ and CPIP are exploring opportunities to further strengthen their partnership.

CPIP Executive Director, Richard Coyle (left), CPIP Board of Advisors Member, Brian Barlow (center) and CPIP Academic Director, Rick Geddes (right) confer at the kick-off meeting of the Innovative Infrastructure Initiative in Washington, DC in May.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

14

Seminar: “The Infrastructure Investment & Jobs Act of 2021: Opportunities for New Directions in Infrastructure Policy” CPIP organized a panel of industry experts to discuss the impact of the Infrastructure Investment and Jobs Act at the American Enterprise Institute in Washington, DC on June 16. Adie Tomer, Senior Fellow, Brookings Institution; Jeff Davis, Senior Fellow at the Eno Center for Transportation; Susan Howard, Director of Policy and Government Relations for the American Association for State Highway and Transportation Officials (AASHTO); and Pat Jones, Executive Director & CEO of the International Bridge, Tunnel and Turnpike Association (IBTTA), discussed what the bill is proposed to cover and where shortfalls still exist in a discussion moderated by Rick Geddes.

Speakers from the CPIP Seminar on the Infrastructure Investment and Jobs Act of 2021, from left to right: Adie Tomer (Brookings), Jeff Davis (Eno Center), Pat Jones (IBTTA), Rick Geddes (Cornell), and Susan Howard (AASHTO).

Partnership with Hodes Weill CPIP is developing a partnership with Hodes Weill, a leading, global capital advisory firm currently focused on the real estate and real assets investment and funds management industry but is expanding its reach into infrastructure. The partnership will be based on a pre-existing relationship that Hodes Weill maintains with the Cornell Baker Program in Real Estate, which yields a publication called the Real Estate Allocations Monitor. With CPIP, Hodes Weill will publish an Infrastructure Allocations Monitor, which will be an annual survey of institutional investors in infrastructure. Hodes Weill will be recruiting a student to assist in the gathering and analysis of the data this fall.

CPIP Addresses the United Nations On May 19, Rick Geddes presented an “Introduction to Key Infrastructure Policy Issues” to the United Nations Economic and Social Commission for Western Asia, United Nations Economic and Social Council. He addressed the need for innovation in infrastructure, identified infrastructure as an asset class, and discussed issues involved with funding and financing of infrastructure.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

15

Joint CPIP/Cambridge University Centre for Smart Infrastructure and Construction Workshop CPIP completed the most ambitious undertaking in its ten-year history this past summer. In partnership with the Cambridge University Centre for Smart Infrastructure and Construction, we jointly secured funds from the National Science Foundation and the Engineering and Physical Sciences Research Council to host 56 infrastructure experts from the United States, Europe and Asia for a week-long series of meetings, breakout sessions, presentations, and infrastructure tours in New York City. We were joined by an additional 75-80 people world-wide who watched the sessions remotely. With a focus on “Funding, Financing and New Technology”, we organized sessions on Net Zero carbon emissions, Resiliency, and Equity in infrastructure. CPIP is particularly appreciative of the sponsorship offered by EY, organized by Board Member Sue Lee. Proceedings are now being compiled for subsequent publication.

Rueben McDaniel III, President and Chief Executive Officer of DASNY, explains how equity considerations need to be factored into infrastructure decisions.

Workshop attendees pay close attention to lectures at the Verizon Center on the Cornell Tech campus in New York City.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

16

CPIP Associate Director Tom O’Rourke Recognized with First Annual CPIP Infrastructure Award Professor Emeritus Tom O’Rourke was recognized on July 11 with the First Annual CPIP Infrastructure Award, created to recognize dedicated, consistent efforts over the span of a career to improve the design, construction, operation, maintenance, financing or funding of civil and social infrastructure anywhere in the world. Tom was additionally recognized with a framed illustration of New York City from the late 19th century in recognition of his 43-year career at Cornell.

CPIP Associate Director Tom O’Rourke (right) receives a framed 19th century map of New York City from Lord Robert Mair (left) of Cambridge University in recognition of his 43 years of service to Cornell University.

Former Cornell College of Engineering Dean Lance Collins (far left) has just presented Tom with the First Annual CPIP Infrastructure Award.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

17

CPIP in the News and Other Outreach CPIP had another busy year in terms of interviews, podcasts, articles, panel discussions, and quotes, as the Infrastructure Investment and Jobs Act generated significant interest in our work. > “Unprecedented workshop” highlights new infrastructure delivery methods By Jim Hanchett, Cornell Chronicle June 24, 2022 > Rick Geddes on the State of U.S. Infrastructure—and the Evils of Deferred Maintenance By Beth Saulnier, Cornellians June 21, 2022 > Evaluating the Infrastructure Investment and Jobs Act of 2021 American Enterprise Institute (AIE) Panel of experts eventJune 16, 2022 > Hyperloop: What is Elon Musk’s vision for vacuum tube train – and will it actually happen?

By Anthony Cuthbertson, Yahoo Finance May 26, 2022 > Coors lecture highlights content moderation issues By Laura Gallup, Cornell Chronicle April 18, 2022 > Inflation Threatens to Erode Impact of $1 Trillion Infrastructure Law

By Andrew Duehren, Wall Street Journal, quoting Rick Geddes February 24, 2022 > NewsWise: Postal reform bill is ‘huge, missed opportunity’ February 9, 2022 > The Cornell Policy Review invited Professor Rick Geddes to discuss the 1.2 trillion dollar Infrastructure Investment and Jobs Act. January 6, 2022 > Fix This: Infrastructure & Environment

by R. Richard Geddes | Jordan B. Peterson | Gregg Hurwitz December 6, 2021 > ESG Investing for Institutional Investors, North America 2021 report Section 1.2 Interview “Infrastructure and ESG: The crossroads of America’s future” Interviewer: • Noel Hillman, Chief Executive Officer, Clear Path Analysis Interviewee: • Professor Richard Geddes, Founding Director Infrastructure Policy, Cornell University December 6, 2021

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

18

> “Reform Amtrak to Get the Biggest Value” by Rick Geddes. The Hill.

December 2, 2021 > “Staying in the driver’s seat: Investors buckle up for the transport transition”

By Kali Persall, Institutional Real Estate, Inc., quoting Rick Geddes December 1, 2021 > “New York’s federal jackpot expected to fuel public works construction,” by Joe Mahoney, Niagara Gazette, quoting Rick Geddes November 21, 2021 > “Infrastructure bill is a ‘victory for New York’,” 6Park NewsDesk November 18, 2021 > “History of the US Postal Service” with Rick Geddes, Richard Helppie’s Common Bridge TV- Season 3 Episode 6, November 8, 2021 - Listen to the podcast here > “Analysis on Supply Chain Issue and US Infrastructure with Rick Geddes”, Muslim Network TV November 12, 2021 > “US looks to fill fuel tax gap as drivers go electric,” by David Millward, The National, quoting Rick Geddes November 10, 2021 > “An Agenda for Innovation in Infrastructure”, a special report in November 2021 published jointly with Institutional Investing in Infrastructure, designed for members of the global institutional investment community who have investments in infrastructure or are considering the asset class for future commitments. > “Infrastructure Bill Proposes Voluntary Pilot Program for Per-Mile Vehicle Fee, Not ‘Driving Tax’,”

by Joseph A. Gambardello, MSN.com October 13, 2021 > “Oil spill in CA points to problems with aging infrastructure”, Cornell Chronicle October 5, 2021, featuring Rick Geddes > “States Use Hurricane Ida Damage to Push Infrastructure Bill,” by Elaine S. Povich, The Pew Charitable Trusts, quoting Rick Geddes September 20, 2021 > “Bipartisan infrastructure bill funds new technology in vehicles to combat drunk driving”

by Chloe Nordquist, WTXL-TV August 19, 2021 > “Indicator of the Week: 4.5 Trillion”, National Public Radio Interview by Stacy Vanek Smith August 13, 2021, featuring Rick Geddes, Cornell, and Jim Poterba, MIT > “Senate Passes Bipartisan Infrastructure Bill” by Andrew Duehren, Wall Street Journal August 2, 2021, featuring Rick Geddes

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

19

CPIP Working Papers CPIP published working papers this year with abstracts posted on our website.

These papers represent work that has been submitted for publication in academic journals.

•

“Emissions Analysis of the Port Drayage Truck Replacement Program and Local Air Quality: The case of the Port of New York and New Jersey,” Gina Yeonkyeong Park

•

“A Hazard Analysis of Federal Permitting Under the National Environmental Policy Act of 1970” Michael Bennon, Daniel De La Hormaza, and R. Richard Geddes

•

“Contracting For Urban Bus Services in the US: Revisiting the Least-Subsidy Bidding Approach” R. Richard Geddes, Gabriel Stumpf Duarte de Carvalho, and Michael Lemm

•

“Risk Mitigation in Urban Bus Concession Contracts: Overcoming Uncertainties Caused by the Pandemic,” Gabriel Stumpf Duarte de Carvalho, Rui Cunha Marques, R. Richard Geddes, and Rafael Igrejas da Silva.

•

“The Effects of New York’s Scaffold Law on Worker Safety,” Jacob Arluck, Jacob, R. Richard Geddes, and Xiaodi Li.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

20

Infrastructure Consultation

Professor Thomas D. O’Rourke

Thomas R. Briggs Professor in Engineering Emeritus Civil and Environmental Engineering

Emeritus Professor Tom O’Rourke, CPIP Associate Director, and an expert in engineering underground infrastructure, and infrastructure rehabilitation, has been engaged in several infrastructure consulting projects throughout the year: •

Port of San Francisco, San Francisco, CA

Project Description: Peer review of earthquake-induced ground deformation along the San Francisco Waterfront and Seawall. Evaluation of ground movements and effects on wharfs, buildings, utilities, and road system. Also, evaluation of flooding effects associated with climate change.

•

Tunnel Advisory Panel, Los Angeles County Metro, Los Angeles, CA

Project Description: Review of all tunneling and deep excavations for the West Purple Line Extension, Sections 1, 2, and 3, and Regional Connector. Includes construction in tar sands, horizontal directional drilling & magnetometers to locate gas/oil well casings, instrumentation, permeation and compensation grouting, and TBM operation and measurements.

•

Slate Geotechnical Consultants, Berkeley, CA

Project Description: Technical contributions to performance-based earthquake engineering assessment for gas storage and transmission system in California.

•

ARPA-E, Dept. of Energy Testing and Analysis of Pipeline Encapsulation Technologies

(University of Colorado Boulder [lead], Cornell University; Gas Technology Institute, and University of Queensland: Allan Manalo) 2021-2024. Total Cost $ 5,600,000 for entire team.

•

Applied Technology Council, Redwood City, CA

Project Description: Expert review and advice to achieve seismic resilience in U.S. lifeline infrastructure, functional recovery of lifelines after an earthquake, and evaluation of liquefaction-induced lateral spreading.

•

San Francisco Public Utilities Commission, San Francisco, CA

Peer review for the Lower Alemany Area Stormwater Improvements Project, including site characterization/exploration, seismicity, site response, soil-structure interaction, geotechnical baseline report.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

21

•

San Francisco Public Utilities Commission, San Francisco, CA

Member of Seismic Safety Task Force to review the seismic requirements for design of new facilities and upgrade of existing facilities for San Francisco water, wastewater, and electric power.

•

BART Silicon Valley Extension Phase II, San Jose, CA

Member of review team for seismic design of tunnels for the extension of the Bay Area Rapid Transit (BART) system through San Jose, CA. The evaluation involves site characterization and exploration, soil and ground water properties, site response, and soil-structure interaction for tunnels, adits, and seismic connections with stations.

Infrastructure Research

Professor H. Oliver Gao

Howard Simpson Professor Civil and Environmental Engineering

CPIP Associate Director H. Oliver Gao also has had a productive year in research. His work, which focuses on the intersection of infrastructure and public health, was published in the following academic journals: •

Baghestani, A., M. Tayarani, R. Nadafianshahamabadi, M. Allahviranloo, and H. O. Gao (2022). New York City Cordon Pricing and Its’ Impacts on Disparity, Transit Accessibility, Air Quality, and Health, Case Studies on Transport Policy, https://doi.org/10.1016/j.cstp.2022.01.009 Abstract: Despite recognized positive congestion and environmental impacts, cordon pricing has sometimes been criticized from a social equity perspective. This paper examines the impact of cordon pricing on three key equity indicators in New York City: traffic, public transportation access, and environmental concerns. The share of congested links, accessibility to the subway, and the population-weighted mean exposure to PM2.5 emissions are among the metrics used to measure equity indices. We show that implementing cordon pricing in Manhattan’s Central Business District (CBD) would considerably improve traffic, and environmental metrics for the population inside the cordon area with no significant changes in other boroughs. The CBD will experience a reduction of congested links between 2.1% and 3.6% and a reduction of PM2.5 concentration of 18%. In terms of accessibility to the subway, cordon pricing would mostly affect the non-Hispanic population as well as residents of Queens. The rates of reduction in the average emissions exposure to PM2.5 will vary across racial groups. The pricing strategies will disproportionately help to reduce the negative health outcomes of exposure to traffic related air pollution of residents of Manhattan’s CBD.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

22

•

Shi, J. and H. O. Gao (2022). Efficient Energy Management of Wireless Charging Roads with Energy Storage for Coupled Transportation–Power Systems, Applied Energy https://www.sciencedirect.com/science/article/pii/S0306261922009229 https://news.cornell.edu/stories/2022/07/study-conceptualizes-energy-efficient-wireless-charging-roads Abstract: Wireless charging roads equipped with energy storage systems are promising electric vehicle charging solutions by virtue of their strong advantages in time saving and reduced pressure on the existing power infrastructure. Integration of wireless charging roads into the existing electricity market and efficient management of the corresponding energy storage system are crucial for successful implementation of the wireless charging road systems. In this work, we develop a coupled transportation–power system framework for incorporation of a wireless charging road system into the real-time electricity market. In addition, we propose a Lyapunov optimization-based control strategy to manage the energy storage system in a cost-efficient manner. Our simulation study demonstrates that efficient control of the energy storage system not only reduces the energy costs of the entire wireless charging road system but also alleviates the pressure produced by the wireless charging load on the existing power grid. In our two numerical examples, the energy costs are reduced by 2.61% and 15.34%, respectively. Two indicators of power grid pressure: time average of maximum and time average of standard deviation of locational marginal prices, are reduced by 10.65% and 69.33% for the first numerical example and 5.11% and 34.73% for the second numerical example.

•

Yuechen Liu, Mohammad Tayarania, H. O. Gao (2022). An Agent-based Travel and Charging Behavior Model for Forecasting High-resolution Spatio-temporal Battery Electric Vehicle Charging Demand.

Accepted in Energy.

Abstract: The expansion of the battery electric vehicle (BEV) market requires considerable changes in the supply of electricity to fulfill the charging demand. To this end, understanding the spatiotemporal distribution of BEV charging demand at a micro level is crucial for optimal electric vehicle supply equipment (EVSE) planning and electricity load management. This research proposes an integrated activity-based BEV charging demand simulation model, which considers both realistic travel and charging behaviors and provides high-resolution spatio-temporal demand in real-world applications. Moreover, a novel charging choice model is proposed which provides more realistic demand modeling by allowing critical non-linearities in random utility to better describe observed charging behaviors. The results of a case study for the Atlanta metropolitan area imply that work/public charging has a substantial potential market, which can comprise up to 64.5% of the total demand. Out of multiple charging modes, demand for direct-current fast charging (DCFC) is prominent at work/public locations, and it makes up the largest portion of the non-residential demand in all simulation scenarios. Moreover, charging behaviors have significant impacts on the demand distribution. Peak power demand for use of level-2 chargers is 49% to 91% higher among high-risk-sensitive users than among risk-neutral users. Users’ preferences for fast charging rates can change the DCFC demand from 36.4% of the total demand to 53.7% of the total. This study helps to qualitatively analyze the factors that figure in charging demand and their impacts on the demand distribution. The results can be directly used in EVSE planning and electricity load prediction.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

23

Gina Yeonkyeong Park

Ph.D. Candidate, Regional Science, Cornell University

Gina Yeonkyeong Park is a doctoral candidate of Regional Science at Cornell University. Her expertise lies in GIS analysis, econometrics, and data visualization. She is broadly interested in strategic development for transportation infrastructure, especially in sustainable port logistics, port policy impacts on the business as well as nearby port community health and regional economic growth.

Her dissertation, “Just Air for All: Environmental Justice in Energy Transition,” asks how a diesel-to-electrification energy transition can be equitably made for local port communities. She examines how the Port of New York and New Jersey’s (PANYNJ), “Port Truck Replacement Program (TRP),” changes local air quality for near-port populations, a majority of those are lower-income communities of color. Her findings suggest that, if all eligible old diesel trucks are replaced, then local air quality in terms of NOx would be reduced by at most 63 percent below the hazardous level for human health. This is important because near-port populations also include lower income populations with higher respiratory diseases rates so that each additional unit improvement in air quality has a larger health benefit.

Martha Van Rensselaer Hall on Cornell University’s campus. New home for the Brooks School of Public Policy and the Cornell Program in Infrastructure Policy.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

24

Gabriel Stumpf Duarte de Carvalho

Ph.D. Graduate, MIT in Portugal Program, June 2022 CPIP Visiting Researcher, Fall, 2021

In 2021, Gabriel spent the fall semester as a Visiting Researcher at CPIP as part of his Ph.D. studies with the MIT in Portugal Program at the Superior Technical Institute (IST, Lisbon). Under the supervision of Professor Rick Geddes, he investigated the current dynamics of the American urban bus sector and the possibilities of increasing private participation through P3 and PPOP. Evidence indicates that urban bus operations are facing budgetary constraints under current funding mechanisms. Currently, US public transportation funding is channeled through a combination of the Highway Trust Fund (HTF) at the federal level and state and local government budgets. On average, directly generated revenues, including passenger fares, only cover about one third of total operating costs. Moreover, urban buses have lost patronage in recent decades despite population growth due to a variety of reasons: public investment constraints, lack of public policies to incentivize bus usage, lack of innovation by the state-owned operators, lack of infrastructure (e.g., better bus stops, dedicated bus lanes, terminals, etc.), and the rise of private cars and urban congestion.

The main outcomes of this study indicate that, in cases where the farebox revenue cannot cover operational costs (i.e., where operations are unprofitable), the government can spur private participation through Least-Subsidy Bidding (LSB) and concession contracts. This approach can help relieving the public deficit while transferring some operational and revenue risks to the private operator.

Gabriel also analyzed the Least-Subsidy Bidding, an approach widely used in other countries, to encourage private participation in the provision of urban bus services. This is discussed in Rick Geddes’ research below.

Lastly, Gabriel researched new mechanisms to balance/share the revenue risk in urban bus concession contracts by applying Real Options Analysis as part of his Ph.D. thesis.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

25

Rick Geddes

Founder and Academic Director, Cornell Program in Infrastructure Policy

Rick Geddes’ research this past year focused on several key issues related to infrastructure policy.

His major areas of focus included: •N ew York’s Scaffold Law: This paper examined the law’s effects on worker safety. It considered fatal-fall rates and fatal-construction-injury rates from 1992 to 2002 as worker-safety measures. It also compared New York to Illinois, which repealed its analogous Structural Work Act in 1995.

The research found that the Scaffold Law increased the rate of fatal falls by about five per 100,000 construction workers annually, consistent with a strict liability regime generating worker moral hazard. The law’s high costs imply that alternative approaches to worker safety would better align workers and firms to increase workplace safety by shifting resources towards more targeted efforts to reduce injuries ex ante.

• Risk-sharing mechanisms regarding urban bus concession contracts: Rick and coauthor Gabriel de Carvalho analyzed two different risk-sharing mechanisms applicable to urban bus concession contracts to help manage demand uncertainty in the coming years. The first is a Minimum Revenue Guarantee (MRG) combined with a revenue cap. The second is extending the concession term.

The paper applied those mechanisms to actual bus concession contracts in the Lisbon Metro Area.

The paper found that a concession contract extension does not provide any benefit for either side.

It instead results in a low NPV while requiring more public spending. The paper’s findings can help guide government officials in developing policies to attract private investment in competitive bidding for urban bus services.

•L east-Subsidy Bidding (LSB): Rick and coauthors Michael Lemm and Gabriel de Carvalho examined Least-Subsidy Bidding (LSB) to procure infrastructure contracts. Under an LSB contracting approach, firms bid based on the lowest subsidy they require to ensure a predetermined level of service to non-economic areas. LSB contracting is a type of reverse auction under which providers compete for contracting rights for services that require government subsidies to operate. Such auctions have been used successfully in defense and telecommunications. Via competitive bidding, LSB helps taxpayers obtain the greatest value per dollar of subsidy expended. LSB also injects the incentives, expertise, and capital associated with private participation in transport service delivery. This paper explored the LSB approach with an application to urban bus systems.

• I nternet of Things (IoT): The National Science Foundation awarded $1.5 million to a Cornell team of engineers and researchers to help them bridge New York State’s “digital divide” by designing the nation’s first statewide Internet of Things (IoT) public infrastructure. This research focuses on the creation of a low-power wide-area network (LPWAN) technology, which is a form of low-frequency radio. A public LPWAN network targets long-range, low-power and low-bandwidth applications.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

26

Examples include utility companies reading meters from a distance, government agencies observing traffic remotely, and farmers using crop or livestock sensors in fields or barns. Towns can develop road and flood monitoring to protect civic infrastructure, providing vital real-time information via networked connections.

This work’s goal is to formulate the best business and commercial models to ensure universal network coverage, data privacy, promote responsible data-sharing, and to scale up successful Internet of Things in rural areas in New York State.

Rick, in collaboration with Dr. Max Zhang, is focusing on public-private partnership models as a viable way to ensure universal access to a public IoT network in rural areas.

•G eothermal Well Policy: Geothermal energy is a promising renewable energy source that is derived from heat generated in the subsurface. It is harnessed through deep wells that bring hot steam and water to the surface and power turbines. The science of geothermal energy is rapidly advancing. A technology that was once geographically limited is now prevalent throughout the country. Despite the success of budding technologies, science cannot be implemented without the implementation of strong, sound policy. Geothermal technologies differ by region, each with different procedures and risks. In this way, the policies that govern geothermal energy should not all be the same. This research effort by Rick Geddes in collaboration with Dr. Sriramya Nair, assesses existing federal and state geothermal regulations, analyzes each, and concludes with a set of policy recommendations.

View of the Geothermal Drilling Platform, Ithaca, New York The proposed process would pump water underground, where it would be heated naturally. This naturally heated water would then transfer its heat to a separate supply of water flowing within the campus’ heating distribution pipeline, and return the original water to the subsurface, where it would warm back up and begin the cycle again.

•E ast Side Access Project: Rick was additionally asked to serve on a task force by the Metropolitan Transit Authority of New York City, to assess the readiness of the East Side Access Project for operation.

On February 15, 2022, Rick, along with CPIP’s Richard Coyle and Francisco Pineda, from Columbia University and co-founder of the Empire Infrastructure Council, took a tour of the $11 billion project, connecting the Long Island Railroad with Grand Central Terminal.

Francisco Pineda (left), Rick Geddes (center), and Richard Coyle (right) 140 feet below Park Avenue, touring the East Side Access project.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

27

Alumni Success Stories

Michael Callender SC Johnson College of Business Class of 2021 Master of Business Administration

Michael’s interest in sustainable infrastructure development and finance began during his time as a US Army officer, prior to his studies at Cornell. His experience as a paratrooper in Ukraine, where he supported the implementation of a multinational training program for the Ukrainian Ground Forces in 2015/2016, instilled a passion for finding alternative energy solutions to energy access and security. Michael led a fleet of horses and soldiers during his final active duty military assignment with the Caisson Platoon, part of The Old Guard conducting ceremonies in Arlington National Cemetery. After experiencing the history of transportation, he was inspired to pursue an MBA to make an impact on the converging sectors of alternative energy and sustainable transportation.

At Cornell, Michael pursued experiential coursework and conducted projects for EDF Renewables, Gridspan Energy, and interned with Marathon Capital. He pursued coursework outside of the Johnson School during his second year, including an infrastructure policy class with Professor Rick Geddes. The experience led him to enroll in the Infrastructure Project Management and Finance (IPMF) program as a fellow under the leadership of John Foote. His capstone project consisted of on-site analysis of dislocated traffic patterns, resulting from the COVID-19 pandemic, and their effect on revenues for a public-private-partnership toll bridge. The project was sponsored by CPIP Advisory Board member Bob Hellman with support from Professor Foote as faculty advisor.

After graduating in May 2021, Michael joined Highland Electric Fleets in the North Shore of Boston. He is currently the Director of Fleet Solutions and is responsible for developing public-private-partnerships for K-12 yellow school bus electrification across North America. Highland is leading the industry for efficient charging infrastructure, Vehicle-to-Grid energy services and resilience, and new business model innovation.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

28

Kara Guse Master of Professional Administration in Infrastructure Policy, Cornell College of Human Ecology, Class of 2021 Bachelor of Science in Materials Science and Engineering, Cornell College of Engineering, Class of 2019

Kara’s journey to infrastructure finance and development began with a conversation with Rick Geddes and John Foote in 2019. Kara was considering career possibilities besides those suggested by her Bachelor’s degree, which she realized were not her calling only a few months before graduation. However, Kara had a budding passion for Southeast Asian development and policy. After some discussions with Professors Geddes and Foote, she was convinced that a Master’s in Public Administration (MPA) with a concentration in Infrastructure Policy through Cornell would expand these passions professionally.

In her Master’s, Kara enrolled in various infrastructure-related courses in and out of her college – “Infrastructure Finance” with John Foote, “Management and Planning in Southeast Asia,” “Geographic Information System Mapping,” and, her favorite, the “Infrastructure Project Finance and Management” Practicum in Puerto Rico. In this opportunity, Kara was introduced to financial and infrastructure leaders around Puerto Rico and saw how their institutions collaborated in a time of crisis. She was especially impressed by how infrastructure resilience against natural events determined the Island’s rate of development. Seeing how similar Puerto Rico’s situation was to Southeast Asia, Kara found the practicum to be one of her most valuable experiences at Cornell and was proud to co-author a paper (with other students) titled “Infrastructure Resiliency in the Context of Puerto Rico”.

Upon graduation and with John Foote’s help (yet again!), Kara was awarded a 2021 Fulbright Student Research Fellowship to Cambodia. Her research analyzed how new political and fiscal decentralization policy affected land management. Specifically, Kara examined those policies’ effects on Protected Areas, or lands designated for environmental protection, and their intersection with infrastructure development. Upon completion, Kara returned to the United States to begin a career at UBS as a Public Finance analyst. She is excited to continue working at the intersection of finance, infrastructure, and development, and is extremely grateful to John Foote and Rick Geddes for taking the time and compassion to encourage a confused senior in the right direction.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

29

Susie Monsell Cornell Institute of Public Affairs Class of 2018 Master of Public Administration

Susie came to Cornell looking to study public budgeting and management, with a minor focus on emergency management. In pursuit of that work, Susie took an infrastructure policy course with CPIP Academic Director Rick Geddes and very quickly found an interest in the larger infrastructure finance and policy sphere – enough of an interest to then take an infrastructure policy course with John Foote – then an infrastructure practicum considering the intersection of air service and economic development, also with John Foote. Susie ultimately decided to pursue the CIPA certificate program in Infrastructure, Project Management, and Finance (IPMF).

Susie was drawn to infrastructure policy and finance as one of the most palpable paths in public administration because she could physically see the impact of her work. The policy was rarely simple, and the finances were complex - it was a challenge.

Since finishing the MPA program at Cornell in 2018, Susie started working in the Finance Department with the City of Issaquah, Washington, approximately 10 miles east of Seattle. Starting as a budget analyst and later promoted to Budget Manager in 2022, Susie has built two 6-year Capital Improvement Plans, three annual budgets (averaging approximately $125 million), and is currently working on the city’s first biennial budget. A particular challenge was reworking the city’s 2020 budget in response to the global pandemic and anticipating a 20% budget shortfall. Once this biennial budget is complete, the next challenge will be to start the next Capital Improvement Plan in early 2023, building out a far more robust project selection scoring than the City of Issaquah has ever incorporated into its capital planning process.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

30

Michael Tranter Bachelor of Science in Industrial and Labor Relations, Cornell University, Class of 2002

Michael’s career in infrastructure began with a Cornell career fair, when he met a team from Public Financial Management, the largest municipal advisor to state and local governments, who introduced him to the field at the intersection of government, finance, and infrastructure.

Michael joined the PFM team in Philadelphia and a year later accelerated his career by moving to New York and eventually joining the public finance investment banking team at Merrill Lynch. At this time, Michael also pursued a part-time graduate degree in real estate at NYU. Since then, Michael has worked in a variety of development, advisory, investment banking and capital markets roles with a common theme of financing and investing in real assets. Michael has extensive experience with acquisition finance, bank loans, bonds, and interest rate derivatives and is a recognized expert in the financing of complex public private partnerships.

Michael recently led the advisory and financing for SMBC’s role in financing 34 on campus student housing assets as part of Blackstone’s $13B acquisition of American Campus Communities. Previously, Michael advised Transurban on the $1B acquisition of the A25 toll bridge. Michael also led SMBC’s underwriting of the $9B JFK New Terminal One project financing and the $1B construction financing for the Vista Ridge Regional Supply water pipeline.

Michael and his wife Sara Meisel Tranter (Arts and Sciences, Class of 2002) live in Greenwich Village with their two daughters, Ellie (11) and Mia (8). In their spare time, Michael and Sara are passionate investors in opportunity zone real estate.

While CPIP was established after Michael left Cornell, he is an advocate for the mission it serves within the infrastructure industry, bringing together thought leadership, advocacy, and supporting the growth of the next generation of industry leadership.

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

31

Financial Performance CPIP had another solid financial year. The Charles Koch Foundation continued to fund our core operations, while gifts from our Board members provided essential resources for future growth. Spending was still modest, as travel was still reduced due to the pandemic. We did bring on a part time Program Assistant and hosted some guest speakers for classes.

Revenue Carry Forward from FY 2020

$372,620

Grant from National Science Foundation for

Workshop to be Held in FY23

99,892

Funds Transfer from Charles Koch Foundation

125,000

Other Gifts 168,030 Transfers In 47,510 Total $813,052

Expenses Salaries and Wages $210,190 Benefits 77,566 Services 20,185 Other 42,887 Indirect Expenses 8,008 Transfers Out 65,888

Total

$424,724

Carry Forward to FY 2023

$388,329

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

32

Giving Report Our program benefited tremendously this past year from the generosity of our Board and other friends of the program. We raised over $168K in cash and $2.8 million with pledges, which will be used to further our mission in teaching, research, and public outreach. We would like to recognize and thank our donors as follows:

Corporate Entities

Individuals

ACS Infrastructure Development, Inc. American Infrastructure Funds

Adam Balter ‘09 Stephen C. Beatty

Bechtel Enterprises EY Foundation Globalvia Operations USA Nossaman LLP Sidewalk Infrastructure Partners

Samantha and Darren Bechtel Family Foundation Jonathan W. Berger ‘81 Jane K. Bessin ‘79 Drew Campbell W. Andrew Deihl ‘94 Michael Fishelson, ‘71 Peter Ford Mark P. Griffin, MPA ‘98 Martha E. Gross Christopher Kouza Joung Lee Susan Lee Edward A. Merlis William C. Pappas Matthew Perna, MEng ‘01 Himanshu Saxena, MEng ‘00 Kevin J. Shuba Raman J. Singh Michael D. Tranter ‘02 Rick Webb Douglas Weill ‘88 Zachary Woods ‘18 Scott Zuchorski ‘97

Pledges Antin Infrastructure Partners Sidewalk Infrastructure Partners

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

33

Generous Gift from Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure investments, based in London, Paris, New York and Singapore. The firm focuses on investments in energy and environment, telecommunications, transportation and social infrastructure sectors with over 190 professionals, delivering long-term value to portfolio companies and investors. Antin’s Managing Partner, Mark Crosbie, is a member of the Board of Advisors for the Cornell Program in Infrastructure Policy, and announced a very substantial corporate gift, payable over five years. CPIP is exploring how to best use this generous gift, which is sincerely appreciated by the program and the Brooks School of Public Policy.

“

Our corporate gift will help support Cornell’s premier program in infrastructure policy as a 21st-century leader. Throughout history, technological advancement and societal change have been drivers of innovation, with infrastructure critical to facilitating progress for the benefit of society. Antin is committed to educating the next generation of infrastructure leaders to enable that progress.

Mark Crosbie, Managing Partner, Antin Infrastructure Partners

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

” 34

Contact Us

The Cornell Program in Infrastructure Policy is still working from home.

The best way to reach us remains via email: • Professor Rick Geddes, Academic Director

rrg24@cornell.edu

• Richard Coyle, Executive Director

rjc89@cornell.edu

• Olga Petrova, Program Assistant

ogp2@cornell.edu

Our website can be found at publicpolicy.cornell.edu/impact/centers-programs-institutes/cpip/.

Our program is funded by grants and gifts. If you would like to participate in our growth and make an impact on infrastructure policy, please consider a donation. Gifts can be made securely online or by mail: •

Online: Make your gift to CPIP online.

•

By mail: Mail your check to Cornell University, Box 37334, Boone, IA 50037-0334 (Please make checks payable to Cornell University and be sure to note for “CPIP fund # 0017758” in the check memo.)

For gifts made outside the USA, stock or wire transfers or planned giving questions, please contact Haley Weiss, Assistant Dean, Alumni Affairs and Development, Jeb E. Brooks School of Public Policy at hs258@cornell.edu.

We appreciate your generosity!

Cornell Program in Infrastructure Policy at the Cornell Brooks School of Public Policy

35