03/25/2009 - The Rendell administration's failed effort to lease the Pennsylvania Turnpike last year was hampered by unrealistic financial assumptions, a lack of investment planning, and a short-sighted focus on immediate impacts instead of long-term effects, a Washington policy research institute said yesterday.
The Pew Center on the States analyzed Pennsylvania's experience as a primer on how to - and how not to - partner with private companies to operate public highways and other facilities.
Rendell's plan for a 75-year lease of the turnpike for $12.8 billion to a Spanish-U.S. consortium was killed last fall by legislative resistance. Rendell had proposed to invest the lease payment to generate income for transportation projects around the state.
Read the full article Learning from PA.'s Failure to Lease Turnpike on the The Philadelphia Inquirer's Web site.