A legislative effort to make public-private partnerships available for state funded projects or services is moving forward in Frankfort.
The measure would expand the use of public and private entity agreements to deliver a service or provide a facility for the general public, with much of the focus on large transportation projects. Kentucky Transportation Cabinet Secretary Mike Hancock says it's not feasible to eliminate all financial risks. "We cannot sit here today and say there will be no risks in dealing with a private entity, nor could a private entity look at me and say there's no risk in dealing with the state," said Hancock.
A proposed amendment failed that would have removed tolls as a financing option for the Brent Spence Bridge Project. Bill Sponsor Leslie Combs told committee members that financial transparency is the highest priority. "I want nothing to do with this unless it is completely and totally above board transparent and that everything is before the people, and there is absolutely no wrong doing whatsoever by certainly parties of the private sector," said Combs.
Joe Meyer with Northern Kentucky United, a citizen based group, testified in opposition to the bill. He cited a number of failed national public private partnerships. "Pocahontas Toll Road in Richmond Virginia, bankrupt. Dulles Greenway, bankrupt. State Route 91 in California, bankrupt. State route 125 P-3, bankrupt," said Meyer.
After rejecting a number of amendments, the bill easily passed the House Appropriations and Revenue Committee.
