The Smart Cities Council (smartcitiescouncil.com) released a new book in April 2014 to help local governments understand the financing options available for technology projects. The Smart Cities Financing Guide (smartcitiescouncil.com/resources/smart-cities-financing-guide) outlines 28 promising financial tools for urban infrastructure enhancements, including some techniques that do not require any up-front money from a local government.

The guide offers criteria for evaluating financing options and allows a manager to differentiate which approach is best for his or her project and community. It also provides case studies outlining successful application of the tools.

The Center for Urban Innovation at Arizona State University partnered with the Smart Cities Council to produce the guide with input from the council’s financing committee. ASU is one of six dozen universities, national laboratories, standards bodies, climate advocacy groups, and development banks that make up the council's advisory board.

Navigating Complexities

“Knowledge of financial instruments and the processes to engage in sustainable financing of technologies is vital, yet few know how to navigate these complexities,” says Kevin Desouza, ASU associate dean for research, College of Public Programs.

“This guide provides practitioners, whether local government or business organizations, with an insight into the myriad financial options that one can use to underwrite investments in smart technologies."

The financing guide is part of the Smart City Council’s premium resource library, which also includes the Smart Cities Readiness Guide (smartcitiescouncil.com/resources/smart-cities-readiness-guide), which provides leading practices for launching a smart city initiative.