The Knik Arm Bridge and Toll Authority held the first of two “pre statement of qualification” workshops Wednesday in Anchorage targeted at private investors it seeks to build and operate a toll bridge over the Knik Arm, a branch of the sea separating Anchorage from the Matanuska-Susitna Borough.
The workshops are supposed to help investors understand the project so that they can best demonstrate their qualifications to design, build, finance, operate, and maintain the bridge. A second workshop is scheduled in New York Tuesday.
KABATA officials believe a concession agreement will lead to construction of the crossing, which is expected to cost between $400 million and $600 million. Federal and state governments have already authorized about $100 million.
“Public-private partnerships are an increasingly attractive way for entities like KABATA to take advantage of the private sector’s strengths of creativity and flexibility to supplement the traditional process of financing, building, and operating public transportation projects,” George Wuerch, chairman of the authority’s board, said in a statement. “Studies and projections show the project is viable under a scenario in which the remaining cost is funded by private investment and loans to be repaid by toll revenue.”
Statements of qualifications from interested parties will be accepted through March 13.
