Abstract:
This paper examines the Commonwealth of Virginia’s experience utilizing a state Public Private Transportation Act [PPTA or the Act] to promote funding for new infrastructure. Virginia’s PPTA is an initiative that federal highway officials recommend as a model for public private partnership legislation. Federal highway researchers have performed an exhaustive 28-point analysis of Virginia’s PPTA and found it to be extremely flexible. This paper will review Virginia’s PPTA project history and the use of the PPP concept and tolls in the United States. The paper will then focus on recent PPTA developments in Virginia including the June 29, 2006, $548 million concession arrangement concluded with an Australian toll operator to manage and maintain the 8.8-mile tolled Pocahontas Parkway near Richmond. Finally, this paper will present some conclusions about Virginia’s experience.
