Virginia legislature calls for port privatization study
Virginia’s legislature passed a resolution calling for the formation of a committee to study possible “public-private partnerships” at the state’s ports.
Currently the Hampton Road terminals of the Virginia Port Authority are publicly operated by Virginia International Terminals.
The legislation setting up the committee said such partnerships “may lead to improvements in service to the people and businesses of Virginia, and also to potential financial benefits through involvement of private capital and financial resources” and “may result in a reduction in the need for the commitment of taxpayer dollars in transportation programs without any diminution of service, along with other benefits available to business and the general public.”
It proposes a 19-person joint subcommittee of the state’s House of Delegates and Senate, with 10 legislators and nine members from the “port-oriented transportation business committee” to study the issue over the next two years.
The committee, which will hold four hearings this year and four in 2009 is charged with:
' Examining different operating and financing mechanisms for addressing seaport development, including public and private approaches.
' Identifying the total cost of future development of Virginia’s seaport including refurbishment and enhancement of existing and planned future seaport facilities.
' Determining the surface transportation impacts of the import and export of trade through Virginia’s seaports and the gaps in today’s surface transportation. It is also asked to determine the impact of future development of the seaport.
' Recommending priorities for addressing the related surface transportation needs throughout the state through 2035.
Virginia legislature calls for port privatization study
