Private Toll Booth Considered Again
I wrote here and here about how nutty an idea it is to have private companies build toll roads to fund new road construction.
Faced with a funding shortfall, the Florida Department of Transportation wants a private firm to not only design and build the project, but finance it. Under one option being considered, the contractor would recoup its costs through tolls and be responsible for maintenance for up to 50 years.
You should wonder how Florida is going to recoup the tax money used for construction. Another question is will the company that wins the bid be around in 50 years to handle maintenance.
What I do know is that people avoid toll roads. The Florida Department of Transportation reprinted a Ft. Lauderdale Sun-Sentinel that reports the Veterans Expressway and Suncoast Parkway have not met toll revenue expectations.
Color me unimpressed.