Escalating project expenses and funding shortfalls blamed
PORTLAND, Ore. (KATU) — A civil engineering and business expert is warning drivers could be paying $20 to cross the Interstate Bridge between Portland and Vancouver.
Bob Ortblad, a retired civil engineer and University of Washington master’s graduate cites “escalating project expenses and funding shortfalls.”
“The Interstate Bridge Replacement (IBR) program’s financial projections are overly optimistic and fail to account for a looming $1 billion shortfall,” said Ortblad. “With costs likely to hit $9.4 billion by 2025 and limited state and federal funding, tolls could soar to an unsustainable $20 per crossing, placing a heavy burden on commuters.”
The news release came from Neighbors For a Better Crossing Inc., a coalition against the Interstate Bridge and has been advocating for an “immersed Tube Tunnel” instead.
The release refers to the Interstate Bridge Replacement program’s 2023 Financial Plan and Analysis.
“The IBR’s 2023 Financial Plan estimates $6.5 billion in available funds against a projected $7.5 billion in costs, leaving a $1 billion deficit. Ortblad notes that a hoped-for $1 billion Federal Transit Administration grant is unlikely due to low ridership projections, impractical station designs, and freeway-adjacent park-and-ride facilities that encourage urban sprawl,” the release said.
It refers to Washington Legislature’s proposed $2.5 billion in bonds to bridge the gap.
House Bill 1958’s report says, “This bill leverages the tolls that were authorized in 2023, and an investment-grade traffic and revenue analysis is currently underway for the IBR. The current finance plan that’s been issued and published by the project team calls for toll revenue of $1.2 billion, and previous analysis demonstrated the ability for the facility to generate $1.6 billion in total revenue.”
