monetization
NJ Gov Corzine acknowledges lack of support for his big toll hikes plan
Posted Wed, 2008-03-05 22:23Governor Corzine has acknowledged he isn't getting political support for his big tollroads monetization plan that he put out early this year. And his supporters are saying only a much scaled down version of the plan is
possible together with abandonment of the elaborate set of political cutouts Corzine proposed to limit backsliding - what some have characterized as a Rube Goldberg legal contraption.
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NJ Repubs challenge constitutionality of Corzine tollroads scheme - say can't grant franchise to PBC
Posted Wed, 2008-02-13 20:36New Jersey Republican legislative leaders have raised an interesting constitutional challenge to
Governor Cozine's tollroad monetization scheme. Senate GOP leader Tom Kean and assembly leader Alex DeCroce say it violates a constitutional bar on granting special privileges.
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Gov Corzine releases draft bill to monetize New Jersey tollroads
Posted Tue, 2008-02-05 05:02
Under Governor Corzine's draft legislation to monetize New Jersey's tollroads, the New Jersey Turnpike, the Garden State Parkway, the Atlantic City Expressway and NJ440 would be transferred to a New Jersey Turnpike Authority reconstituted as New Jersey Capital Solutions Corporation (NJCSC). 1985 words read more »
Corzine puts $s where mouth is - a personal $500k to press tolls plan
Posted Mon, 2008-02-04 12:50New Jersey Governor Jon Corzine has contributed $500k of his personal funds to set up a new group called Save our State NJ intended to campaign for his tollroads monetization plan, local press reported today. The group is being run by Jennifer Godoski, 30, who resigned from a $109k/yr job as chief of staff at NJDOT recently to take on the role of lobbyist and campaigner.
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New Jersey toll increases proposed by Corzine were a political decision - REVIEW of T&R reports
Posted Mon, 2008-01-21 22:26Governor Corzine and his administration specified the New Jersey toll increases to be modeled by their traffic and revenue (T&R) consultants in a reversal of the normal relationship. 3095 words read more »
NJ Turnpike to secure borrowings of $37.6b with max 50% toll hikes 2010, 2014, 2018, 2022 + indexation
Posted Tue, 2008-01-08 12:18
Governor Jon Corzine is proposing creation of a state owned but independently controlled Public Benefit Corporation (PBC) to take over New Jersey's tollroads under a toll concession that would raise $37.6b - for paydown of state debt and transport improvements. The concession agreement would allow maximum increases of 50% in toll rates in 2010 and further 50% toll hikes in 2014, 2018, and 2022, plus inflation adjustments on an annual basis.
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Corzine to campaign throughout state for monetization of New Jersey Turnpike
Posted Tue, 2008-01-01 07:17
Governor Jon Corzine will tour the state speaking in all 21 counties over the next few weeks on behalf of his proposal to monetize the New Jersey Turnpike. The first of what are being called "Governor Corzine's Financial Restructuring and Debt Reduction Town Hall Meetings" is set for Jan 12 in Livingston in Essex Co, with others following at two or three days intervals in Hackensack Bergen Co, Randolph in Morris Co, and Middle Twp in Cape May.
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Corzine admin says NJ Pike monetization report incomplete & therefore confidential
Posted Mon, 2007-10-29 12:05The Corzine administration has filed a paper with a Superior Court in Trenton arguing that since their consultant studies on privatization and monetization of the New Jersey Turnpike are incomplete they are exempt from open records laws.
Two Republican state legislators filed a lawsuit demanding release of the consultant report after the state treasury
department rejected their requests for copies.
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New Jersey public just as much opposed to monetization of Turnpike as to privatization
Posted Tue, 2007-09-25 13:37
An opinion poll released today shows Governor Jon Corzine faces almost as much public skepticism about "monetization" of the New Jersey Turnpike as about privatization in the form of a longterm lease/concession. 349 words read more »
Penn Pike pays first 'concession fee' of $62.5m to state
Posted Wed, 2007-08-08 20:16
The Pennsylvania Turnpike say they have made their first payment to the state under the terms of the recently passed
legislation - Act 44 - giving them a 50 year concession to toll I-80 and authority to raise tolls on the mainline by 25%.89 words read more »
NTTA/Regional Council deal done on Tx SH121 - M Morris
Posted Thu, 2007-07-19 09:28A 'monetization' deal between North Texas Tollway Authority (NTTA) and regional governments
providing billions in upfront cash for the region in competition with a private concessionaire on SH121 has been completed 40 days ahead of schedule, according to Michael Morris staff director.
He said this at a transport forum in Austin this morning, according to reports.
TOLLROADSnews 2007-07-19
Penn Pike's Joe Brimmeier trumps state Governor - comes out of fight with growing road portfolio
Posted Wed, 2007-07-18 19:52
The Pennsylvania Turnpike Commission's (PTC) Joe Brimmeier has trounced Governor Edward Rendell, coming out of an eight month long political fight with his Turnpike Commission's control of the venerable Turnpike system untouched. In addition he has legislative support to take over 500km long (311 mile) I-80 and other major free interstates - the feds permitting.
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Corzine received $30 billion proposal for "monetization" of NJ Turnpike with management contract
Posted Mon, 2007-07-16 21:20
Mid-February the Director of the Office of Public Finance in New Jersey, Nancy Feldman received a 15 page proposal from a major financial group offering to raise around $30 billion from the New Jersey Turnpike (and its subsidiary Garden State Parkway) based on the state retaining the business, and being in control. 2347 words read more »
NJ Turnpike won't be sold or leased - Corzine outlines eight principles for monetization
Posted Fri, 2007-06-29 06:04
Reacting to constant politicking over what is planned for the future of the state's beloved Turnpike, New Jersey Governor Jon Corzine said his planned "monetization" does not involve either sale or lease. However he said that the state has amassed over $30b in debt and has "staggering" unfunded pension and healthcare liabilities.
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