Tom Warne Report, 28 March 2012
Ohio transportation officials have announced the creation of a new division focused on alternative forms of funding for road and bridge projects, specifically using public-private partnerships. The Ohio Department of Transportation formed the Division of Innovative Delivery as a result of the state legislature passing House Bill 114, which gave the agency the ability to enter into Public Private Partnerships for transportation projects.
“The state is facing a serious budget crisis when it comes to funding new projects. We’ve said all along it’s up to us as state to be innovative and find alternative funding solutions; that’s exactly what we are doing with P3,” ODOT Press Secretary Steve Faulkner said.
ODOT has said the $650 million Portsmouth Bypass project is likely to be built through the P3 process, with funding for only the first of its three phases secured so far.
“Given our current funding situation, who knows when we would have the money for phases two and three,” Faulkner said. “What we are looking at is the opportunity to work with a private company that could build all three phases at once.”