1 Gordon, Cameron "Legislation Authorizing Partnerships Across the United States," briefing paper for the Partnerships for New York conference entitled Innovative Transportation Financing and Contracting Strategies: Opportunities for New York State, and held March 8, 2006 in Albany, New York.
2 The relative value of future toll revenue, tax ownership, and efficiency depends on the structure of the PPP, the particular asset in question, and the private partner itself. At the "Partnerships for New York" conference in Albany in March 2006, representatives of private investment and finance firms indicated that efficiency savings, especially considering labor constraints, would be nominal compared with the value of tax ownership and future toll revenue.
3 New Jersey Turnpike Authority Annual Report, 2004. <http://www.state.nj.us/turnpike/2004-NJTA-Annual-Report.pdf>
4 "Financial Statements and Supplementary Information, New Jersey Turnpike Authority, December 31, 2001, and 2000, with Report of Independent Auditors." <http://www.state.nj.us/turnpike/2001fs.pdf>
5 Poole, Robert and Samuel, Peter "The Return of Private Toll Roads." Public Roads Vol. 69 No. 5 (March/April 2006). <http://www.tfhrc.gov/pubrds/06mar/06.htm>; Knight, Jerry. "Infrastructure: A Road to Riches?" The Washington Post 20 March 2006. <http://www.washingtonpost.com/wp-dyn/content/article/2006/03/19/AR2006031900913_pf.html>
6 "Goldman Sachs debuts infrastructure fund." New York Business.Com. 28 December 2006.
< http://www.newyorkbusiness.com/apps/pbcs.dll/article?AID=/20061228/FREE/61228002/1052/newsletter01>
7 Federal Highway Administration web site, Public Private Partnerships page, accessed December 2006 <http://www.fhwa.dot.gov/PPP/legislation.htm>
8 UBS Investment Bank. State of New Jersey Asset Evaluation Program Phase 1 Report. November 15, 2006. Page 67.
9 A long-term concession lease has also been used in Texas, Virginia and California. The Chicago and Indiana cases are more comparable to the New Jersey and simpler, so those are the examples referred to here.
10 Dopp, Terrence "New Jersey Lawmaker Says Road Lease May Raise $10 Bln" Bloomberg.com 21 December 2006.
11 Federal Highway Administration web site, Public Private Partnerships page, accessed December 2006. <http://www.fhwa.dot.gov/PPP/ltla.htm>
12 Carvlin, Elizabeth "Indiana Accepts $3.8B Bid to Run Toll Road." BondBuyer, posted 24 January 2006. <http://www.bondbuyer.com/article.html?id=2006012371SXCU5R&from=intraday>
13 Guinane, Patrick "Lease Bid is $3.85 Billion." The Times of Northwest Indiana 24 January 2006. <http://www.tollroadforsale.com/day3bid.php>
14 Federal Highway Administration web site, Public Private Partnerships page, accessed December 2006. <http://www.fhwa.dot.gov/PPP/legislation.htm>
15Greenhouse, Steven "Falling Fortunes of Wage Earners." New York Times 12 April 2005.
16 Olsen, Stefanie "New directions in car safety and navigation." msn.com. <http://tech.msn.com/products/article.aspx?cp-documentid=1880374>
17 Perrotta, Alexis and Peters, Jonathan, "Case Studies of Public Private Partnerships," briefing paper for the Partnerships for New York conference entitled Innovative Transportation Financing and Contracting Strategies: Opportunities for New York State, and held March 8, 2006, in Albany, New York.
18DeAgostino, Martin and Guinane, Patrick "Northern Indiana wary of toll lease details." The South Bend Tribune and The Times of Northwest Indiana 22 January 2006. <http://www.tollroadforsale.com/day1details.php>
19 UBS Investment Bank. State of New Jersey Asset Evaluation Program Phase 1 Report. November 15, 2006. Pages 64 and 67.
20 Standard & Poor's PPP Credit Survey 2005 "Can Public-Private Partnerships Advance U.S. Roadway Infrastructure Development?" Commentary 7 April 7 2005.
21 Replogle, Michael A. "High Performance Corridors: Emerging Transportation Management Framework?" 2006, <http://www.environmentaldefense.org/documents/5391_HighPerformanceCorridors2006.pdf>
22 Muto, Sheila "Residents Have Their Say On LAX Expansion Plans," Wall Street Journal's Real Estate Journal 15 December 2004.
23 Peters, Jonathan and Perrotta, Alexis, "Well-Designed Legislation and Agreements Help Ensure Successful Projects," briefing paper for the Partnerships for New York conference entitled Innovative Transportation Financing and Contracting Strategies: Opportunities for New York State, and held March 8 2006 in Albany, New York.
24 This section was adopted from RPA's November 2005 report, "Reform, Revenue, Results: How to Save New Jersey's Transportation System." Appendix D, Page 19.
25 There is already an indication that this revenue might be used for short-term property tax relief or paying down the state's pension liabilities. McNichol, Dunstan "Sale of Turnpike won't be simple, Corzine says." Newark Star Ledger 21 December 2006. <http://www.nj.com/news/ledger/jersey/index.ssf?/base/news-5/116668005129040.xml&coll=1>
26 "Fitch Rates New Jersey Transportation TFA's $2.8B Bonds 'A+'." Business Wire 12 May 2006. <http://www.findarticles.com/p/articles/mi_m0EIN/is_2006_May_12/ai_n16360636>
27 "A Message from Governor Corzine." Jon Corzine for Governor website, January 2007. <http://www.corzineforgovernor.com/>