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NCDOT Extends Financial Close A Third Time

NCDOT and I-77 Mobility Partners have amended the contract a third time to extend the financial close.  The original financial close date was January 22, 2014.  It had been extended through two previous amendments to May 17, 2015.  The latest agreement extends the financial close another ten days, to May 27. Surprising Addition That NCDOT

Where’s the Fairness?

The North Carolina Department of Transportation (NCDOT) and some elected officials want to impose High Occupancy Toll Lanes (HOT) on Interstate 77 from Charlotte to Mooresville.  Nine (9) miles of this route have a minimum of 3 General Purpose (GP) lanes, while the remainder of Seventeen (17) miles have only 2 GP lanes.  Let’s look

And Right After the Feds, Here Comes North Carolina…

The Local Government Commission is holding  special meeting today to approve a $105 million allocation of private activity bonds for the private toll lanes:  

Feds Approve $189M in Bonds for I-77

Today the TIFIA Credit Council met to review Cintra’s proposal for $189 million in taxpayer-backed bonds. Despite the fact that three fourths of toll revenues will go to the NCDOT, despite the fact that the contract has to be amended so key provisions right now are just placeholders, despite two extensions of the deadline at

Still Working For You

You may have thought we had packed up and gone home.  Well, far from it.  We have been busy stopping the HOT lane project and getting a non-tolled solution ranked and funded.  On March 3rd, we had our complaint heard by a judge where we asked for a “preliminary” injunction of the HOT lane project. 

Financial Close Postponed… Again….

NCDOT and I-77 Mobility Partners (the LLC Cintra set up for the private toll lanes) extended the Financial Close deadline another 45 days. The contract signed by Cintra and NCDOT on June 26, 2104 required Cintra to post a $15 million bond which they would forfeit if they did not close on time. The original

Feds Poised to Loan Millions Based on “Placeholder”

UPDATE: The April 6th meeting was cancelled by the Undersecretary of Transportation. UPDATE: The meeting between Cintra and the Feds has been postponed until April 6. ——————————————————————————————————— Suppose you are applying for a loan to buy a house. You’ve been working with a lender for the past two years and today you’re ready to get

NCDOT Keeps Three -Fourths of Toll Revenues

Today executives from Cintra are meeting with the TIFIA Credit Council to obtain financing for the I-77 toll lane project.  TIFIA is a federally-backed loan program, and Cintra is seeking $189 million from this program. That’s down from their original request of $215 million. We expect them to approve the plan despite what you’re about

The Day Before Our Day In Court

You probably heard we spent the day in court yesterday pressing our case for a preliminary injunction.  The decision can go one of three ways: The judge grants the preliminary injunction The judge denies the preliminary injunction, in which instance the case can still move forward The judges throw the case out. The key words

Invitation to Court Hearing on Tuesday

Dear Widen I77 Friends and Supporters; We are approaching a major milestone in our efforts to Widen I-77 without tolls. Our complaint is scheduled to be heard this coming Tuesday, March 3 at the Alamance County Historic Courthouse, 212 W. Elm St. in Graham, N.C. at 9:30 a.m. by The Honorable W. Osmand Smith, III