Beyond the State saying no tax dollars... the larger issue was the Canadians wanted it in a different location.
Have you ever crossed the Bridge and been in the traffic jam that it creates on the Windsor side? Makes sense that since they wanted to move it - they pay for it and take control.
-----------------------------------------------------
The new crossing, to be built roughly two miles downriver from the 83-year-old Ambassador Bridge, will connect the industrial neighborhoods of Delray in Detroit and Brighton Beach. Canada already has begun construction on the Windsor-Essex Parkway, a $1.4 billion highway extension that will allow bridge traffic to bypass 17 stoplights and downtown Windsor.
BUILDING THE BRIDGE
The Snyder administration released the following 15-point summary of the New International Trade Crossing agreement:
• Michigan will not be obligated to pay any of the costs of the NITC and no state appropriation will be required.
• The Crossing Agreement provides that Canada, through a Canadian entity to be created called the Crossing Authority, will be responsible for the design, construction, finance, operation and maintenance of the NITC.
• Signing the agreement on behalf of Michigan are Gov. Snyder, the MDOT director and the president of the Michigan Strategic Fund. Signing on behalf of Canada are Transport Minister Denis Lebel and a representative of the Crossing Authority.
• Actual design, construction, operation and maintenance of the NITC will be done by a private entity through a 40-50 year public-private partnership agreement (P-3 Agreement) between the Crossing Authority and the private entity as concessionaire.
• Canada will make annual “availability payments” to the concessionaire to pay for the costs of financing the design and construction of the NITC and for the on-going operation and maintenance expenses during the terms of the P-3 agreement.
• The government of Canada will also pay all costs of required land acquisition in Canada and in Michigan and will also pay for the construction of the interchange to connect the NITC to I-75.
• No tolls will be charged in Michigan for the use of the NITC. Canada will charge tolls in Canada for use of the bridge.
• Toll revenues received by Canada will be used to reimburse the Canadian government for its advances for NITC-related costs and for its annual availability payments to the concessionaire.
• Canada’s expenditure of up to $550 million will be eligible as matching funds for U.S. federal aid for Michigan highway projects.
• An International Authority will be established with three members appointed by Michigan and three members appointed by Canada.
• The International Authority will oversee the competitive procurement process to select the concessionaire. It must approve the forms of the Request for Qualification (RFQ), the Requests for Proposals (RFP), the winning proposal and the P-3 agreement.
• The International Authority will oversee compliance by the Crossing Authority with the terms of the crossing agreement and compliance by the concessionaire with the terms of the P-3 Agreement, both before and after the opening of the NITC.
• The RFP and the P-3 Agreement must contain provisions for a community benefits plan and for the involvement of the affected communities in both Michigan and Canada.
• Effectiveness of the crossing agreement is subject to approval of the U.S. Secretary of State, in accordance with the provisions of Article I, Section 10 of the U.S. Constitution and federal laws implementing those provisions.
• No state or local entity in Michigan will be obligated to make any availability payments or any other payments to the concessionaire or to any third party in connection with the design, construction, operation and maintenance of the NITC.
rest of article at:
http://www.mlive.com/news/index.ssf/2012/06/snyder_by_building_bridge_mich.html#incart_river_default
Author
Topic: "Visionary" Snyder gets Bridge Deal without State Tax Dollars (Read 2448 times)
