Comments on: Firewall doused? http://www.patrickflynn.org/blog/?p=1944 An Assembly member's take on Anchorage issues Tue, 23 Apr 2013 16:33:10 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Bob French http://www.patrickflynn.org/blog/?p=1944&cpage=1#comment-1835 Bob French Sun, 22 Jan 2012 23:10:46 +0000 http://www.patrickflynn.org/blog/?p=1944#comment-1835 Oops, I should also have said that the Assembly and the AMATS Policy Committee still have a chance to recommend that the Firewall be retained in the 2035 MTP Update, so that the Knik Arm Crossing does not take away funding for transportation projects that are actually needed.

]]> By: Bob French http://www.patrickflynn.org/blog/?p=1944&cpage=1#comment-1834 Bob French Sun, 22 Jan 2012 23:07:19 +0000 http://www.patrickflynn.org/blog/?p=1944#comment-1834 Thanks Pat for highlighting the AMATS broken process.
The sad part is that AMATS (lead by Gov. Parnell’s 2 representatives on the Policy Committee, aided by Mayor Sullivan) has ignored the fact that KABATA’s Financial “Plan” is not feasible, breaking the requirement that the 2035 MTP update be “fiscally constrained” . KABATA’s October 2011 TIGER Grant application indicates that they have only 13.1% of their funding sources as “Available”, leaving 86.9% best described as “hoped for”.

The really scary part happens if the Legislature gives KABATA $150 Million in a down payment on their “Reserve Fund”, which even KABATA says is subject to “replenishment” if toll revenues don’t meet their predictions, and if the legislature gives KABATA a blank check by adding the following exact language “the monetary obligations incurred by the authority under the partnerships or contracts are obligations of the state, and satisfaction of those obligations from funds other than authority funds is subject to appropriation”.

Our realistic estimate of how much that “Blank Check” might cost the State is a minimum of a $2.6 Billion Shortfall instead of KABATA’s widely touted statement that the state will be ahead by $1 Billion. See http://www.knikbridgefacts.org

There is little chance that over $353 million in Federal loans will be awarded to Alaska’s “Bridge to Nowhere”, given Nationwide attention to this toxic project. Just this month, Senator Coburn (R-OK), cited the release to KABATA by the Federal Highway Administration of $15.3 Million in right of way funds as project #6 in his “2011 Wastebook”, his list of the top 100 wasteful federal projects.

KABATA’s plan to use public funds to guarantee private profits is abhorrent to taxpayers across the country! Hopefully our legislature will recognize that before deciding to make decisions affecting billions in future state expenditures.

]]>