RICHMOND -- Governor Terry McAuliffe (D-VA) says he thinks public-private partnerships for road construction in Virginia are a good idea, but they have to be win-win projects.
In March, he stopped payments on the 55-mile Route 460 project from Suffolk to Prince William County.
At that time, he said the state would demand transparency and competitiveness in all future public-private partnerships.
On Thursday, McAuliffe said the Commonwealth Transportation Board passed a resolution to do just that and to better evaluate the public’s risk for projects delivered under the Public Private Transportation Act. Read the resolution.
"I have asked Secretary (Aubrey) Layne to work with the board to evaluate the state’s approach to public-private partnerships to ensure that we are giving Virginians the maximum return on their investment in those projects. P3’s are a great tool for accomplishing projects that would not otherwise get done, but only when they are negotiated to put Virginians’ best interests first,” he said.
McAuliffe says it's important to identify, minimize and limit the risks to the Virginia Department of Transportation and the public by highlighting “high risk” projects.
McAuliffe says recommendations to implement the reforms will be presented during the board's October meeting.