Common Contracts
2 similar Public/Private Partnership Agreement contracts
The Shellpot Bridge: A Public/Private Partnership That WorkedPublic/Private Partnership Agreement • March 13th, 2008
The Shellpot Bridge is a 536-foot swing bridge located on a rail freight bypass route around Wilmington, Delaware. When the bridge failed in 1994, Conrail, then the bridge’s owner, elected not to repair it due to declining freight volume. The State of Delaware reached agreement with the new rail owner, Norfolk Southern Corporation, to provide funds to repair the bridge, with the railroad to pay tolls to repay the state’s investment. Recent volumes of traffic over the bridge indicate that, if traffic continues at its current level, Delaware will realize an annual return of 9.75% on its investment.
The Shellpot Bridge: A Public/Private Partnership That WorkedPublic/Private Partnership Agreement • March 13th, 2008
The Shellpot Bridge is a 536-foot swing bridge located on a rail freight bypass route around Wilmington, Delaware. When the bridge failed in 1994, Conrail, then the bridge’s owner, elected not to repair it due to declining freight volume. The State of Delaware reached agreement with the new rail owner, Norfolk Southern Corporation, to provide funds to repair the bridge, with the railroad to pay tolls to repay the state’s investment. Recent volumes of traffic over the bridge indicate that, if traffic continues at its current level, Delaware will realize an annual return of 9.75% on its investment.
