To encourage discussion about how the Salem River Crossing Project could be funded, we created the funding tool below.
While some portion of the project likely will be paid for using federal and state funds, the current funding climate indicates
that local funding must be a significant portion of the total funding. Plus, local funding commitments are necessary to compete
for state and federal funds.
For these reasons, the tool was designed to explore potential local funding options. The tool allows you to examine the trade-offs
among various local funding sources that have been used to fund transportation projects in other locations. You can use the tool
to develop funding scenarios—combinations of sources needed to meet the annual debt payment of $30.7 million (to pay off $500
million of local contribution over 30 years). This is an estimated amount; the actual amount of local funding needed will vary
depending on the cost of the preferred alternative and on how much of the total cost will be covered by state and federal funds.
How to use the funding tool
To use the tool, fill in the boxes with the funding source or sources you think should help fund the project. You will see the
revenue resulting from your funding choices in the box labeled “Surplus/(Deficit).” If there is a surplus, you would have extra
money collected. If you have a deficit, you would need to collect more money to cover the cost of the project.
Hover over any of the text inside the tool to learn more about the funding sources.
The funding tool is based on assumptions and simplifications consistent with the current phase of the project.
The output from the tool should be used with this in mind.
Additional information is also available in
the Funding Booklet. For details about assumptions
imbedded in the tool itself, refer to the funding terms glossary.
The additional graphics may take time to load after your information is added to the tool.
Survey
Take a short survey (open through May 18) to tell us what you learned by using this funding tool, your ideas for developing a local funding plan, and other comments or questions that you have.
