Federal funding is typically 70% on bridge / transit projects
Third Bridge Now is a bi-state freeway connecting to the I-5 interstate freeway system in Vancouver at the northern and I-5, I-405 area at the southern end.
The alignment connects the majority of port(s) and industrial lands in both states on one continuous freeway corridor, and removes surface level freight and cut through traffic from residential neighborhood streets.
These elements of project can increase federal funding:
- Providing freeway access to the I-5 freeway system from employment centers
- Connect the majority of ports and industrial areas on one corridor
- Removes Freight and Hazardous Material Route from several neighborhoods in both states
- Clean air, drive less, and safer streets
- Relieves congestion that affects the income in several states.
Third Bridge Now alignment uses mostly vacant publicly owned land, and land inside Right Of Way for the majority of the project. The land’s value can be used as part of our local matching funds for federal dollars. Construction can start almost immediately on the public land portions.
Municipal Bonds would be sold to pay for the project. Direct infrastructure to our ports and industrial will raise land values, attract business, keep business, and provide businesses and citizens alike with benefits from the congestion relief. Currently we lose $1.3 billion every year to congestion in Oregon the majority in the Portland metro area.
Example is for discussion only.
Open for anyone to purchase repaid with an infrastructure tax on Rivergate District and Swan Island in Oregon. In Washington the infrastructure tax on the Port of Vancouver, Fruit Valley Rd. Industrial Area, and the new waterfront residential and retail area. These areas received direct freeway access to Third Bridge freeway corridor and freeway access to I-5 freeway north and south.
Statewide Gas Tax, Oregon
Statewide gas tax for 10 years with total sunset no renewal-ability. Gas tax funds 100% specific to Third Bridge Now project amount to be 10¢ a gallon of fuel. A 1¢ a gallon of gas tax is approximately $22 million annually in the State Of Oregon.
SW Washington has been paying state gas tax with a majority going to other regions. Therefore the state may have a dollar amount considerate for funding. A gas tax can be county-wide, region-wide or state.
Project specific lottery and scratch-off tickets to embellish pedestrian amenities.
Third Bridge Now alignment majority is vacant publicly owned land providing a large savings. New infrastructure is less expensive than interfacing with existing infrastructure:
- No flaggers on the I-5 freeway
- No removal of existing utilities or infrastructure
- No additional construction congestion
- ability to use staged assembly style construction.
Be part of the solution!
Learn more at ThirdBridgeNow.org.