This chapter is a case study on the Highway 407 in Toronto. Highway 407 was a significant breakthrough for public–private partnerships (PPPs) in North America and has become the catalyst for the development of such partnerships in Canada and the United States. The road was built in a very efficient and timely manner and incorporated state‐of‐the‐art toll road technology. Despite early operational problems, the road continues to experience steady growth in traffic, exceeding all traffic demand forecasts. The province's experience with 407 continues to provide a cautionary tale, however, for the development of PPP projects. Some new concession agreements in the United States and Canada have addressed some of the concerns raised by 407 and are incorporating formula‐based toll regimes, shorter concession periods and, in some cases, revenue sharing with the concessionaire.
Toronto's Highway 407
The Handbook of Municipal Bonds ; 1185-1193
2012-01-02
7 pages
Article/Chapter (Book)
Electronic Resource
English
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