Category Archives: Analysis

Evidence that NCDOT swayed CRTPO Vote

In a series of emails obtained by Widen I77 it appears NCDOT timed a press release and worked behind the scenes to deliberately influence an important vote by the Charlotte Regional Transportation Planning Organization (CRTPO). The press release and follow up communications were calculated to make it seem as if financial close had already happened

How Cintra Makes Money

Editors note: the following has been sent to certain elected officials at the state level. It is based on publicly available information. I-77 Managed Lanes Project: North Carolina Liability & Developer Profit Summary If the I-77 managed lane project is built North Carolina taxpayers will pay $540 million in capital costs, operating subsidies and Developer

Carpoolers without transponder will be charged toll

For years now we’ve been told that one of the benefits of the I-77 toll lanes is they will encourage carpooling because vehicles with three or more occupants can use the lanes for free. NCDOT’s website proclaims: Speaking of free, there are several ways you can use the express lanes without spending a dime. The

I-77 Toll Operator Expects Revenues of $34M by 2020

FOR IMMEDIATE RELEASE email: Wideni77@hotmail.com   Cornelius, N.C. – May 6, 2015 –  Ratings agency DBRS disclosed a portion of  I-77 Mobility Partner’s revenue forecast in their pre-sale bond report of April 29, 2014. The report lists the expected toll revenues for the first three years as follows: 2018  $5.0 million (partial year) 2019  $24.6

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

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

NCDOT & Cintra extend financing deadline at taxpayer expense

Last week NCDOT and Cintra  extended the financial close deadline for the I-77 toll lane project by amending the tolling contract.  Under the original terms Cintra was required to secure financing by January 22, 2015 or forfeit a $15 million security deposit to the North Carolina Department of Transportation (NCDOT). The original terms also allowed

About that $70 billion…

“We have $70 billion in road needs and only $11 billion to pay the bill.” It’s a lament commonly used to justify toll lanes. We heard it at the candidate forum last week, and we’ll probably hear it at the next one tomorrow night. But how did NCDOT come up with that $70 billion figure,

Widen I-77 to Present in Iredell

Widen I-77 will be presenting its analysis of the I-77 toll lanes and alternatives this Tuesday, September 9, 7pm at the Charles Mack Center in Mooresville. The I-77 toll lanes are planned to be built and operated by a foreign company under an exclusive 50 year contract. This will be the ONLY opportunity for Iredell residents to learn about