With a design-build-finance-operate-maintain (DBFOM) approach, the responsibilities for designing, building, financing and operating are bundled together and transferred to private sector partners. There is a great deal of variety in DBFOM arrangements in the United States, and especially the degree to which financial responsibilities are actually transferred to the private sector. One commonality that cuts across all DBFOM projects is that they are either partly or wholly financed by debt leveraging revenue streams dedicated to the project. In the case of the Portsmouth Bypass project, Availability Payments will be utilized.
The Portsmouth Bypass is a four-lane, divided, limited-access highway around the City of Portsmouth in Scioto County, Ohio. The highway, to be designated State Route 823 (SR 823), is known as the Portsmouth Bypass and will comprise 16 miles of four lane divided highway, bypassing approximately 26 miles of US 52 and US 23 through Portsmouth.
The project will improve travel and regional mobility, avoiding significant numbers of traffic signals, intersections, and driveways over the current 26 mile route using US 52 and US 23. The proposed 16-mile new route is estimated to provide travel time savings of up to 16 minutes per trip over the current route using US 23 and US 52. The large number of access points and traffic signals currently compromise US 23/US 52’s ability to safely and efficiently serve its intended function of a primary arterial.
ODOT evaluated the use of a P3 procurement approach and compared this to a traditional Design-Bid-Build approach. The evaluation indicated that there is value in using a DBFOM procurement.