Financing Surface Transportation in the United States: Forging a Sustainable Future—Now! (2012) / Chapter Skim
Currently Skimming:
Pages 33-36
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From page 33... ...
Now that there are multiple delivery options, including design–build, availability payment and toll concessions, and predevelopment agreements, the challenge is to match the right projects with the right delivery tools. Early P3 initiatives relied on the private sector to identify projects.
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From page 34... ...
Key examples of this approach include the North Tarrant Express and I-635 LBJ managed lanes in Texas and the Port of Miami Tunnel and the I-595 Improvement Project (including high-occupancy toll lanes) in Florida.
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From page 35... ...
A study comparing 21 P3 projects with 33 traditionally procured transport improvements indicated a net cost overrun of $58 million for the P3 projects versus $673 million for the traditional projects. Of the P3 projects in the sample, 3.4 percent were completed ahead of schedule, while 24.5 percent of the traditionally procured projects opened behind schedule.
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From page 36... ...
The North Tarrant Expressway and I-635 LBJ managed lane projects have involved direct pension fund investment. Comment: In Denver, Colorado, sales tax–backed availability payments are a unique risk structure.
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