Stephen Rees's blog

Thoughts about the relationships between transport and the urban area it serves

That $3bn Bridge will be $12bn

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new-bridge
The following is the text of an NDP Press Release dated May 5

Documents show Clark’s Massey Bridge boondoggle will cost $12 billion

Construction costs for Christy Clark’s Massey toll bridge are mounting. After first claiming the bridge would cost $3 billion to build, estimates have already risen to $3.5 billion. And with reports that they are having difficulty finding bedrock, these costs are expected to climb further.

Because Christy Clark is pushing the bridge with no financial support from the federal or municipal governments, BC taxpayers will be left footing the whole bill.

Several months ago, the BC NDP filed a freedom of information request to find out the full cost of the project, including financing. The request came back with all financial details blanked out. (FOI documents).

But leaked internal documents (available here) reveal that financing costs for the bridge will add another $8 billion in costs that British Columbians will be paying for the next 50 years – bringing the total bill to nearly $12 billion.

We’ve already seen the frustration and traffic chaos caused by tolling the Port Mann Bridge. Christy Clark’s Massey scheme would cause similar problems on the Oak Street Bridge and area roads.

Why are the BC Liberals asking British Columbians to pay nearly $12 billion for a new toll bridge scheme that nobody wants?

Written by Stephen Rees

May 5, 2017 at 2:50 pm

Posted in Transportation

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One Response

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  1. 2 observations:

    1/ if you sum the whole financing cost of one project, you should do it for everything, transit included…I am not sure it is a fair way to do it… in 30 or 50 years from now, the value fo money will be very much different (so, like when you buy a house, you just look at the monthly payment, and play on the borrowing period to make it works bearable)

    2/ if you think why $12B for a new toll bridge? then why remove toll for an existing $12B birdge (port Mann) and ask the taxpayer instead of the user to pay for it?

    Voony

    May 8, 2017 at 10:00 pm


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