A bill to allow public-private partnerships in Kentucky and necessary to develop the Brent Spence Bridge replacement and refurbishment project through a P3 model, has cleared its first legislative hurdle.
House Bill 407 passed out of the House budget committee and is now headed to the House floor for a vote, possibly as soon as this week. The bill would establish statewide guidelines for P3s allowing a private companies to construct, finance or operate public projects.
The Brent Spence Bridge replacement and refurbishment is a priority of the Kentucky Transportation Cabinet (KYTC) and state government officials have said an RFQ could be released this year 2014 if a public-private partnership financing model is finally chosen.
More than 170,000 vehicles cross the bridge each day. The structure is considered functionally obsolete in part because of a lack of a shoulder and smaller than standard lanes. The Brent Spence Bridge replacement and refurbishment project cost is estimated at US$2.7 billion.
Construction could begin as early as 2015 if the current schedule continues to be met. In April 2013, twenty three companies, or teams of companies, responded to an Ohio Department of Transportation inquiry designed to gauge private-sector interest in the project.