NCDOT Announces Winning HOT Lane Bidder…Drivers Lose
HOT lanes, in real life.
Despite significant public opposition to the proposed construction of High Occupancy Toll lanes (HOT lanes) in Northern Mecklenburg and Southern Iredell Counties, the Department of Transportation announced today that it has accepted a bid for the project from Cintra Infrastructures.
From the NCDOT Release:
The N.C. Department of Transportation announces the apparent successful bidder for its first Public-Private-Partnership (P3) contract to improve the traffic flow along 26 miles of I-77 in the Charlotte area, one of the most congested roadways in the state.
P3 contracts are an innovative way of leveraging new funding sources to lessen the financial impact to the state and help complete projects sooner through investments by a private firm. Following a required bidding process, and pending final review, it appears Cintra Infraestructures, S.A. will construct the I-77 project through a joint venture with F.A. Southeast, W.C. English, and the lead design firm of The Louis Berger Group.
Cintra, a world-wide leader in managed lanes projects, estimates the total project cost at $655 million. Cintra will invest the majority of that in return for toll revenue generated from the managed lanes. NCDOT will contribute $88 million for the project, which is significantly less than the $170 million it had projected.
The agreement is expected to be signed in June, with construction beginning as early as this December. The project is expected to be complete in 2018.
“We are excited to take this significant step forward and address a critical need,” said NCDOT Chief Engineer Mike Holder. “Innovative funding solutions like this one are vital to keep up with growth and infrastructure needed to strengthen the economy despite declining transportation revenue from traditional sources.”
The price of the overall project has seemingly already risen by $100 million, to $655 from the original estimated $555 million. It will come as no surprise when this number continues to rise.
So called “managed lanes” involve giving public money to private, for profit, companies to build lanes that only those willing to pay to drive on have the opportunity to do so, while ensuring congestion in the remaining general purpose lanes.
Across the country, they don’t exactly have a stellar track record.
According to news reports, Virginia’s new HOT lanes on Washington, D.C.’s Beltway lost $11.3 million in their first six weeks, Houston’s I-45 and U.S. 59 express lanes haven’t covered their costs, and Atlanta’s I-85 tolls fell short of the lowest fiscal forecasts. The most egregious offender may be SR-167 in metro Seattle, whose actual earnings fall consistently and astonishingly below revenue expectations.
Now, North Carolina can be added to the list. Only time will tell how much money the taxpayers will be on the hook for….for a project that won’t benefit the transportation environment in Char-Meck.
We’ll continue to research this and get a look at the final contract. We’re sure it will be a frightening read.
The NCDOT also announced a plan to add 4 lanes on I-85 from NC73 up to Rowan county at a cost to taxpayers of $187 million.
But Kurt, we’re oh so broke! We can’t afford it! It’s HOT lanes or nothing for 30 years!
Folks, this is what Tillis does to his own constituents…don’t you just want to send him to DC to “represent” you too?
I wonder how much Thom Tillis’ campaign, or the secret Super Pacs that support his campaign, got from the ‘winning’ bidder? I’m thinking if the FBI showed up at his house they would find some containers full of cash.
All of this can be resolved by spending the money on HOT Rail.
Zeppelins. Mass Transit Zeppelins will solve all our traffic problems. Now give me $3 million for my study.
Damn straight! Imagine cruising from Charlotte to Mooresville at 200 feet. Think of the views! Think of the trees we’d save not building roads! LOL!
We joke, but I actually read a few years ago about a new balloon technology that can actually traverse great distance at a comfortable speed for relatively cheap. Vertical takeoff and landing also increases the ability to fly in where a conventional airport would cost too much money.
Think of all the retail opportunities for developers of Central City High Rise apartments if there was a blimp station on the roof! Who needs a trolley or light rail.
Perfect business Plan
1. Build Blimps
2. ???
3. Profit
How can a few people impose their will on the entire area? How can this be stopped?
One more reason to leave Mecklenburg to the liberal democrats that haven’t see a public project that don’t want to “invest” tax payer dollars in.
Don’t bother posting to this site if you leave. Criticism by outsiders is unwarranted and ignored.
Blog rules according to Zon “You can’t post here unless he likes what you post, or you live where he approves of or, (insert some liberal/whiner rule here)”
I own the site and hereby decree that everyone’s opinion is valid regardless of residency. Of course, I am biased. 🙂
[…] the winning bid for the soon to be constructed HOT lanes in North Mecklenburg. Read more HERE. Please continue to contact your elected State Representatives and express how bad this is. […]
[…] reported last week, the locally reviled HOT lane proposal on I-77 in North Mecklenburg and South Iredell is […]