The Benefits and Drawbacks of Public Private Partnerships Portageville Bridge Replacement Project

摘要

Norfolk Southern Railway Company participated in a Public Private Partnershipwith the NYSDOT and FHWA to replace its bridge over the Genesee River at Portageville, NewYork. Through the partnership about 20% of the project funding was provided by NYSDOTand FHWA. Norfolk Southern funded the remaining 80% of the cost. The partnership alsoincluded a number of conditions that would not have been required if Norfolk Southern hadself-funded the project. This paper will look at the benefits and drawbacks in terms of cost,time and environmental permitting for a private firm in a Public Private Partnership. ThePortageville Bridge replacement project will be compared with other projects that were fullyfunded by Norfolk Southern. The paper will also provide criteria to examine when consideringentering into a Public Private Partnership.