Gov. Tina Kotek balks at $1 billion Interstate Bridge bond plan – By Julia Shumway (Oregon Capital Chronicle) / Apr 17 2023
Gov. Tina Kotek isn’t on board with legislative plans to commit $1 billion in state-issued bonds to replace the Interstate 5 bridge connecting Oregon and Washington.
Lawmakers on the Joint Transportation Committee this week preview plans to issue $1 billion in general obligation bonds for the bridge replacement. Investors would buy the bonds, giving the state money upfront for the bridge replacement, and the state would repay those investors with interest over the next four two-year budget cycles.
Kotek told reporters during a tour of Polk County on Friday that she believes the aging bridge needs to be replaced, and she thinks transportation officials are on the right track with their current design, which includes three travel lanes in each direction, light rail and paths for buses, bicyclists and pedestrians.
But she balked at the proposed source of those funds. Kotek has called for using $770 million in bonds for affordable housing projects and another $130 million in bonds for housing with services for chronically homeless people with disabilities.
