Nonprofit would operate toll roads
Source: By LARRY HIGGS, Gannett News (NJ), Wednesday, January 9, 2008
Experts are calling Gov. Corzine's plan to borrow against future toll increases as a privatization plan with the state's proposed Public Benefit Corporation taking the place of a private company.
"All he did was substitute "Public Benefit Corporation' for "private owner,' " said Jon Peters, professor of finance at the College of Staten Island, who has studied toll roads and monetization deals in other states. "The question is how much burden is being placed on the road user to pay off the debt."
........ A major difference with other monetization deals is that the state continues to own the toll roads, Corzine said. He stressed they will not be sold or leased to a private company.