Tuesday, February 3, 2009

Gateway Freeway in Peril

Remember awhile back when we lauded Mesa investing $6 million to trigger $20 million in funding for the Williams-Gateway Freeway? Well, it looks like the legislature has swept that $20 million away to help cover their $1.2 Billion dollar revenue shortfall.

This means the start of construction by 2012 is not likely. As I have mentioned before, imagine if the San Tan had been done 4 years earlier. The sooner we can get some of the freeways open, the sooner we can reap the rewards of the economic opportunity. This freeway is going to help all of the Southeast Valley, including those who commute from Pinal County. The longer this is on hold, the more trouble it could potentially cause.

So the question is, what does this do to Mesa and their $6 million investment? Is it too late? Is the money spent? Is it still worth it to do the research at this point, or should they hold off for now so they don't have to start paying interest in 2014? Clearly, Mesa appeared to make their investment acting on good faith. Its not clear if the legislature reciprocated.

No comments: