Officials of the Knik Arm Bridge and Toll Authority are looking everywhere for deep pockets to build a bridge connecting Anchorage and the Matanuska-Susitna Borough, in exchange for a substantial portion of the tolls for 55 years after the bridge is completed.
KABATA held workshops in Anchorage Jan. 17 and in New York City Jan. 23 for potential financial, construction and related industry partners, showcasing the project as an attractive public-private partnership. KABATA hopes to attract a number of offers from firms interested in investing about $500 million in developing, financing, constructing, operating and maintaining the bridge.
Plans are to choose three finalists from those who submit requests for qualifications and choose the winning group by the end of December, said Henry Springer, executive director of KABATA.
KABATA issued a statement in December saying it was interested in bringing a private partner's financial strength and experience into the equation. “The number and quality of proposals will be an excellent indication if we have a viable project under these circumstances,” Springer said.
KABATA was established in 2003 under state statues to develop and construct the bridge. The Legislature has allocated some $129 million in state and federal funding for the project, including an estimated $30 million for the planning and environment phases. The state has approved a public-private partnership as a means of financing and developing the project.
A final environmental impact statement for the project has yet to be completed. Still unknown are how many vehicles would actually use the bridge and what the toll would be.
Supporters of the bridge see it as a vital economic link that would contribute to development in the Mat-Su. The bridge is also expected to allow residential growth.
Opponents argue that it's congressional pork barrel spending, and would have detrimental effects on the environment. Others say the funds could be better spent improving existing road systems.
Margaret Bauman can be reached at margie.bauman@alaskajournal.com.
