PUBLIC WORKS News Service-Amid growing demand to repair America's deteriorating roadways, a new report from the Pew Center on the States, to be released Tuesday, March 24, assesses Pennsylvania's unsuccessful effort to lease its turnpike to private investors and provides recommendations for states considering similar agreements in the future.
Despite the recent infusion of $27.5 billion for highways in the federal stimulus package, the nation still faces an annual funding gap of $47 billion for roadway projects. Cash-strapped states are likely to consider public-private partnerships to generate revenue and make improvements to roads andbridges. The report evaluates in detail the positive and negative aspects of how the proposed Pennsylvania turnpike lease was structured and handled. Pew makes specific recommendations for states contemplating future public- private partnerships for infrastructure. The Pew Center on the States interviewed Pennsylvania officials and advisors, legislators, representatives of the bidders and the Turnpike Commission, and transportation and finance experts. Pew reviewed the lease proposal and relevant documents, and researched similar deals in other states and countries.
WHAT: Pew Center on the States report on public-private infrastructurepartnerships, including:
- Analysis of the Pennsylvania Turnpike lease proposal and process
- Recommendations for states considering future agreements
WHEN: 11 a.m. EST, Tuesday, March 24, 2009
WHERE: Toll-Free Conference Call Telephone Number: 1-866-800-8648
Pass Code: 552 461 05
WHO: Susan Urahn, managing director, Pew Center on the States
Michele Mariani Vaughn, senior associate, Pew Center on the States