The Georgia Legislature is considering a $300 million infusion of additional gas tax funds to shore up funding to build the first phase of the West by Northwest traffic-congestion relief project around Atlanta.
The nearly $900 million project was supposed to be the state’s first transportation public-private partnership. Gov. Nathan Deal pulled the plug on the project in the midst of selecting a concessionaire in mid-December.
Deal ended the P3 after becoming concerned about the length of the concession contract — up to 70 years.
The governor was also concerned about how the private project could affect the state’s ability to undertake others in the same area.
To put additional public funds in place for the 29-mile toll road project, the House passed a mid-year budget revision Friday that allocates another $300 million of gas tax revenues in addition to $200 million previously set aside.
The Georgia Department of Transportation also planned to fund the project with up to $100 million of grant anticipation revenue vehicle bonds and up to $10 million of toll-revenue bonds. It also counted on a $270 million low-interest federal loan through the Transportation Infrastructure Finance and Innovation Act program.
The additional gas tax funding must still be approved by the Senate.
