Posts Tagged P3’s
During this – his last year in office – Governor Terry McAuliffe has been boasting about a deal his administration cut with an international group called Express Mobility Partners. The deal sounds too good to be true, and some critics say it is.
That firm says it will build new lanes on I-66 outside the beltway in Northern Virginia in exchange for the right to collect tolls for the next 50 years. It will also give the state millions of dollars for mass transit, parking lots and improvements to existing roads. The deal sounds too good to be true, and some critics say it is.
Sandy Hausman has more as she wraps up her two-part series on P3’s.
President Donald Trump has signaled strong interest in partnering with the private sector to rebuild the nation’s infrastructure. Critics warn that public-private partnerships or P3s often allow savvy corporations to fleece taxpayers, but Governor McAuliffe and his secretary of transportation say they’ve found a way to protect the public and make P3s a success. Sandy Hausman has more in this first story of a two-part series.