Bidders to Lease Turnpike Get Time to Generate Final Offer
By Chris Forshey
May 13, 2008, 07:53
Governor Ed Rendell says he's happy with the bids for a 75-year lease of the Pennsylvania Turnpike.
He says they're not as high as would have been expected nine months ago, when business conditions were better, but they're good for present times.
Preliminary bids came in so close to each other that at least some of the bidders have been given five more days to sweeten the pot. Rendell says the highest bid that came in by Friday's deadline and all other bids that were at least 90-percent of that have until the end of the week to submit a best and final offer.
Rendell isn't saying how high the initial bids were or how many bidders qualify for additional time. Rendell wants to use the money to fix roads and bridges and to subsidize mass transit.
