Construction of the Highlands-Sea Bright, “Joseph Azzolina Memorial” bridge has been halted, as has 106 other NJ Department of Transportation projects, because the state legislature failed to approve a routine bond sale prior to September 30, according to Transportation Commissioner James Sampson. 14 NJTransit projects and design work on hundreds of future projects has also been halted effective Monday October 4.
“We have been forced to implement this work stoppage due to the Legislature’s failure to approve a routine bond transaction for the fifth and final year of a transportation program that was approved under the previous Administration,” Commissioner Simpson said. “Because of the Legislature’s failure to act, thousands of engineers, planners, designers and construction workers will be put out of work and project schedules will be disrupted.”
The Transportation Trust Fund Authority transaction involving the sale of up to $1.25 billion in bonds and the refinancing of up to $500 million in existing debt was anticipated to occur before the end of September to carry projects forward into the spring of 2011.Posted: October 1st, 2010 | Author: Art Gallagher | Filed under: Uncategorized | Tags: James Sampson, Legislature, NJDOT | Comments Off on Transportation Construction Halted Due To Legislature’s Inaction