1. Policymakers on both sides of the river should evaluate the benefits to a toll concessionaire and quickly attempt to get agreement on a bi-state approach to seeking investors for this concession with a goal of building the bridge by 2012. Ideally, this would be a bi-state effort.
2. The Missouri and Illinois Departments of Transportation should then seek expressions of interest and statements of qualification from companies. It is important to consider the entire spectrum of qualified concessionaires. Due to the length of experience and depth of knowledge on such projects, many international companies will be potential candidates and must be considered. A project this size should attract major players. One of the major benefits of private-sector involvement will be encouraging innovation within the plans and designs that are approved by state and federal authorities.
3. Missouri and Illinois Departments of Transportation should determine appropriate requirements regarding sensitivity to union and labor involvement and minority participation.
4. Experienced toll concession legal and financial advisors should be immediately engaged. There are now several teams of consultants around the country experienced in structuring and detailing a toll concession to ensure best value for the public, with transparency and encouragement of the best ideas. We want to emphasize the importance of retaining of counsel with direct, recent experience in successfully structuring similar deals in the U.S.
5. An investment-grade traffic and revenue study should be commissioned. Thus far, all the estimates of traffic are relatively rudimentary. The study's completion and release should be planned for the stage of final bids by potential concessionaires.
6. Proposals from the qualified global companies or groups should be reviewed based on bidders' ability to provide best-value proposals within the terms of the approved plans.
7. Based on recent experience, it is expected that bids will be in excess of the cost of the bridge. The excess funds should be distributed between Missouri and Illinois for appropriate use. For example, excess funds could be used to fund further infrastructure needs, to temporarily underwrite the cost of the tolls, etc.
8. Although any changes in the scope of the bridge are out of the scope of this taskforce,we did get input that the numbers of lanes currently designed may be needed in the very long term but may not be needed in the near future. Cost savings may be found by scaling back the number of lanes.
9. Innovations should be encouraged to attract regular commuters to the facility, including toll technology to allow non-stop movement, tolling by transponders and video at highway speed. Old-fashioned toll plazas should not be encouraged.