An overview of innovative finance activity in highway and transit programs is presented. It is hoped that readers are given enough information to assess the usefulness of a particular financing device for their agencies. The financings are grouped into five categories: lease-structured financings; structures that achieve more with less money; cross-border leases; derivatives; and miscellaneous. Each of the financings is assessed to determine which of FTA's goals for innovative financing are achieved, that is, whether the financing reduced the costs of capital projects or provided better management of cash flow.
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