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DiNapoli: Public-Private Deals Could Save Billions

NYS Comptroller Thomas DiNapoli (credit: CBS 2)

NYS Comptroller Thomas DiNapoli (credit: CBS 2)

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ALBANY, N.Y. (AP) — State Comptroller Thomas DiNapoli warns that New York’s expected use of partnerships with private companies to sell or lease state assets has many pitfalls.

But he urges the state to consider public-private partnerships to deal with what he says are $250 billion in infrastructure needs over the next 20 years.

In other states, those partnerships have included leasing bridges for a large lump sum. The private company then sets and collects tolls and is responsible for maintenance.

DiNapoli warns in a report Monday that one of the concerns in such arrangements is unreasonable increases in tolls and fees.

Legislators have said the state will seriously consider the deals this year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)