Opinion: Stop the privatization of U.S. 36
Building the U.S. 36 HOV lane is important, but the privatization approach is a huge mistake. CDOT is setting up a no-win situation: the goals of private business are to maximize revenues (from tolls); to minimize costs (on snow removal and maintenance); to limit risk (by financing its investment by selling bonds, and thus reduce its exposure); and to avoid downsides (by eliminating free HOV2, and obstructing innovation that might reduce toll revenues). The public’s goals are exactly the opposite. This arrangement is nothing like a multi-year lease for a restaurant, where the terms are pretty standard, good deals can be struck because competition is strong, and the leased space is not a critical public asset. This is a one-time 50-year no-exit monopoly on essential infrastructure. Worse, the concessionaire is collecting tolls on one lane but doing the maintenance on all lanes, creating an inherent conflict. With a 600-page Concession Agreement plus numerous side agreements (guarant...