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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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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Sep 12, 2012 10:01:28 PM Ignore honda0105 Report Abuse jrs: lots of builders could learn a lot about bridges.
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Sep 12, 2012 10:01:17 PM Ignore honda0105 Report Abuse often the lower bids spell shoddy work due to lots of shortcuts...
jrschl Champion Author Louisville Posts:3,102 Points:707,790 Joined:Jun 2011	Message Posted: Sep 11, 2012 9:15:46 PM Ignore jrschl Report Abuse Bridges, we could learn a thing or two about bridges around here.
GasSpy007 Champion Author New York City Posts:1,953 Points:514,075 Joined:Nov 2011	Message Posted: Sep 11, 2012 6:42:28 PM Ignore GasSpy007 Report Abuse old
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Sep 11, 2012 3:46:03 PM Ignore melvindale Report Abuse The lowest bid is seldom, if ever, the best bid.
speedway2hi Rookie Author Indiana Posts:56 Points:346,720 Joined:Sep 2008	Message Posted: Sep 11, 2012 3:31:16 PM Ignore speedway2hi Report Abuse Guess the stimulus jobs weren't so shovel ready, after all.
speedway2hi Rookie Author Indiana Posts:56 Points:346,720 Joined:Sep 2008	Message Posted: Sep 11, 2012 3:30:46 PM Ignore speedway2hi Report Abuse 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 Posts:3,032 Points:652,205 Joined:Mar 2006	Message Posted: Sep 11, 2012 3:02:15 PM Ignore DYSKYPILOT Report Abuse Ok.
svspyda Champion Author San Jose Posts:1,748 Points:354,985 Joined:May 2012	Message Posted: Sep 11, 2012 2:15:20 PM Ignore svspyda Report Abuse ok
wshutton Champion Author Los Angeles Posts:1,805 Points:951,650 Joined:Mar 2009	Message Posted: Sep 11, 2012 2:15:14 PM Ignore wshutton Report Abuse 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 Posts:1,626 Points:371,575 Joined:Apr 2012	Message Posted: Sep 11, 2012 1:36:14 PM Ignore fishgaro Report Abuse ok
sparky808 Champion Author Honolulu Posts:3,139 Points:624,685 Joined:Sep 2011	Message Posted: Sep 11, 2012 1:34:23 PM Ignore sparky808 Report Abuse Thank you for posting.
jalan25 Champion Author Indianapolis Posts:2,445 Points:596,320 Joined:Sep 2011	Message Posted: Sep 11, 2012 1:29:19 PM Ignore jalan25 Report Abuse Old
johnrb Champion Author Michigan Posts:8,080 Points:1,988,565 Joined:Oct 2006	Message Posted: Sep 11, 2012 1:26:05 PM Ignore johnrb Report Abuse OK
gils Champion Author Ohio Posts:1,711 Points:646,975 Joined:Feb 2011	Message Posted: Sep 11, 2012 1:24:48 PM Ignore gils Report Abuse ok
regout Champion Author Quebec Posts:3,090 Points:859,430 Joined:May 2010	Message Posted: Sep 11, 2012 1:21:19 PM Ignore regout Report Abuse good for them.
danreino Champion Author Twin Cities Posts:8,469 Points:1,563,535 Joined:Mar 2008	Message Posted: Sep 11, 2012 1:18:06 PM Ignore danreino Report Abuse Whoopee for Clevelanders.
julius1st4 Champion Author Ontario Posts:4,272 Points:1,199,650 Joined:Jul 2003	Message Posted: Sep 11, 2012 1:11:47 PM Ignore julius1st4 Report Abuse Who cares; it won't have any effect on "Gas Prices"??
Ron77095 Champion Author Houston Posts:3,195 Points:629,400 Joined:Sep 2011	Message Posted: Sep 11, 2012 1:08:56 PM Ignore Ron77095 Report Abuse Ok.
mconley1967 All-Star Author Louisville Posts:586 Points:378,980 Joined:Mar 2012	Message Posted: Sep 11, 2012 1:04:59 PM Ignore mconley1967 Report Abuse ok
Jakster Champion Author Allentown Posts:1,020 Points:488,815 Joined:Mar 2005	Message Posted: Sep 11, 2012 1:01:20 PM Ignore Jakster Report Abuse Great idea, hope it works for them.
bobsalwaysmt Champion Author Long Island Posts:4,709 Points:268,240 Joined:Oct 2007	Message Posted: Sep 11, 2012 1:01:01 PM Ignore bobsalwaysmt Report Abuse I'll bet it will be better managed & be completed more cost effectively.
dsaine Champion Author North Carolina Posts:3,150 Points:659,220 Joined:May 2011	Message Posted: Sep 11, 2012 12:58:42 PM Ignore dsaine Report Abuse K
Teddy95 Champion Author Dayton Posts:41,280 Points:2,722,850 Joined:Oct 2005	Message Posted: Sep 11, 2012 12:58:41 PM Ignore Teddy95 Report Abuse Hmmm...
dsw56 Champion Author Kentucky Posts:1,374 Points:574,990 Joined:Dec 2010	Message Posted: Sep 11, 2012 12:58:10 PM Ignore dsw56 Report Abuse They will probably hire a firm out of China to do the construction work, just like California did.
biza4u Champion Author New Haven Posts:8,658 Points:1,654,625 Joined:Jan 2007	Message Posted: Sep 11, 2012 12:57:38 PM Ignore biza4u Report Abuse Ok
reeneedan Champion Author San Jose Posts:1,233 Points:402,030 Joined:May 2011	Message Posted: Sep 11, 2012 12:54:02 PM Ignore reeneedan Report Abuse 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 Posts:9,848 Points:2,180,900 Joined:Jul 2006	Message Posted: Sep 11, 2012 12:52:15 PM Ignore MDTDriver Report Abuse Ok if it works.
ratones1 Champion Author Los Angeles Posts:2,987 Points:756,005 Joined:Mar 2011	Message Posted: Sep 11, 2012 12:49:59 PM Ignore ratones1 Report Abuse SOUNDS OKAY...
monieet All-Star Author California Posts:978 Points:551,085 Joined:Mar 2011	Message Posted: Sep 11, 2012 12:47:17 PM Ignore monieet Report Abuse ok
isem Champion Author Missouri Posts:2,061 Points:449,910 Joined:Feb 2012	Message Posted: Sep 11, 2012 12:45:05 PM Ignore isem Report Abuse OK
TimTim All-Star Author Vancouver Posts:668 Points:1,466,650 Joined:Aug 2004	Message Posted: Sep 11, 2012 12:41:01 PM Ignore TimTim Report Abuse if it's really needed, have to find a way to do it. :)
BlewettCA Veteran Author California Posts:318 Points:243,410 Joined:May 2012	Message Posted: Sep 11, 2012 12:37:06 PM Ignore BlewettCA Report Abuse ok
sydb7 Champion Author Atlanta Posts:3,651 Points:1,941,620 Joined:Mar 2003	Message Posted: Sep 11, 2012 12:37:03 PM Ignore sydb7 Report Abuse Sell naming rights to private corporations for money? The Exxon Bridge?
ROSYMI Champion Author Michigan Posts:1,028 Points:387,850 Joined:Nov 2011	Message Posted: Sep 11, 2012 12:35:39 PM Ignore ROSYMI Report Abuse old news
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Sep 11, 2012 12:35:08 PM Ignore briinnc Report Abuse OK
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Sep 11, 2012 12:33:15 PM Ignore EmperorsFinest Report Abuse I agree with Valricoslash
Grinch09 Champion Author Grand Rapids Posts:1,744 Points:84,500 Joined:Dec 2009	Message Posted: Sep 11, 2012 12:32:47 PM Ignore Grinch09 Report Abuse Gitter done!
Valricoslash Champion Author Tampa Posts:6,831 Points:1,379,950 Joined:Nov 2008	Message Posted: Sep 11, 2012 12:31:38 PM Ignore Valricoslash Report Abuse Great. Now maybe we can put some engineers and construction workers to work building it.
QualTekGuy Champion Author Illinois Posts:3,178 Points:759,615 Joined:Feb 2007	Message Posted: Sep 11, 2012 12:31:38 PM Ignore QualTekGuy Report Abuse This story is as old as the bridge.
AcuraTSX Champion Author Ohio Posts:5,626 Points:2,207,880 Joined:Dec 2005	Message Posted: Sep 11, 2012 12:28:50 PM Ignore AcuraTSX Report Abuse ok
GRUMPY55 Champion Author California Posts:1,666 Points:433,140 Joined:Oct 2011	Message Posted: Sep 11, 2012 12:21:23 PM Ignore GRUMPY55 Report Abuse ok
flatrock14 Champion Author Michigan Posts:2,780 Points:802,530 Joined:Oct 2010	Message Posted: Sep 11, 2012 12:18:52 PM Ignore flatrock14 Report Abuse if it needs to be
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biggyhy Champion Author Milwaukee Posts:1,601 Points:499,780 Joined:Sep 2011	Message Posted: Sep 11, 2012 12:18:04 PM Ignore biggyhy Report Abuse ok
FlyNFool Champion Author South Carolina Posts:8,374 Points:1,711,700 Joined:Aug 2008	Message Posted: Sep 11, 2012 12:17:15 PM Ignore FlyNFool Report Abuse ok?
spotterFL Champion Author Florida Posts:4,262 Points:546,540 Joined:Aug 2009	Message Posted: Sep 11, 2012 12:13:51 PM Ignore spotterFL Report Abuse So What????
bigsranch Champion Author Houston Posts:3,282 Points:1,032,205 Joined:Apr 2007	Message Posted: Sep 11, 2012 12:12:08 PM Ignore bigsranch Report Abuse Roads and bridges should be primarily a state responsibility, so good for Gov. Kasich.
redtruck01 Champion Author North Carolina Posts:1,621 Points:1,383,720 Joined:Mar 2009	Message Posted: Sep 11, 2012 12:09:20 PM Ignore redtruck01 Report Abuse Lots of work needed everywhere.
katmandue Champion Author Detroit Posts:8,206 Points:2,160,845 Joined:Jul 2006	Message Posted: Sep 11, 2012 12:08:40 PM Ignore katmandue Report Abuse 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.