Virginia lawmakers are looking at legislation that would
allow private investors to contribute funds to help build
state highways and bridges.
similar public-private transportation law exists in Virginia.
Virginia Highways Commissioner Phillip Shucet has referred
to it as “another tool in the toolbox.”
public-private partnership can be good in times of budget
constraints, Shucet told The Charleston Gazette. But
he said the private sector had to be willing to take financial
decision I try to make is does this proposal contain enough
risk in the private sector to forgo the competitive bidding,
and to negotiate what is a sole source contract,” he said. “I’m
not suggesting the private sector take all the risks.”
state must be watchful, he said, that the private investor
is taking sound risks. If a private investor proposed to
sell bonds and recoup all of his money through tolls, he
can’t find three years out that the tolls aren’t adequate,
says no more than 2 percent of the amount of the West Virginia
Division of Highways’ competitively bid projects can be dedicated
to public-private projects.
the measure, DOH would be responsible for all maintenance
after a project’s completion. The bill would preclude tolls
or user fees on existing interstate highways or free roads
and bridges unless reconstructed at increased capacity.