Why is the BC government paying over $63 million dollars a year to the private partners of the Sea to Sky highway?
Could it be, that just might have something to do with the cost of the shadow tolls on the highway for the year ending March 31st, 2011? Hmmm?
Can the Liberals answer that question for us please?
My very good friend at Blog Borg Collective, who is one of the best data miners I have met and worked with in my entire career, discovered the handsome payout to the Sea to Sky Highway Investment limited partnership in the provinces Open Information system,and wow, did that ever get my attention.
Even more so because that P3 deal has already been flipped by one of the partners who clearly made everything invested and more, thanks to everyone driving that highway….
As he states in this fabulous blog post :
“…Colin Hansen constantly stood up in the Legislature and crowed about how the Sea to Sky Highway was only going to cost taxpayers $600 million, and then in this Fiscal Year Ended March 31, 2011 the public gets nailed with a $63 MILLION dollar bill, AND we will get nailed $63 Million dollars every year, for the next Twenty-Five years, until the total cost ……
… Laila Yuile last year gave us the heads up on the Shadow Toll on the Sea to Sky Highway. Now we know its costing us over $63 million per year. The Road Counters embedded in the road are not visible to British Columbians, but every other highway is……. and now we know why”
Well I think you can do the math on that. And considering the William R. Bennett Bridge and the Kicking Horse pass have the same shadow toll deals on the financing with their private partners… you decide if the taxpayers achieved value for cost.
As BC Mary would say: ” Move along folks, nothing to see here, no, nothing at all..”
Hats off to NVG for this stunning find! Brava.
( if you want to read more about those shadow tolls, head on up to the Best Of page above and scroll down to read the entire series, or click on the link above to read Mark Humes take on the entire debacle. )