Tolls : A week of fun

  • Carona comes out in favor of raising the gas tax. He still won’t commit to ending toll deals which is a real concern. The reality is that tolling isn’t a good way to raise money. Period. It’s not good for taxpayers and it’s certainly not good for invesotrs.
  • Speaking of investors, they’re taking a bath on the Central Texas toll roads
    According to that statement, the three roads will make $8.7 billion in toll revenue through 2042. In that same time, there will be $7.2 billion in debt payments for that borrowed $2.2 billion, $1.1 billion in operations costs, $752 million in routine maintenance and $388 million for long-term maintenance. The net of all that? Almost $750 million in the hole over 35 years.
    More like an economic jalopy.

    Yeah, the traffic projections aren’t panning out either. Traffic is about 73% of the projections. Didn’t see that one coming

  • TURF‘s suit moves ahead with depositions due this week from TTC Commissioners Saenz and Houghton. Good luck, TURF!
  • In other privatization news, the Camino Columbia toll road (the first private ‘superhighway’ in Texas) was sold… to one of it’s original investors. The road was built for $90million and sold for $12million. What a great investment! If you’re looking for other great investments with a similar return, you might try Bear Stearns. I hear they are trying to unload some SIV’s chock full of subprime paper.

    This entry was posted in Democratic fun..., Election 2008, Stupid Republican Tricks, Texas, The Lege, Transportation. Bookmark the permalink.

    Comments are closed.