Is MDOT's P3 Power Grab Dead Now
Why no one does the simple math and cannot figure out that a loan at 5% is cheaper than a P3 at a rate of return at between 13-20% is beyond me to be honest.
Why no one can understand that a grab for taxing power by the Michigan Executive, because that is what paying back a P3 really is, and ignoring the Legislature is bad politics is beyond me.
Why people are applauding a move by Canada to get votes to pass P3 legislation in Michigan, and to have a Minister of the Canadian Government admit it too to "make it happen," is beyond my comprehension.
Why no one is asking the obvious question about why anyone would support a P3 with all of these negatives and with a rip-off of taxpayers is shocking.
Here is the conclusion from a letter from the Michigan Attorney General's Office in Lansing
I do not see then how the proposed P3 Bill can allow the Executive to fund a P3 road or DRIC Bridge. It MUST go through the Legislature with Legislative oversight
Here is the Press Release from the State Representative Paul Opsommer who asked the question:
Nice try MDOT but no cigar.