Madfloridian's Journal - Florida may lease toll roads, bridges to private investors.

Toll road rates are expected to rise as are the costs for bridges. Thus the private companies will make profits on the backs of the people who will pay the cost for maintenance. The price of all the tax-cutting here. Don't get me started on how they plan to pay for fire and police services....people are starting to wonder.

Florida considers leasing toll roads, bridges to private investors

The Sunshine State Skyway Bridge is one being considered for this experiment.

TAMPA - Faced with a $2.5 billion budget shortfall over the next two years, Florida leaders are considering selling 50-year leases on some state toll roads and bridges in exchange for large sums of cash from private investors.

In a preliminary study, the Florida's Department of Transportation estimated a 50-year lease on Tampa's Sunshine Skyway Bridge could be worth $1.3 billion if investors were allowed to set tolls at "market rates." The study used the example of the SunPass toll, which would double in the first, fourth and 10th years of the deal, climbing from 75 cents to $5 within a decade on the Skyway.

Florida would follow the lead of other places including Indiana, Chicago and San Francisco, which have made billions from similar deals to sell road leases to private entities. Florida's $8 billion-a-year road construction budget faces challenges such as declining gasoline tax revenue and higher materials costs.

Governor Crist say Florida won't do it unless it is good for Florida. Since it is passing the costs to those who ride the toll roads and bridges, it should be very good for the companies and for the state.

Opponents worry Florida drivers could get a raw deal over the long-term because private investors would make big profits from aggressive toll hikes. And they fear privatization could hurt the poor.

......"Take Alligator Alley. For many people, that's the only way to go from east to west Florida and vice versa," said Sen. Mike Fasano, a New Port Richey Republican who is chairman of the Senate Transportation Committee. "It would be controlled by a private entity that could raise tolls ad nauseam. It could make it unaffordable for people to travel."

I am wondering how much oversight the state would give this "private investors" to make sure they are doing the proper upkeep and maintenance.