Kasich won’t seek to lease Ohio Turnpike

Kasich won’t seek to lease Ohio Turnpike

Gov. John Kasich has made it official: the state has decided not to lease the Ohio Turnpike.

Instead, the turnpike would issue bonds backed by future toll revenue and use that money to build critical transportation projects mostly in northern Ohio, he said in Toledo today.

Kasich, a Republican, will be in Austintown later today to discuss the decision.

The state will borrow money against future toll revenues that Kasich said will reduce the state’s $1.6 billion highway budget deficit and provide money to build roads and bridges.

The program also keeps tolls lower than they likely would have been under a lease program, he said. The program calls for freezing some local tolls and limiting future toll increases to less than what they have been in the past, Kasich said.

The Ohio Democratic Party criticized the plan saying that Kasich’s proposal threatens jobs and communities along the turnpike for partisan political gain.

For the complete story, read Friday’s Vindicator and Vindy.com

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