April 21, 2011

Malloy seeks OK for $90 million for busway

From the State Bond Commission agenda for next week:

DEPARTMENT OF TRANSPORTATION
SPECIAL TAX OBLIGATION BONDS 
ROADMAP FOR CONNECTICUT’S ECONOMIC FUTURE
REQUESTED:  1)An Allocation and Bond Authorization (to agency) $89,740,000
2)Approval to authorize the Secretary of the State Bond 
   Commission to accept reports and statements on behalf 
   of the Commission as required by the Act. 
  
FROM:  Sec. 4  Acct. No.  13033-DOT57000-43115
Total Earmarking  $1,000,000,000
Previous Allocations  708,767,695
Balance Unallocated  $ 291,232,305
REASON FOR REQUEST: 
These funds are requested, pursuant to Section 13b-79p of the Connecticut General 
Statutes, to provide the balance of the state’s 20% share of funding to commence 
construction on the New Britain-Hartford Busway.  The first of a series of construction 
contracts will be awarded and begin construction this summer. 
This project will create or retain 12,000 construction related jobs. 
Total Estimated Cost  $572,690,000
Less: Estimated Federal Funds  459,350,000
         Previous State Funding  23,600,000
Total, This Request  $89,740,000

Copyright 2011. All rights reserved. Contact Steve Collins at scollins@bristolpress.com

1 comment:

Merrily said...

I thought the state was broke why waste money we dnn<t have on a stupid project that noone will use