President of Purdue University Receives National Public-Private Partnership Award
WASHINGTON, DC Purdue University President Mitch Daniels has been recognized as a model of excellence in innovative transportation financing by the American Road & Transportation Builders Association (ARTBA).
P3 Entrepreneur of the Year: Given to an individual who has made outstanding contributions to the forward progress of P3s in the U.S. transportation industry.
Mitch Daniels, as the two-term former governor of Indiana, procured and reached an agreement in 2006 on a 75-year lease for the 157-mile-long Indiana Toll Road in a deal that brought nearly $4 billion to the state. He was also instrumental in negotiating an agreement on the Louisville-Southern Indiana Ohio River Bridges Projecta $2.5 billion project that will see the construction of two major bridges and the highways that connect them.
At Purdue, Daniels has played a key leadership role in helping establish the city of West Lafayette, Indiana, and Purdue University Joint Board as the partnership body for all aspects of the procurement and financing of the State Street Redevelopment Project. It will revamp a major thoroughfare through downtown West Lafayette and Purdue University with a focus on better connecting the two communities.
The design-build-finance-maintain P3 seeks to modify traffic patterns on State Street through the university's campus. It will promote multimodal travel features, including bike paths and pedestrian walkways, with the goal of enhancing safety for pedestrians, cyclists and drivers throughout the school and West Lafayette. The project is the first U.S. availability payment P3 project to be procured by a university, and the first to reach financial close where the consortium's bid included a privately placed bond with fixed credit spreads.