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Committee hears update on bridge expansion, P3 talks and a $225 million capital need; members urge revisiting 1998 revenue split
Summary
City staff told the Port of Entry Advisory Committee the environmental assessment for Laredo bridge expansion is nearly complete and that negotiations with a private partner continue; committee members urged revisiting a 1998 resolution that splits toll revenue 50/50 given rising costs and bond needs estimated at about $225 million.
City Bridge staff briefed the Port of Entry Advisory Committee on Nov. 17 on the status of the Laredo bridge expansion and an ongoing toll-rate study.
"The anticipated funding needs for capital projects [are] totaling approximately $225,000,000 including a major bridge expansion, toll system modernization, and facility upgrades," the staff said while reading a city manager letter summarizing the study.
Staff also…
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