Florida plan to raise cash would call for 50-year leases

Nov. 26, 2007

With a $2.5 billion road construction budget shortfall over the next two years, stemming from challenges such as declining gasoline tax and higher costs, Florida finds itself needing a solution—and it may have found it with a new plan calling for 50-year leases on state toll roads and bridges.

State officials are contemplating selling the leases on Alligator Alley and other state toll roads and bridges in exchange for large sums of money from private investors.

With a $2.5 billion road construction budget shortfall over the next two years, stemming from challenges such as declining gasoline tax and higher costs, Florida finds itself needing a solution—and it may have found it with a new plan calling for 50-year leases on state toll roads and bridges.

State officials are contemplating selling the leases on Alligator Alley and other state toll roads and bridges in exchange for large sums of money from private investors.

In a preliminary study, the Florida Department of Transportation estimated a 50-year lease on Tampa's Sunshine Skyway Bridge could bring in $1.3 billion if investors were allowed to set tolls at “market rates.” Alligator Alley—I-75 from West Broward to Naples—could be worth $1.3 billion as well.

Florida would follow in the path of other areas, including Indiana, Chicago and San Francisco, which have made billions from similar deals to sell road leases to private investors.

Sponsored Recommendations

The Science Behind Sustainable Concrete Sealing Solutions

Extend the lifespan and durability of any concrete. PoreShield is a USDA BioPreferred product and is approved for residential, commercial, and industrial use. It works great above...

Powerful Concrete Protection For ANY Application

PoreShield protects concrete surfaces from water, deicing salts, oil and grease stains, and weather extremes. It's just as effective on major interstates as it is on backyard ...

Concrete Protection That’s Easy on the Environment and Tough to Beat

PoreShield's concrete penetration capabilities go just as deep as our American roots. PoreShield is a plant-based, eco-friendly alternative to solvent-based concrete sealers.

Proven Concrete Protection That’s Safe & Sustainable

Real-life DOT field tests and university researchers have found that PoreShieldTM lasts for 10+ years and extends the life of concrete.