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Local News Story
Perdue unveils new 485 plan
CHARLOTTE, 11.09.2009
CHRIS MILLER, WBT NEWS
Gov. Bev Perdue holds a news conference announcing her plan for completing I-485 ahead of schedule |
A promise that has had tongues wagging for almost a year now has a financing plan to go with it.
Governor Bev Perdue Monday unveiled a road map for completing Charlotte's outerbelt ahead of schedule, keeping a promise she made during her first few weeks in office.
"We're gonna do more for less and we're gonna do it faster," Perdue said during a morning news conference at I-485's current endpoint near Huntersville.
Key to the plan is a public-private partnership that Perdue said had never been attempted in North Carolina.
Contractors would put $50 million toward the final five miles of the interstate and an interchange at I-85 in Cabarrus County.
Those contractors would be repaid with interest over ten years, state Transportation Secretary Gene Conti said.
The incentive for those contractors, Conti said, was to take advantage of cheaper construction costs.
Meantime, the state would use close to $300 million in Highway Trust Fund dollars and federal bonds.
"This new plan saves time, saves money, creates jobs and proves North Carolina can and will develop new solutions," Perdue said.
Using this approach, Perdue said the state would save $50 million to $100 million, while construction would begin late next year - four years ahead of schedule. This new timeline sets the new target for completion in 2014.
Comments
czyganka
Nov 12, 2009
Did Perdue get into the 'Wildflower Weed'?
krodden
Nov 10, 2009
The politicians are puppets !!
Grandmommy1
Nov 10, 2009
Where are we getting the money to pay the contractors back!!?? We can hardly pay for the every day expenses now. We don't eat out, bring lunch to work, gas is high, what more can they expect from taxpayers!! We are all going to be homeless before long, forget about insurance.
Lord Bartlett
Nov 10, 2009
Did this happen suddenly, over night or did she wait until after the election to bring this idea to the public? Funny how there were no leaks, not anything at all. Wow! What great Govenor! Let's re-elect her now........
peter marvin
Nov 10, 2009
I find it funny that there was no way until a democrate was put in office strictly political you think?
Richard52
Nov 9, 2009
So the govenor's solution is to borrow more money? Forget about the odd fact that she wants to borrow from contractors instead of banks for a moment - the answer is more more debt? Don't our childrem have enough to pay already?
Dale4Freedom
Nov 9, 2009
I agree with trucker490 - Obama with a Dress! She is nuts!
trucker490
Nov 9, 2009
obama with a dress on
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