Problems are appearing with regard to plans for transport funding set out by the Georgia Department of Transportation.
Problems are appearing with regard to plans for transport funding set out by the 3328 Georgia Department of Transportation. The body was refused a loan of US$375 million from the US Federal Government for the I-575 and I-75 toll lane projects. The projects would be worth around $1.4 billion combined and are located in Cherokee and Cobb counties. The loan would have been repaid through toll collection on the links. The loan programme through which the funds were being sought is part of the Transportation Infrastructure Finance and Innovation Act.
It has been highlighted that even with the loan, the project would still require public tax revenue worth up to $350 million, as well as toll revenue. That represents more than the whole road-widening budget provisioned by the state for the last fiscal year. In addition, the state is also looking at more toll lane projects so that metro Atlanta has a managed lane network. The cost of that to road users could be up to $7 billion.
It has been highlighted that even with the loan, the project would still require public tax revenue worth up to $350 million, as well as toll revenue. That represents more than the whole road-widening budget provisioned by the state for the last fiscal year. In addition, the state is also looking at more toll lane projects so that metro Atlanta has a managed lane network. The cost of that to road users could be up to $7 billion.
