Transportation experts believe the state has it, and they aren't sure the local expressway authority has the ability to raise it.

That could put the Florida's Turnpike Enterprise in the best position to finish the troubled elevated highway project on the Lee Roy Selmon Expressway.

``The state can issue debt at [a] lower interest rate and pass that savings on to their customers,'' said Gary Brosch, a researcher with the Center for Urban Transportation Research at the University of South Florida. ``The financial issue could be the final trump card.''

Proponents of local expressway authorities say they provide local control and keep the revenue at home. Those favoring state control point to the turnpike's experience and financial capacity.

``When you are in good financial condition, you can debate which is the better way to do it,'' Brosch said. ``But when you are in financial trouble, you have too look for friends.''

State leaders have given the Tampa-Hillsborough County Expressway Authority until the end of November to prove it has the financial and engineering ability to salvage the project or face extinction.

The project has been plagued by sinking piers and flawed foundations.

State officials and other transportation experts question whether the authority can afford to make the repairs and still repay more than $150 million in state loans that will come due in June.

``The Turnpike Enterprise certainly has the deeper pockets and would get a much more advantageous interest rate,'' said Doug Callaway, president of Floridians for Better Transportation, a business and transportation advocacy group.

Work on the elevated lanes has been stopped since July, when a second foundation sank. Subsequent soil testing indicated that many of the 224 foundations might need repairs. Officials figure the delay is costing as much as $100,000 per day, and repair costs could reach $68.5 million.

The problems have cost ridership, shaken public confidence and spurred the authority to fire Pat McCue as its executive director this week.

The continuing delays and uncertain repair costs trouble state officials.

Legislators and officials with the governor's office and the Florida Department of Transportation spent the past month analyzing the project, concluding the authority will be hard-pressed to repay the loans on time.

The loans account for 2.5 percent of the $5.98 billion the FDOT wants for its budget in the fiscal year beginning July 1.

Incoming Florida Senate President Tom Lee, R-Brandon, said he and others are preparing contingencies should the authority fail to satisfy their concerns. Possibilities include abolishing the authority in a special legislative session in December and turning the project over to the Florida's Turnpike Enterprise, a subsidiary of FDOT that runs the state's toll roads.

It wouldn't be the first time the Turnpike Enterprise rescued the Expressway Authority.

The authority began the planning and environmental work for the Veterans Expressway. The Turnpike designed it, built it and operates it.

Martin Stone, the local authority's planning director, said the Veterans shows advantages of the local authority working with the state.

``The Turnpike Enterprise certainly has more funding capability,'' he said. ``We have the local knowledge, a better understanding of local needs and the things that make each community unique.''

Mike Snyder, executive director of the Orlando-Orange County Expressway Authority, said local expressway authorities serve a unique role and work best in conjunction with other agencies.

In the next five years, the Orlando authority plans to spend $1.4 billion on projects, more than the amount spent in the area by the state or federal government.

Besides losing local control, another possible drawback of turning over the project would be the loss of future revenue. Tolls would go into a statewide pot.

``In the short run, the Turnpike Enterprise seems like a good option,'' Callaway said. ``The only drawback is that when the project starts generating profits, they will be sent elsewhere.''

Lee said that loss of money would be minimal and more than offset by the Turnpike Enterprise's ability to finish the project.

Callaway said motorists don't care who oversees construction.

``The public just wants to know if a road is going to get them where they want to go and how much is it going to cost,'' he said. ``People don't care, probably can't even notice, if they are driving on a state, county or city road.''

Reporter Tom Brennan can be reached at (813) 657-4528.