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Ohio Eyes $300M Public-Private Deal For Bridge Project

Law360, New York (August 24, 2012, 2:00 PM EDT) -- Ohio Gov. John Kasich on Thursday announced plans for a public-private partnership to help push along a $332 million bridge reconstruction project in Cleveland that has stalled out after funding shortfalls.

Under the new financing plan, contractors will offer up more than $300 million to back the design and construction of the second major phase of the Innerbelt Bridge reconstruction project. Then, the cash-strapped Ohio Department of Transportation will pay back the contractors over a fixed period of time from 2016 to 2018, according to the...
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