It’s not perfect, but the deal the state signed this week to construct a toll bridge where Interstate 10 crosses the Calcasieu River has more plusses than minuses.
After legislative and state approval, the final step in a couple of weeks is for the state to have the State Bond Commission approve nearly a billion dollars in financing from its end. Throw in $225 million in federal funds, and that leaves $900 million for the private consortium Calcasieu Bridge Partners to foot the rest in the building, maintenance, and operating of it for 50 years. That construction could begin within weeks and it is anticipated will last seven years.
Throughout this interval, CBP will collect tolls to pay it back: the initial capital outlay, operating costs, and maintenance. Beyond those, 15 percent goes to the state, with the intention of plowing some or all of that back into subsidizing the tolls, which are indexed to inflation from their initial negotiated levels, with any of that not going to that purpose used for Lake Charles-area transportation projects.