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Legislative oversight panel hears ODOT: major projects face multi‑billion dollar shortfalls, bonds planned
Summary
ODOT told a joint interim transportation committee that several large projects are at different development stages with collective funding shortfalls, and outlined a debt strategy including a planned bond sale to refinance short‑term borrowing. Committee members pressed for contingency plans and clearer tradeoffs.
The Joint Interim Committee on Transportation Oversight heard an ODOT briefing Tuesday showing a web of funding gaps across the state’s largest projects and a strategy that relies on staged bond issuances.
"Our transportation system right now is struggling," Co‑chair Pham said as the session closed after a multi‑hour briefing. ODOT Deputy Director Travis Brower told the committee that issuing long‑term debt is a standard tool for major capital work — "very few people buy a house without taking out a mortgage" — and that the agency expects to time bond sales to project cash‑flow needs.
Brower outl…
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