Conn. governor looks to private investors for electronic highway tolls | Dump Truck Company
Lacking federal help, one U.S. governor is moving ahead to help drum up private funds for needed road maintenance and improvement projects.
Connecticut Gov. Ned Lamont said this week that he is exploring bringing in private investment to help pay for constructing electronic highway tolls through a partnership with the state, the Hartfield Courant reports.
“The state would eventually issue a request for proposals to get specific plans from businesses if tolls are approved by the legislature, but all details of the public-private partnership have not been worked out,” reports Christopher Keating.
He goes on to explain that one possibility is private investors could provide upfront money to construct an overhead toll system before motorists start depositing hundreds of millions of dollars a year into state coffers. Some, however, question the funding plan.
“The construction costs for Lamont’s plan—which includes tolling all vehicles on I-95, I-91, I-84 and Route 15—are currently projected at $213 million,” the story says. “Tolls would not be fully implemented until the 2025 fiscal year. They would raise about $800 million a year.”