The Louisiana Department of Transportation and Development (LDOTD) has issued a request for information (RFI) to “accelerate major enhancements” on the I-10 Capital Corridor via a public-private partnership (P3).
Last year, the state legislature changed a state law that allows the agency to solicit P3s. This is the first time the state has “seriously pursued such a partnership for infrastructure.”
“This is a first step in positioning the State to leverage private sector resources in delivering major enhancements to the I-10 Capital Corridor,” says Gov. John Bel Edwards. “We aren’t likely to have the revenue needed to make a P3 work for the entire corridor today, but we will be ready to advance such a partnership if the legislature acts in a meaningful way to fund transportation during the upcoming Regular Session. That is my commitment to the people of Louisiana.”
LDOTD says the RFI is open until March 31, but that the state isn’t “obligated to pursue a solicitation or otherwise enter into a P3 due to issuance of the RFI” and that the products included it in can “advance” while being considered. The documentation for the RFI is available here.
“Private investors have their eyes on Louisiana and are eager to invest here,” says LDOTD Secretary Shawn Wilson. “If we have the funding, I am confident that P3s can work in Louisiana. When handled responsibly, the benefit of these agreements is that more projects can be delivered sooner and that is what we want to provide to the people of Louisiana.”