Virginia Releases Guidelines for Public-Private Road Projects

State transportation officials have released new guidelines that would require more government review and transparency on infrastructure projects with public-private partnerships

Richmond Times-Dispatch

 

State transportation officials in Virginia have releasted new draft guidelines that would change the way the state handles public-private partnerships (P3s) for building highways and other major transportation facilities. The guidelines woudl give the state board and transportation officials responsibility for assessing the risks of propsed P3s as well as responsibility for communicating those risks to the state legislators and the public, according to the article from the Richomond Times-Dispatch.

The guidelines would require the board's review and action at three states in the development of P3 projects:

  • before the project enters development stage
  • before the project enters the procurement process
  • before a final contract is signed with a contractor

The guidelines also call for a steering committee within VDOT that would include members of the state board, the chairmen of the Senate and House of Delegates transportation committees, and an independent state financial expert, the article says.

Finally, the new guidelines would require additional review of projects that do not solicit competitive bids in the procurement process or meet the objectives of the P3 program.

(more on Virginia's new P3 draft guidelines for road projects...)

 

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