Albert E. Dotson, Jr. | JDSupra Business Advisor
With plans to reduce Biscayne Boulevard to fewer lanes to allow for the creation of a promenade and bicycle lanes in Downtown Miami, some are arguing that the need for public transportation options cannot be clearer.
The drivers in Miami-Dade are in desperate need of public transportation options that will reduce commute times, improve quality of life issues, and support economic development growth. The recurring gridlock that even visitors (such as those who are in town during Art Basel) have to expect, could be an essential element in allowing Miami-Dade to be able to sell the idea of public private partnerships (“P3″) for transportation projects to private investors.
The frustrations created by the congestion that Miami’s heavy traffic causes can be converted into the cash flow stream that is key to a successful P3 and that would allow the local government to successfully “sell” the idea to the private sector. The opportunity currently exists to recapitalize Miami’s infrastructure using a P3 that offers expanded options for mass transit and incorporates modern design and innovative operational techniques. Miami has one-of-a kind potential to attract investment. Given the alternative, Miami residents and visitors may elect to forgo their cars and provide the strong ridership that investors will consider when judging the ability of a mass transit P3 to generate stable and predictable revenues. Read more