Governor McDonnell Announces Draft Public-Private Transportation Act “Pipeline” of Projects
Virginia’s Next Generation of Potential PPTA Investments
(Received from the Office of Governor Bob McDonnell)
Governor Bob McDonnell today announced the Office of Transportation Public-Private Partnerships’ (OTP3) “pipeline” of candidate projects. The pipeline contains both well-established transportation public-private projects long identified as priorities, as well as new transportation concepts under consideration for delivery via Virginia’s Public-Private Transportation Act (PPTA).
“We are seeking private sector input on potential PPTA projects. These projects are ultimately successful investments for Virginia because together the OTP3 and our private sector partners create tremendous synergy, offering the very best of government and private sector innovation and financing,” said Governor McDonnell. “This is a very exciting time for Virginia business and transportation.”
Since its creation in 1995, Virginia has used the PPTA to deliver critical transportation infrastructure projects such as the recent $2.1 billion Downtown Tunnel/Midtown Tunnel/MLK Extension in Hampton Roads, the $940 million I-95 HOV / HOT Lanes in Northern Virginia and the investment of an additional $124 million in the Coalfields Expressway and Route 58 in western Virginia.
Eight candidate and 14 conceptual PPTA projects have been identified. The projects represent regional priorities and present the potential for private sector innovation and investment. Projects may be candidates for delivery via the PPTA once aspects of business and financial suitability are further developed in 2012. Conceptual projects identify potential diverse multimodal opportunities for private sector partnerships with the Virginia Commercial Space Flight Authority, the Department of Motor Vehicles, as well as more traditional roadway and transit concepts through the Department of Transportation and Department of Rail and Public Transportation.
The PPTA pipeline was developed by Secretary of Transportation Sean T. Connaughton, the OTP3 and the seven Virginia transportation agencies to reflect Governor McDonnell’s continued commitment to multimodal transportation improvements in the Commonwealth.
“The past two years have seen the McDonnell administration take several proactive steps to meet Virginia’s transportation challenges including streamlining the PPTA implementation guidelines and creation of the OTP3 to focus on the identification, development and delivery of P3 projects across all modes of transportation in Virginia,” said Secretary Connaughton. “The OTP3 has been charged with creating an environment that encourages private investment and proactively identifies, assesses and implements the Commonwealth’s priority transportation projects.” The OTP3 Director, Tony Kinn, emphasized “the pipeline is a significant step forward and reinforces why Virginia continues to be viewed as a national leader in public-private partnerships.”
The PPTA pipeline is available at www.vappta.org. The OTP3 welcomes comments on the pipeline through July 2, 2012. A webinar for industry feedback on the PPTA pipeline will also be scheduled; for details visit www.vappta.org.
For information on the Office of Transportation Public-Private Partnerships and Virginia’s public-private partnership program, visit www.vappta.org.