Albany, N.Y. – 6/20/2013 – Senator Greg Ball (R, C, I – Patterson) has renewed his call to pass his public-private partnership legislation, S5501, after a new report has revealed one out of eight bridges in New York State is considered structurally deficient and is in need of repairs or maintenance.
Public-private partnerships, also known as P3’s, allow private firms or union pension funds to invest in the construction and operation of public projects, such as highways and bridges. In return, the government agency makes fixed payments to them or gives a share of toll revenue.
Senator Ball says that P3 legislation will allow for proper maintenance and repairs of bridges and infrastructure throughout the state without passing the costs down to taxpayers.
“This report shouldn’t come as a surprise to anyone. It’s clear as day that our infrastructure is crumbling and instead of doing the proper maintenance and repairs we are kicking the can down the road because of funding issues,” said Senator Greg Ball. “It is time that we legislatively enable public-private partnerships. These innovative partnerships will allow for proper maintenance, while reducing the burden on federal, state and local taxpayers as well as commuters and ratepayers.”
Ball’s public-private partnership legislation would help transfer the risks associated with projects from a government entity to a private partner. One of the benefits is that the private partner would be responsible for project cost overruns and maintenance which would eliminate the government’s risk of having to find additional public funds to complete and maintain a project.
For more information contact Joe Bachmeier at Joe@ball4ny.com or (845) 531-9796.