rev. rb - aka spiritwarriorwoman: blog 
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troubled economy could delay toll road construction
Published Oct. 15, 2008Raleigh, N.C. — Unstable financial markets could mean delaying construction on the two remaining sections of the state's first toll road, the Triangle Expressway.
David Joyner, executive director of the North Carolina Turnpike Authority, said Wednesday that the downturn in the economy could delay going to the bond market later this month to raise $600 million for the project.
At this point, no one knows how long a delay could be.
The General Assembly set aside $25 million a year in gap funding to cover the difference between the cost of the project and revenues generated by tolls in the coming years. The bonds are revenue anticapation bonds based on future tolls.
The initial contracts with the two contractors, S.T. Wooten Corp., of Wilson, and the Raleigh-Durham Road Builders, expire in November.
Both parties met with the Turnpike Authority Tuesday to consider extending the terms of the deal. Joyner said he is still confident the project will happen and that a completion date of 2011 is still possible.
The Northern Wake Expressway, the first section of the 18.8-mile Triangle Expressway, opened in July 2007 and stretches 2.8 miles from N.C. Highway 54 in Morrisville to N.C. Highway 55 near Research Triangle Park.
The second leg, the Triangle Parkway, which runs from N.C. 147 in Durham to N.C. 540 in Morrisville could open as early as 2010.
The Western Wake Freeway, from N.C. 55 near Research Triangle Park to N.C. 55 between Holly Springs and Apex, could open as the third section as early as 2011.
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THIS IS EXACTLY NOT WHAT THE GOVERNMENT SHOULD BE DOING. PROJECTS CREATE JOBS, JOBS EQUAL MONEY AND MONEY EQUALS CONSUMER SPENDING WHICH IS WHAT IS NEEDED TO JUMP-START THIS ECONOMY.
WHAT ARE THEY THINKING!!!
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Your right. Sometimes skimming is not enough.
The main thing is, we don't need that road anytime soon and we certainly don't need a toll road in the state of NC.
GOLO member since September 19, 2008
October 16, 2008 7:59 a.m.
GOLO member since March 31, 2008
October 15, 2008 11:25 p.m.
"The initial contracts with the two contractors, S.T. Wooten Corp., of Wilson, and the Raleigh-Durham Road Builders, expire in November."
GOLO member since March 31, 2008
October 15, 2008 11:20 p.m.
GOLO member since September 19, 2008
October 15, 2008 11:12 p.m.
;)
GOLO member since March 31, 2008
October 15, 2008 10:52 p.m.
re: rail transit. raleigh is hitting the point where this is becoming critical. a rail system that connects raleigh, durham, cary through rtp would be very nice, and if built now, would help create jobs.
GOLO member since March 31, 2008
October 15, 2008 10:50 p.m.
No other reason.
North Carolina is being turned into South New Jersey.
Toll roads are for dam n yankees so they can take their friends off welfare and give them irrelevant jobs.
GOLO member since September 19, 2008
October 15, 2008 10:07 p.m.
I think the constituents do, but the politicians are dragging their feet until enough people get killed on 40 to make it worth it.
That's the only thing I can figure out.
God bless.
Rev. RB
GOLO member since July 2, 2007
October 15, 2008 9:36 p.m.
GOLO member since September 3, 2008
October 15, 2008 9:23 p.m.
I agree on rapid rail. If we wait until we need it, it will be too late...and we needed it a few years ago already.
God bless.
Rev. RB
GOLO member since July 2, 2007
October 15, 2008 9:13 p.m.
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