Assessing Debt Affordability for Large Capital Projects: A Case Study

John Bartle, Kenneth A. Kriz and Qiushi Wang

Municipal Finance Journal, 2008, vol. 29, issue 2, 1 - 20

Abstract: Occasionally, infrastructure needs become an urgent priority beyond the typical capital planning process. A natural question when this occurs is whether the extra expenditures necessary to construct and maintain the new project are affordable. This paper documents the existing literature and guidance regarding affordability analysis. It then uses this guidance to analyze the affordability of one mandated capital project. After some comments regarding the shortfalls of the existing guidance, the authors introduce a new method of assessing affordability for these projects.

Date: 2008
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