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Traditional transportation financing is no longer able to meet new transportation financing requirements, therefore an innovative transportation financing program is called for. Innovative transportation financing program can generate new revenue and speed up transportation project delivery process. In spite of its funding potentials, innovative financing mechanism is also constrained by many factors, such as legal authority, eligible uses and others. In the foreseeable future, loan-based financing mechanism will gradually be phased in, and grant-based financing mechanism will gradually be phased out. Innovative funding sources will contribute more to delivering transportation projects, but traditional funding sources will remain dominant in the years to come due to their stable revenue sources.
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