Rendell shares Turnpike bid info with legislative leaders

Governor Rendell announced he has provided the expressions of interest regarding a potential Turnpike lease to legislative leaders, on the grounds they not be made public until a lease agreement is reached.

Of the 52 “expressions of interest”:

• 16 were submitted by potential bidders;
• 22 were submitted by investment banks and consulting firms seeking to provide financial advisory services;
• 8 were submitted by transportation engineering firms seeking to provide technical advisory and/or operations management services; and
• 6 weresubmitted by law firms seeking to provide legal advisory services.

Many legislators were pointing to the Governor’s refusal to share these documents (and thus not know what a lease may entail) as a reason not to go ahead with legislation that would authorize formal bidding on a lease. Hopefully this will help move the process along.