Incomplete projects proposed in the Transportation Infrastructure Model for Economic Development plan have saddled Louisiana with increasing debt and less money for maintenance.
Will Sentell reports on the ongoing financial burden presented by the state of Louisiana's Transportation Infrastructure Model for Economic Development (TIMED), approved by voters in 1989. "TIMED was supposed to be a pay-as-you-go road and bridge building plan, including construction of the John James Audubon Bridge, which links New Roads and St. Francisville," writes Sentell. "But 26 years later, two of the 16 projects remain undone — both in the New Orleans area. Those two are anywhere from seven to 10 years away from being finished…"
With that work unfinished, state legislators are getting creative in finding the funding necessary to complete those projects as their price tags increase. In fact, " the state is grabbing an increasing share of the 16-cents-per-gallon gasoline tax that is supposed to finance transportation improvements in Baton Rouge, New Orleans and elsewhere," according to Sentell.
This year, one cent of the state's 16-cent gas tax will be required to pay TIMED debt, but similar grabs "will be needed for the next 27 years" according to the state Department of Transportation and Development.
The article includes a lot more detail into how the projects, and the TIMED plan, went wrong.
Hat tip to Tanya Snyder for sharing the article.
FULL STORY: 26 years later, uncompleted road plan helps shape Louisiana transportation spending
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