N.Y. commission looks at public-private partnerships
New York State should consider privatization and public-private partnerships to bridge funding gaps for capital projects, said a state commission.
Issuing a preliminary report earlier this month, the New York State Commission on State Asset Maximization said 'opportunities for asset maximization exist in virtually every asset class,' citing transportation, social infrastructure, communications, utilities, gaming, and recreation and tourism, and could be 'used to achieve faster construction, cost savings, and higher quality infrastructure.'
'The state's transportation infrastructure is deteriorating and no longer fully satisfies current or projected demands. Reversing this downward trend will require new comprehensive and long-term investment strategies,' the report said.
New York has 113,616 miles of highways (38,183 of which are state-owned) and 17,406 highway bridges (7,632 of which are state-owned. More than 141 billion vehicle miles are driven annually across this infrastructure, the report noted.
The commission, which plans to issue its final report by April 2, said 'surface transportation, the state's highways and bridges, represent the greatest challenge. Recognizing that mass transit, rail, aviation and ports are also a critical part of New York's multimodal system, the commission will devote considerable attention to these areas during the next ninety days.'
The 11-person commission is headed by Charlotte Hitchcock, New York Gov. David Paterson's chief of staff and director of financial regulation.
More information about the report may be viewed on line at http://www.nysamcommission.org/.