On Feb. 9 , the US Department of Transportation rejected a state request to borrow $378 million to help fund the $1.2 billion Knik Arm Bridge. Rationale for the rejection was “excessive risk” and concern that the proposed $5 toll would not generate enough revenue to pay back the loan in the decades to come.
This bridge is one of the bridges that Sarah Palin helped kill a decade ago during the “bridge to nowhere” controversy. Senator Ted Stevens had earmarked the money. It was passed, appropriated. Sarah rejected it, opting instead to grandstand about public spending.
I expect the loan would have been guaranteed had Alaska elected a democrat to congress. No democrats? Screw you from the Obama regime.
The bridge project director sat on the letter for a month before making it public. Sounds like they need a new director.
Anti-bridge activists seized on the letter and it’s mishandling as yet another excuse to kill the hated project outright. The bridge project claims they are not yet complete with all their filing and request paperwork.
Kick this can down the road for another year and I expect they will get a much more receptive administration in office.
Alex Gimarc lives in Anchorage since retiring from the military in 1997. His interests include science and technology, environment, energy, economics, military affairs, fishing and disabilities policies. His weekly column “Interesting Items” is a summary of news stories with substantive Alaska-themed topics. He is a small business owner and Information Technology professional.
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