PATCO Examining Feasability of Speedline Sale
CAMDEN, NJ (CBS) - Officials at the Delaware River Port Authority expect to know for sure within a month whether suggestions to privatize or sell the PATCO high-speed line are worth pursuing.
Board members instructed top managers to look into the idea at the suggestion of commissioner John Dougherty, who has been pushing the plan for months.
DRPA chief executive officer John Matheussen says they have met or soon will meet with experts within academia and government.
“The board had requested that we do this informally which is what we’re doing right now,” he told KYW Newsradio on Wednesday. “We’ve reached out to a couple of organizations who’ve had some experience in this or they’ve reached out to us, and we’re having some informal conversations as to the likelihood of progressing further.”
The general consensus is it will go nowhere. PATCO does not make a profit, so it’s unlikely to be a hot item for sale.
As for privatization, it’s thought that any move on that front could dramatically increase fares, and there’s no support on the board for that.
It’s expected that these informal discussions will conclude by this time next month, at the latest.
Reported by David Madden, KYW Newsradio 1060.