A unique approach to infrastructure development, which is common in Europe, Australia and other major countries, is focused on creating needed infrastructure while enhancing regional economic development, including congestion relief. While the local governments retain ownership of the highways, project developers are compensated based on what are known as “availability payments”, which are earned only if strict contractual performance measures, such as quality construction, operation and management, are met. Stiff penalties are incurred if performance falls short. Performance priorities are established by the government. Financial risks are shouldered by the concessionaire, not local tax payers........here
Tuesday, November 27, 2007
Governor Crist And Availability Payments
A unique approach to infrastructure development, which is common in Europe, Australia and other major countries, is focused on creating needed infrastructure while enhancing regional economic development, including congestion relief. While the local governments retain ownership of the highways, project developers are compensated based on what are known as “availability payments”, which are earned only if strict contractual performance measures, such as quality construction, operation and management, are met. Stiff penalties are incurred if performance falls short. Performance priorities are established by the government. Financial risks are shouldered by the concessionaire, not local tax payers........here
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