Missouri's Bridge Plan Could Guide Nation
"Missouri is moving forward with a novel plan to fix or replace more than 800 of the state's bridges within five years."
"Missouri's plan has a team of contractors financing the $400 million to $600 million in repairs and maintaining the bridges for another quarter century. In turn, the Show-Me State will use a portion of its federal bridge funds to pay back the companies over 25 years."
"Already in the works before the Minnesota tragedy, the Missouri plan is now being touted as a model for the rest of the nation."
"In addition to getting a lot of bridges fixed in a short time, Missouri's approach has a short-term political benefit. Lawmakers don't have to sell the public on the need for higher gasoline taxes or new tolls - proposals that have stopped transportation funding packages in other places, including Minnesota and Pennsylvania."
"Missouri's plan also appealed to contractors who could recoup as much as twice their construction costs as the state repays the companies over the 25 years."