Haskell: 'Public-Private Partnerships Will Help Get CT Moving'

"Public-Private Partnerships Will Help Get CT Moving"

by State Senator Will Haskell and State Representative Roland Lemar

President Biden is pushing a big, bold infrastructure package. Connecticut is now a stronger applicant for federal aid.

Congress is debating an historic and transformative investment in our country's roads, bridges, and rails. Nearly any iteration of President Biden's plan would create thousands of jobs and provide a path toward a greener, safer, more connected future. This is welcome news in Connecticut, where decaying infrastructure hampers our economic development and worsens our quality of life. Soon, Connecticut will begin competing with other states for a fair share of federal funds.

There's no question that Connecticut has major needs, from restoring over 350 structurally deficient bridges to speeding up a commuter train line that's gotten slower over the last five decades. We're pleased to say that, thanks to legislation recently approved by the House and Senate, Connecticut will be able to compete with our neighbors in attracting innovative financing and address those needs.

What is innovative financing? Right now, we typically pay for infrastructure improvements through bonding. That's fine, to the extent that we're comfortable asking our kids and grandkids to pick up the tab. But since bonding in Connecticut is limited, so too is our ability to tackle major projects. Think, for example, of the messy intersection where I-91 meets I-84, or the Waterbury Mixmaster. Consider the moveable bridges in Fairfield County that are so old they require trains to slow down in order to cross safely. In each case, tackling these renovations costs hundreds of millions of dollars. Consequently, it will take ages to make these investments under our glacial status quo.

Luckily, innovative financing tools such as availability payments provide a path forward. Previously prohibited in Connecticut, private sector partners could now to provide money up front for the Department of Transportation as an alternative or supplement to bonding. There's no transfer or leasing of state assets, nor privatization of state work. States pay back these private sector partners through installments, resulting in more projects and speedier completion. Along the way, they gain access to specialized technology and expertise that is available in the private sector.

What does this have to do with President Biden's infrastructure plan? Transportation Secretary Pete Buttigieg has made clear that the federal government will reward states that take advantage of innovative financing opportunities. Already, federal grant reviewers charged with distributing the Infrastructure for Rebuilding America program and Rebuilding American Infrastructure with Sustainability and Equity awards are asking states to demonstrate their capacity to innovate.

Connecticut's outdated public-private partnership regulations, until now, have held our state back. If SB 920 becomes law, the Department of Transportation will have the opportunity to partner with private sector investors, increasing the pace with which we can pursue transformative improvements rather than slowly chip away at the small stuff. We did not let this moment pass us by, and we're excited to get Connecticut moving again.

Senator Haskell and Representative Lemar are Senate and House Chairs of the Transportation Committee.