Enter into any agreement or any configuration of agreements relating to transportation projects with any private entity or unit of government or any configuration of private entities and units of government. The subject of agreements entered into under this section may include, but need not be limited to, planning, acquisition, financing, development, design, construction, reconstruction, replacement, improvement, maintenance, management, repair, leasing and operation of transportation projects.
Include in any agreement entered into under this section any financing mechanisms, including but not limited to the imposition and collection of franchise fees or user fees and the development or use of other revenue sources.
The agreements among the public and private sector partners entered into under this section must specify at least the following:
At what point in the transportation project public and private sector partners will enter the project and which partners will assume responsibility for specific project elements;
How the partners will share management of the risks of the project;
How the partners will share the costs of development of the project;
How the partners will allocate financial responsibility for cost overruns;
The penalties for nonperformance;
The incentives for performance;
The accounting and auditing standards to be used to evaluate work on the project; and
Whether the project is consistent with the plan developed by the Oregon Transportation Commission under ORS 184.617 (Functions of commission) and any applicable regional transportation plans or local transportation system programs and, if not consistent, how and when the project will become consistent with applicable plans and programs.
The department may, either separately or in combination with any other unit of government, enter into working agreements, coordination agreements or similar implementation agreements to carry out the joint implementation of any transportation project selected under ORS 367.804 (Goals of Oregon Innovative Partnerships Program).
(a) The department may not enter into an agreement under this section until the agreement is reviewed and approved by the Oregon Transportation Commission.
The department may not enter into, and the commission may not approve, an agreement under this section for the construction of a public improvement as part of a transportation project unless the agreement provides for bonding, financial guarantees, deposits or the posting of other security to secure the payment of laborers, subcontractors and suppliers who perform work or provide materials as part of the project.
Before presenting an agreement to the commission for approval under this subsection, the department must consider whether to implement procedures to promote competition among subcontractors for any subcontracts to be let in connection with the transportation project. As part of its request for approval of the agreement, the department shall report in writing to the commission its conclusions regarding the appropriateness of implementing such procedures.