- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Head of Baton Rouge based-private equity fund predicts that financing for bridge available
Posted on 8/9/18 at 7:47 am
Posted on 8/9/18 at 7:47 am
quote:
Bernhard ready to launch MoveBR informational campaign if council places it on ballot
LINK
If the Metro Council approves placing Mayor Sharon Weston Broome’s MoveBR roads tax proposal on the Dec. 8 ballot at its meeting this evening, key business leaders plan to fund an informational campaign designed to help voters understand exactly how and where their money will be spent.
Jim Bernhard—who founded and ran The Shaw Group and now heads a more than $2 billion private equity firm, Bernhard Capital Partners—has been among those working behind the scenes to encourage council members to bring the tax measure to a vote of the people.
Bernhard says he’s spoken to all 12 council members over the past few weeks and feels his message “was well received.”
If the vote on the 30-year, half-cent sales tax is allowed to move forward, Bernhard says the campaign will focus on specifics of the tax package and accountability.
quote:
During the legislative sessions earlier this year, lawmakers approved creation of a five-parish Capital Area Road and Bridge District tasked with finding a way to finance and develop the new span, estimated to cost more than $1.5 billion when the cost of an access loop around the parish is factored in.
Bernhard says financing will not be a problem for the bridge, which is envisioned as a toll bridge.
“I don’t think that will be difficult to finance because if someone doesn’t finance it we will at BCP,” he says. “That is not something we are seeking, but I can tell you from the private equity aspect there is money available for that bridge, period.”
quote:
Bernhard is confident if voters in the five parishes approve a plan, which could come as soon as this spring, a new bridge will be built within a decade.
Louisiana is pretty tapped out when it comes to taxes already, but there is a lot of regional support for this.
I think this has no chance as a property tax. A gasoline/diesel tax along with a toll for the bridge itself would probably be the best way to raise funds for this. At least then the trucks and commuters that are based outside the region would help pay for the infrastructure that they use.
Bernhard is being optimistic on the timeline. If they narrow down the site for the new crossing this year, obtained a source of funding (from which to borrow against) and established a regional toll authority next year, they are probably still 5 years away from breaking ground at least.
Last time I read about this, there was still no clarity on which of the two crossing sites were being chosen. Ibberville wanted it near Bayou Goula. Everyone else wanted it immediately north of Plaquemine near DOW.
14
Posted on 8/9/18 at 7:48 am to dewster
Will not happen. But it should
Posted on 8/9/18 at 7:51 am to dewster
quote:As long as the East Bank approach takes up the President Streets area, I’m all in.
there was still no clarity on which of the two crossing sites were being chosen.
It can actually cross at Angola or Venice.
This post was edited on 8/9/18 at 7:51 am
Posted on 8/9/18 at 7:52 am to DustyDinkleman
quote:
Will not happen
It's unlikely to happen but I think there is a definite non-zero % chance that it does happen. A new bridge crossing is more likely than a full new beltway around Baton Rouge.
If the region wants it bad enough, it will probably be a toll-way.
I know they plan on enhancing I-10 through Baton Rouge starting next year, but I just don't see how they could possibly add enough capacity to address the growth in freight traffic expected over the next 25 years. Going from 6 to 8 lanes is just barely enough for today's demand. Alternative routes are going to have to happen one way or another.
This post was edited on 8/9/18 at 7:57 am
Posted on 8/9/18 at 8:05 am to dewster
I predict that, if the bridge is ever built, BR will pay several times the actual construction costs, and the people of BR will never stop paying the taxes that are supposed to be going towards paying that off. Never.
But the bridge will never be built.
But the bridge will never be built.
Posted on 8/9/18 at 8:09 am to dewster
We already have the highest sale tax in the U.S. I live in Zachary where we have the highest property taxes in the state. Not voting for any new tax period. We waste enough taxpayer money in this state to build a new bridge every year.
Posted on 8/9/18 at 8:11 am to dewster
Why not build a wall along Florida Blvd. instead?
Posted on 8/9/18 at 8:39 am to lsufan1971
quote:
We already have the highest sale tax in the U.S. I live in Zachary where we have the highest property taxes in the state. Not voting for any new tax period. We waste enough taxpayer money in this state to build a new bridge every year.
I don't see how a new bridge is constructed without significant revenue from tolls and the state/feds kicking in some funding. I agree that the state is pretty tapped out when it comes to taxes, although a gasoline/diesel tax probably makes some sense for this.
Posted on 8/9/18 at 8:52 am to dewster
quote:
I agree that the state is pretty tapped out when it comes to taxes
It isn't an issue of tapped out revenue. They have a spending problem. Look at the recent medicaid fraud report that was just released.
Posted on 8/9/18 at 9:02 am to lsufan1971
Then they need to have studies which cost around $300k each. One for a study to study the study of a study of if a new bridge would be needed South of the new Miss River Bridge.
My great grandkids might see a new bridge built across the Miss River South of the I-10 bridge.
My great grandkids might see a new bridge built across the Miss River South of the I-10 bridge.
Posted on 8/9/18 at 9:11 am to dewster
They should be looking at shutting down the bridges to keep Baton Rouge crime from spreading to the nice safe parishes around it
Posted on 8/9/18 at 9:13 am to dewster
The region needs a comprehensive plan in order to maximize our tax dollars, etc.
EBR has a massive package on the table, but it's not coordinated with regional planning.
We could build a bridge and not have proper access if we aren't careful.
EBR has a massive package on the table, but it's not coordinated with regional planning.
We could build a bridge and not have proper access if we aren't careful.
Posted on 8/9/18 at 9:14 am to dewster
Upgrading 10 is only part of the solution.
Posted on 8/9/18 at 9:18 am to dewster
Bernhard is such a great guy for doing this. I'm sure he'll even provide the city the use of one of his construction companies at a slightly less than astronomic markup.
Posted on 8/9/18 at 9:32 am to dewster
Imagine a bridge that bypasses 1-10 traffic around Baton Rouge and connects to I-10 south of Baton Rouge and continues on to 1-12 somewhere near Walker. Just imagine that. It would almost be like we would be joining the modern world. Make it a toll road and give Buc-ees an exclusive contract for the only gas station on the stretch and watch it become a tourist attraction.
Posted on 8/9/18 at 9:59 am to Lsupimp
That would be a good idea except the East end of the loop needs to go out to Livingston as this area is growing a lot.
They could also extend LA Hwy 3125 from Assumption Parish to LA 415. I went to a Chamber meeting a few years back and they had a speaker talk about this. The state owns the land, cheap temporary fix, shovel ready, and gives the Westbank residents along LA 1 another road to get to I-10.
They could also extend LA Hwy 3125 from Assumption Parish to LA 415. I went to a Chamber meeting a few years back and they had a speaker talk about this. The state owns the land, cheap temporary fix, shovel ready, and gives the Westbank residents along LA 1 another road to get to I-10.
Posted on 8/9/18 at 10:02 am to dewster
good luck to Mr. Bernhard. I know he knows how little support the Loop ultimately received in the surrounding parishes, so his motive here is a bit suspect. maybe he's thinking if the funding is in place, they'll have incentive to keep going this time.
talking about getting the money in place is a good start, but they're basically going to be starting over the process that the Loop already tried to do. you can't construct a project like this without massive federal funding, and you can't accept federal funding on that scale without an incredibly thorough environmental....wait for it....STUDY (gasp!).
everyone thinks it's a kickback to consultants, but it's actually a mandatory federal document/process. this is exactly what the Loop was already years into doing. now we'll be paying for someone else to start the exact same process over. it's going to take a lot of time, a lot of money, a lot of the same public meetings, and another team to develop alternative routes that will probably end up pretty similar to the first team's routes.
it's an absolute shame that the first attempt was shot down. maybe now the public will realize (they won't) that they're both setting the entire thing back another however-many years AND paying for duplicate work.
tl;d--surrounding parishes (except Iberville) hated the loop and will hate any routes that go through them this time as well
talking about getting the money in place is a good start, but they're basically going to be starting over the process that the Loop already tried to do. you can't construct a project like this without massive federal funding, and you can't accept federal funding on that scale without an incredibly thorough environmental....wait for it....STUDY (gasp!).
everyone thinks it's a kickback to consultants, but it's actually a mandatory federal document/process. this is exactly what the Loop was already years into doing. now we'll be paying for someone else to start the exact same process over. it's going to take a lot of time, a lot of money, a lot of the same public meetings, and another team to develop alternative routes that will probably end up pretty similar to the first team's routes.
it's an absolute shame that the first attempt was shot down. maybe now the public will realize (they won't) that they're both setting the entire thing back another however-many years AND paying for duplicate work.
tl;d--surrounding parishes (except Iberville) hated the loop and will hate any routes that go through them this time as well
Posted on 8/9/18 at 10:12 am to johnnyrocket
quote:yea actually, there would be another study needed. "needed" being the key word b/c it's federal law. you can't move forward without it. the shame of it all is that it was already being done and was already being paid for, and now all that would have to done again. and don't point the finger at politicians (even though some advocated against it), or at DOTD, or at the consultants. blame the protesters at the meetings, blame the "no loop" signs in people's yards, and blame the petitioners who got their parish presidents to say their constituents didn't want it.
Then they need to have studies which cost around $300k each. One for a study to study the study of a study of if a new bridge would be needed South of the new Miss River Bridge.
but hey, maybe this time will be different!
quote:yea, they might. or maybe no one will. ever.
My great grandkids might see a new bridge built across the Miss River South of the I-10 bridge.
Posted on 8/9/18 at 10:14 am to dewster
Sure, now you just have to get EBR, WBR and Iberville as well as the US Coast Guard and Corps of Engineers and the several neighborhoods it is going to remove to agree to the location. Then you need the EPA and all the environmentalist groups to not sabotage it.
Posted on 8/9/18 at 10:23 am to dewster
I don't know a lot, but Bernhard has stroke, how can somebody worth what he's worth NOT? If he's in on the idea, you can bet a lot of politicritters want his money, and they will begin to play along.
I don't like extra spending/taxation/tolls. But if a half-cent would do it? Why the hell not? Part of the problem with politics today is that politicritters add taxes and laws, and then NEVER sunset them. State Legislature just had 400 new laws go into effect a week ago. 400 and NOTHING was taken off the books. That's huge.
I don't like extra spending/taxation/tolls. But if a half-cent would do it? Why the hell not? Part of the problem with politics today is that politicritters add taxes and laws, and then NEVER sunset them. State Legislature just had 400 new laws go into effect a week ago. 400 and NOTHING was taken off the books. That's huge.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News