Oklahoma figures to get about $465 million in federal stimulus money to use for highway projects. It could use a lot more — the Department of Transportation identified 180 projects, with a price tag topping $1 billion.
Many states have begun looking at different means — namely, the private
sector — to help deal with transportation issues. A good many of those
efforts have been scotched, but states continue to seek solutions.
An interesting one is occurring in Florida, where a Spanish-led group will design, build, operate and maintain three new toll lanes near Fort Lauderdale. The cost: $1.8 billion over 35 years. But the model is new to the United States
— the state isn’t affected by cost overruns during construction, the
consortium will operate and maintain the road but the state will set
toll rates and keep the revenue, and the consortium will be paid back
over the life of the deal based on performance clauses tied to how well
it builds and maintains the road.
"This project is a harbinger of what we may be seeing over the next
decade or so, as we don’t have enough money for major construction,” Robert Poole, a transportation expert with the Reason Foundation, told The Wall Street Journal.
There have been efforts in our Legislature to keep the Oklahoma Turnpike Authority
from ever getting together with the private sector, so selling this or
other ideas could be difficult. But as revenues decline, the need to
maintain our highways and turnpikes continues. Exploring new ways to do
that only makes sense.
Posted on
Tue, March 17, 2009
by Crystal Drwenski