Pay For Success Initiative Could Tackle Big Issues
(WHBC) – Ohio Treasurer Robert Sprague was on with Canton’s Morning News to talk about the new ResultsOHIO initiative, which engages the private sector to tackle challenges the state is facing.
He says private entities would bear the upfront costs of the projects, and public dollars would be used to reimburse the entity only if the project is successful.
“It’s a way to take the guesswork out of funding government programs, and the great part is the state only pays for the things that work.”
He says some of the issues that could be addressed include infant mortality, addiction services and water quality.
Sprague says an impartial third party would measure the results.
“Either, yes, they’ve been achieved and we buy back the bond, or no the results have not been achieved and the state is not paying. And that’s a critical part of this. We’re only paying for results.”
Bills are being carried in the House and Senate to approve the funding for the initiative.
@OhioTreasurer Robert Sprague #ResultsOhio #PayForSuccess
Posted by News-Talk 1480 WHBC on Thursday, April 4, 2019