Kasich Still Considering Turnpike Privatization

The Blade:

A section in Governor Kasich's budget proposal would authorize the directors of ODOT and the state Office of Management and Budget to negotiate and enter into a turnpike lease with a private party. No specific private party is named, and Mr. Wray said there have been overtures from several potential bidders for a turnpike concession, if one became available.
While a $3 billion revenue target has come up in discussion, the ODOT director said there is no firm amount for which the turnpike might be leased. He was adamant, however, that the administration is not interested in a lump-sum lease like Indiana's and said the 75-year term Indiana agreed to is too long "in my personal opinion."
Another possibility, he said, is making the turnpike a unit of the Ohio Department of Transportation, rather than maintaining the separate Ohio Turnpike Commission.
If the turnpike were to be leased, the request-for-proposal process could take anywhere from six to 18 months to complete, the ODOT director said.
Mr. Wray pledged that proceeds from any lease would be dedicated to infrastructure improvements such as highway construction and harbor dredging and would focus on northern Ohio, through which the turnpike runs.

I still think it is a bad idea.  At least he must understand where the tolls go now.  If the state brings in a certain amount of income on the turnpike, and they aren't going to allow the bidders to increase tolls much, where does the private company's profit come from?  Won't that just lower the amount of up-front money the state gets?