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P3 financing advances Ohio's Innerbelt Bridge project

GasBuddy Blog -- Construction on major infrastructure repairs and improvement projects is being advanced now by 'P3s' --public private partnerships, according to the Ohio Dept. of Transportation.

ODOT and Governor John Kasich announced that, for the first time in ODOT history, the state is implementing P3 financing that will eliminate construction delays for the Innerbelt Bridge project despite ODOT's $1.6 billion budget deficit.

The Innerbelt Bridge is a truss arch bridge in Cleveland, Ohio carrying Interstate 90/Innerbelt Freeway over the Cuyahoga River, a major state transportation corridor. With the announcement, Ohio became the 30th state in the U.S. to enact legislation permitting P3 financing.

According to the Cleveland...


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Submitted Sep 10, 2012 By: PD
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REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Sep 12, 2012 11:01:28 PM

jrs: lots of builders could learn a lot about bridges.
honda0105
Champion Author Tallahassee

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Message Posted: Sep 12, 2012 11:01:17 PM

often the lower bids spell shoddy work due to lots of shortcuts...
jrschl
Champion Author Louisville

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Message Posted: Sep 11, 2012 10:15:46 PM

Bridges, we could learn a thing or two about bridges around here.
GasSpy007
Champion Author New York City

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Message Posted: Sep 11, 2012 7:42:28 PM

old
melvindale
Champion Author Michigan

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Message Posted: Sep 11, 2012 4:46:03 PM

The lowest bid is seldom, if ever, the best bid.
speedway2hi
Sophomore Author Indiana

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Message Posted: Sep 11, 2012 4:31:16 PM

Guess the stimulus jobs weren't so shovel ready, after all.
speedway2hi
Sophomore Author Indiana

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Message Posted: Sep 11, 2012 4:30:46 PM

What happened to the stimulus money? What was that boondoggle for, if not infrastructure? Or was it one GIANT slush fund for Obama and his cronies to distribute among campaign contributors and financiers?
DYSKYPILOT
Champion Author Fort Worth

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Message Posted: Sep 11, 2012 4:02:15 PM

Ok.
svspyda
Champion Author San Jose

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Message Posted: Sep 11, 2012 3:15:20 PM

ok
wshutton
Champion Author Albuquerque

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Message Posted: Sep 11, 2012 3:15:14 PM

I find this somewhat suspect as private companies always seem to take from the Government without giving back to those governed.
fishgaro
Champion Author St. Louis

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Message Posted: Sep 11, 2012 2:36:14 PM

ok
sparky808
Champion Author Honolulu

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Message Posted: Sep 11, 2012 2:34:23 PM

Thank you for posting.
jalan25
Champion Author Indianapolis

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Message Posted: Sep 11, 2012 2:29:19 PM

Old
johnrb
Champion Author Michigan

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Message Posted: Sep 11, 2012 2:26:05 PM

OK
gils
Champion Author Ohio

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Message Posted: Sep 11, 2012 2:24:48 PM

ok
regout
Champion Author Quebec

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Message Posted: Sep 11, 2012 2:21:19 PM

good for them.
danreino
Champion Author Twin Cities

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Message Posted: Sep 11, 2012 2:18:06 PM

Whoopee for Clevelanders.
julius1st4
Champion Author Ontario

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Message Posted: Sep 11, 2012 2:11:47 PM

Who cares; it won't have any effect on "Gas Prices"??
Ron77095
Champion Author Houston

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Message Posted: Sep 11, 2012 2:08:56 PM

Ok.
mconley1967
All-Star Author Louisville

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Message Posted: Sep 11, 2012 2:04:59 PM

ok
Jakster
Champion Author Allentown

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Message Posted: Sep 11, 2012 2:01:20 PM

Great idea, hope it works for them.
bobsalwaysmt
Champion Author Long Island

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Message Posted: Sep 11, 2012 2:01:01 PM

I'll bet it will be better managed & be completed more cost effectively.
dsaine
Champion Author North Carolina

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Message Posted: Sep 11, 2012 1:58:42 PM

K
Teddy95
Champion Author Dayton

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Message Posted: Sep 11, 2012 1:58:41 PM

Hmmm...
dsw56
Champion Author Kentucky

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Message Posted: Sep 11, 2012 1:58:10 PM

They will probably hire a firm out of China to do the construction work, just like California did.
biza4u
Champion Author New Haven

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Message Posted: Sep 11, 2012 1:57:38 PM

Ok
reeneedan
Champion Author San Jose

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Message Posted: Sep 11, 2012 1:54:02 PM

congress should have given the money to the states 3 years ago to repair the roads and bridges, instead of sitting on their asses and doing nothing for the last 4 years.
MDTDriver
Champion Author California

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Message Posted: Sep 11, 2012 1:52:15 PM

Ok if it works.
ratones1
Champion Author Los Angeles

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Message Posted: Sep 11, 2012 1:49:59 PM

SOUNDS OKAY...
monieet
Champion Author California

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Message Posted: Sep 11, 2012 1:47:17 PM

ok
isem
Champion Author Missouri

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Message Posted: Sep 11, 2012 1:45:05 PM

OK
TimTim
Champion Author Vancouver

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Message Posted: Sep 11, 2012 1:41:01 PM

if it's really needed, have to find a way to do it. :)
BlewettCA
Veteran Author California

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Message Posted: Sep 11, 2012 1:37:06 PM

ok
sydb7
Champion Author Atlanta

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Message Posted: Sep 11, 2012 1:37:03 PM

Sell naming rights to private corporations for money? The Exxon Bridge?
ROSYMI
Champion Author Michigan

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Message Posted: Sep 11, 2012 1:35:39 PM

old news
briinnc
Champion Author North Carolina

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Message Posted: Sep 11, 2012 1:35:08 PM

OK
EmperorsFinest
Champion Author Chicago

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Message Posted: Sep 11, 2012 1:33:15 PM

I agree with Valricoslash
Grinch09
Champion Author Grand Rapids

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Message Posted: Sep 11, 2012 1:32:47 PM

Gitter done!
Valricoslash
Champion Author Tampa

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Message Posted: Sep 11, 2012 1:31:38 PM

Great. Now maybe we can put some engineers and construction workers to work building it.
QualTekGuy
Champion Author Illinois

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Message Posted: Sep 11, 2012 1:31:38 PM

This story is as old as the bridge.
AcuraTSX
Champion Author Ohio

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Message Posted: Sep 11, 2012 1:28:50 PM

ok
GRUMPY55
Champion Author California

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Message Posted: Sep 11, 2012 1:21:23 PM

ok
flatrock14
Champion Author Michigan

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Message Posted: Sep 11, 2012 1:18:52 PM

if it needs to be
slowpoke63
Champion Author Louisiana

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Message Posted: Sep 11, 2012 1:18:23 PM

ok
biggyhy
Champion Author Milwaukee

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Message Posted: Sep 11, 2012 1:18:04 PM

ok
FlyNFool
Champion Author South Carolina

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Message Posted: Sep 11, 2012 1:17:15 PM

ok?
spotterFL
Champion Author Florida

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Message Posted: Sep 11, 2012 1:13:51 PM

So What????
bigsranch
Champion Author Houston

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Message Posted: Sep 11, 2012 1:12:08 PM

Roads and bridges should be primarily a state responsibility, so good for Gov. Kasich.
redtruck01
Champion Author North Carolina

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Message Posted: Sep 11, 2012 1:09:20 PM

Lots of work needed everywhere.
katmandue
Champion Author Detroit

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Message Posted: Sep 11, 2012 1:08:40 PM

We need more programs like this but it isn 't free we have pay one way or the other. Ether with highrr taxes or higher cost to consumers because companies still have to give high returns to their investors.
dougtaylor1
Champion Author Phoenix

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Message Posted: Sep 11, 2012 1:07:31 PM

Slow news day.
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