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DOT describes Portsmouth/Dover park‑and‑ride public‑private leases, seeks dedicated sustainment funds
Summary
DOT told the Finance Division II committee it has leased the Portsmouth and Dover park‑and‑ride facilities to a private operator under long‑term P3 contracts and is seeking statutory authority to hold contract revenue in dedicated sustainment and restricted accounts.
The New Hampshire Department of Transportation described a recent public‑private partnership (P3) arrangement for the Portsmouth and Dover park‑and‑ride facilities and asked the Finance Division II committee to authorize dedicated accounts to track and hold contract revenue that is restricted by federal purchasing rules and by the contract.
What DOT presented: DOT said it issued a long‑term (35‑year) lease to a private operator (identified in testimony as Jalbert Leasing, doing business as C & J Bus) to operate the Portsmouth and Dover park‑and‑ride facilities. DOT said the vendor will pay a base rent and a share (described in the presentation as a percentage of gross parking revenue) and will operate and maintain the facilities under contract. The vendor has already…
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