I am speaking of the The Knik Arm Crossing Project. Guess where it is located. I’ll give some clues.
KABATA’s goal is to construct a cost-affordable, vehicular toll bridge of about 2.7 miles across Knik Arm. Because there are no roads in the area served by the bridge, the project involves the construction of 19 miles of road to support the bridge’s accessibility. The purpose of this project is to build a bridge to fulfill the following needs:
• An efficient link between the operations and infrastructure of the two ports;
• An alternate north-south emergency response and disaster evacuation route;
• Transportation infrastructure for existing and projected population and economic growth.
Who will pay for this? You will. I will. And locals will.
Construction Cost: Roughly estimated at $650-700 million to come from congressional appropriations (TEA-LU), state and local grants, and public and private sector investment, including KABATA revenue bonds with user fees.
Will you get some of the revenues generated by the bridge? Quoting Nancy Pelosi: “Are you serious?”
How much money in toll revenues would fund a $700 million bridge at (say) 6%, plus pay for upkeep?
A lot more than the bridge will generate. This is why the governments must fund it.
To find out where the bridge is located, click the link.