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Fri February 22, 2013
Bill Would Allow Public-Private Partnerships For Big Construction Projects
State Rep. Sannie Overly has filed a bill that will allow the Kentucky Transportation Cabinet to explore public-private partnerships to help construction projects with big price tags.
The bill doesn't specifically name any projects, but Kentucky currently has multiple instances where the bill could help work start, namely the Brent Spence Bridge in Northern Kentucky and Interstate 69 in western Kentucky.
Overly, a Paris Democrat, said the goal is to help the state have one more avenue to help fund its infrastructure projects.
"This bill is not designed for any one particular project, it is really nothing more than an additional tool in the toolbox of the Kentucky Transportation Cabinet," she said.
In public-private partnerships, companies contribute to the construction costs in exchange for access to revenue sources, such as tolls. Under Overly's bill, the public-private option would be available only to so-called mega-projects, which is any project which costs more than $500 million.