On Thursday the 11th they meet to look at "funding" and we should probably adjust our expectations. (Agenda here.)
Latest schedule delay - out to at least May 2016 from Dec 2014 Funding Workshop Presentation |
No evidence |
Partisans for the bridge are able to cite very little in the way of facts or evidence, and instead cite a priori commitments, as well as feelings of being neglected. (The "second-class" nature of investment and facilities at WSHS, Straub MS, and Kalapuya Elementary would surprise many, I think!)
Original schedule from 2006 had Record of Decision in early-2009! |
About December's funding workshop, a Task Force member tweets:
This is *exactly* where we were 7 yrs ago at the 1st/last funding workshop re third vehicular bridge. #Boondoggle
http://t.co/xC2h4O4RK0
— Darlene Strozut (@Enstone) December 5, 2014
As everybody already knew, taxes and fees aren't very popular, and the least unpopular things don't generate enough to pay the projected debt service. It will be very interesting to see if the opinions from the funding workshops actually generate novel solutions.Probably it just boils down to Magic Funding Fairy Dust.
(And so we circle round in a kind of Ouroboric Boondoggularity. From a largely "no new taxes" perspective, N3B has much more on the absurdity.)
Existing barriers in red will be exacerbated, not solved by a new bridge |
Since the project itself will in general harm system connectivity for people on foot and on bike, it is almost certain these will be cosmetic at best.
The Oversight Team meets at 11am on Thursday the 11th at 100 High St. SE, Suite 200, above Bar Andaluz and Table Five 08.
Postscript
Oh yeah...earthquake! "Oregon is so far behind..." We need to reinforce the existing bridges first.
So far behind |
Couple more items...
Remember the study commissioned on the CRC by the State Treasurer, Ted Wheeler?
It recommend assuming the "projected annual gross toll revenues will be somewhere between 15% to 25% lower than the baseline forecast..."
And, son of a gun, the SR 520 bridge has a 30% reduction in traffic volumes (and presumably a corresponding reduction in revenues)!
Tolls by themselves would solve our congestion problems without building a new bridge and highway Funding workshop presentation |
Little, if any, empirical data supports this assumption.
What kind of "oversight" is that?
2 comments:
Added a couple of bits this afternoon and evening.
And here's a Wall Street Journal piece on private toll infrastructure and bankruptcies.
"The Beach Express bridge, in Orange Beach, Ala., served 2.3 million vehicles last year. Its owner, American Roads LLC, couldn't meet debt obligations and filed for Chapter 11 bankruptcy protection this July."
-and-
"Many investors paid too much, based on the notion that tolls provided a reliable income stream and that toll revenue would only increase as Americans drove more miles."
There's a consistent pattern of over-estimating trip counts and therefore toll revenues.
I think there are also international examples as well as less dramatic failures of "mere" underperformance instead of utter bankruptcy.
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