Independent appraisers

In section 5.6 (pgs 63, 68) the report calls for local toll authorities to contract for binding arbitration with independent appraisers to establish a fair market valuation. While the use of independent appraisers seems ideal, it may not be the best policy in practice. Finding experienced and qualified companies without pre-existing business relationships with PPP companies and toll authorities would be very difficult, if not impossible. Additionally, testimony to the committee indicated valuations could differ dramatically from one evaluator to the other as there are few similar sales for comparison. The difference in the appraisals could differ by billions of dollars.