US Transportation Sec. Peters likes Turnpike lease deal

US Secretary of Transportation Mary Peters expressed support for the Pennsylvania Turnpike lease deal on the department’s blog. Toll Roads News has the coverage.

Peters notes: “If the transaction is approved by the Pennsylvania Legislature, the operator would be subject to some of the most rigorous performance requirements of any road in the United States, rigid constraints on their ability to raise tolls, and a requirement to invest billions of dollars in the facility. “

Not all of these facts are being reported accurately. Read our FAQs on a Turnpike lease for more of information. Len Gilroy also offers some interesting tidbits on provisions in the lease agreement.