Transportation projects paved the way for public/private partnerships in Virginia

The Public-Private Transportation Act of 1995 (PPTA) has effectively demonstrated how private-sector participation can expedite public transportation projects. Under the PPTA, local/state governments are free to enlist the aid of private companies not only to construct or improve transportation facilities, but also to maintain or operate them.

PPTA also makes it possible for public entities to consider both solicited and unsolicited proposals for major transportation-related projects.

Perhaps the biggest benefit for localities is the new financing choices allowed by the legislation. With such innovative options as facility leasing and private bond investment, transportation projects no longer have to be hampered by time-consuming procurement/allocation procedures.

Since PPTA’s passage, several public projects have benefited from private-sector design/build efficiencies. (As an example, the very first PPTA project completed in the state—a 17-mile stretch of Rt. 288—was completed for $47 million less than VDOT projections!)

The bottom line is that the PPTA serves the public good by helping important transportation projects proceed more quickly—and by helping construction budgets remain as low as possible.

For more complete information about PPTA legislation and projects, refer to www.virginiadot.org/business/ppta-default.asp