Public-private Construction
The highway was built without the use of toll revenue bonds through an innovative public-private partnership. Though the road had been planned for many years, sufficient state and federal construction funds were not available when the road was finally desired. In 1995, the Virginia General Assembly passed the Public-Private Transportation Act allowing private entities to propose innovative solutions for designing, constructing, financing and operating transportation improvements. An acceptable proposal was submitted jointly by Fluor Daniel and Morrison Knudsen, and an agreement was reached.
Read more about this topic: Virginia State Route 895
Famous quotes containing the word construction:
“When the leaders choose to make themselves bidders at an auction of popularity, their talents, in the construction of the state, will be of no service. They will become flatterers instead of legislators; the instruments, not the guides, of the people.”
—Edmund Burke (1729–1797)