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19 December 2008
Florida's first three PPP concessions have all suffered from the crunch, and its DOT wants to drop one of them. Will the Sunshine State keep its faith in PPP? Catherine McGuirk reports from Miami.
Over the past year, Florida's PPP and infrastructure programme has showed more promise than any other state, with three projects in various stages of procurement, and a pipeline of new projects in the works. However, despite optimism from some parts of government and from the private sector, no deal has yet reached financial close, and each has encountered a series of obstacles.
Some challenges are not exclusive to Florida transportation development: the ubiquitous difficulties in the debt markets and the associated fallouts from the credit crunch are at the forefront of concern for projects across the nation and beyond. But the slowness of the state- and municipal-level decision-making, and the time-consuming processes involved in using federal funding support programmes, have both had an impact on Florida's developments.
The state has three major transportation projects, at various stages in the procurement process; the forthcoming lease of Alligator Alley, the Port of...
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