Ga. Road Budget So Squeezed, DOT Can’t Afford to Borrow

April 16, 2010  |  

(Atlanta Journal-Constitution) — Georgia’s transportation budget is so squeezed that the state Department of Transportation has asked the governor and the Legislature to cancel — for now — $300 million the state plans to borrow for road projects, because the DOT will be hard-pressed to make the debt payments.

In addition, within a couple of years, Georgia will have to pass up “tens if not hundreds of millions” in federal funds for road projects, because it will be unable to supply the standard 20 percent local financial match, said state Transportation Board member David Doss. The board’s legislative committee on Wednesday backed a resolution Doss introduced to notify theLegislature of the likelihood of losing the federal funds, and the full board will take it up Thursday.

Read More…

Trending on MadameNoire

View Comments
Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN
blog comments powered by Disqus