"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Posted on 07/21/2007 9:29:09 PM PDT by Free_SJersey
State Treasurer Bradley Abelow has made what a the very least can be constued as a veiled threat to mayors in the state to not oppose Governor Corzine's "double secret" plan to privatize the toll roads in the state until the details are released (not expected until after the November elections).
He must have attended Texas Governor Rick Perry’s workshop on privatizing toll roads.
I don’t understand why the Feds don’t make a condition of the funding of the interstate system that it be toll free.
The interestate system should not have tolls at all.
http://www.nj1015.com/absolutenm/templates/?a=7281&z=0
Governor Tight-Lipped About Turnpike Lease
Wednesday, July 18, 2007 - Millennium Radio New Jersey
When it comes to a plan to sell or lease New Jersey toll roads, Governor Jon Corzine is keeping his cards close to his vest. New Jersey’s chief executive is refusing to give details of the plan or say when the proposal may be ready.
Republicans have called on Corzine to make documents available that pertain to the plan. Corzine says there will be plenty of time for feedback once the proposal is complete. “The legislature and everyone will have a chance to express their opinions but they ought to express them on the facts, not on their speculation,” said Corzine. He says at least one public hearing will be held in every Jersey county.
The Governor says there are some issues that have to be worked out before the plan can be released. “Tax exemption being one of the issues. We have some governance issues that need to be resolved. When those things are complete, we’ll do it,” Corzine said.
Corzine maintains that taking time to craft the plan is the right move. “I would rather do it right than some of the half-baked financing programs that we’ve had in the past that end up hurting the New Jersey public, not helping them,” Corzine said.
I don’t think the feds have anything to do with NJ Turnpike.
Well, it’s a part of the Interstate system. It’s I-95.
http://www.nj1015.com/absolutenm/templates/?a=7294&z=0
GOP Still Demanding Toll Road Info From Governor
Whether it is saving open space, improving the transportation infrastructure or lowering taxes for the business community, Governor Jon Corzine is hinting that monetizing toll roads could help provide the needed cash. Corzine continues to try and drum up support for his still secret scheme.
“The Governor, unfortunately is worrying about the special interest when he should be worrying about the taxpayers of New Jersey who should really be his special interest,” says Assembly Republican Leader Alex DeCroce, “before he tells the special interest I think he should tell the general public exactly where he’s going with this plan.”
“I wish I could tell you all the details of the plan right now, but these things don’t just snap, happen,” said Corzine on June 29 regarding his still secret Turnpike monetization plan. He explained just before signing the State Budget, “We need a solid debate on a solid program that gives us the ability to invest in our future and I’m going to fight for it.”
DeCroce says he’s still outraged that the Corzine Administration continues, “to drag its feet,” in providing documents on the proposed toll road asset sale plan requested under an Open Public Records Act (OPRA) request filed last month. He says, “The fact of the matter is, he (Corzine)doesn’t want the plan to be exposed until after the general election....he’s just worrying about keeping it quiet until after the election because he knows there is going to be a necessity for heavy toll increases.”
Last week, the State Department of Treasury sent a letter to the Assembly Republican Office stating that, “your OPRA request is so broad as to constitute a request for information that must be researched, analyzed and collated by the Department of the Treasury……if a search for responsive records were to be undertaken, the number of potentially relevant documents is so voluminous that it would cause a substantial disruption of the operations of the Department of the Treasury’s Office of Public Finance . . .”
“Treasury has had almost three weeks to pull this information together and even requested a six-day extension, yet now they tell us they cannot comply,” says DeCroce. He adds, “If the Corzine administration doesn’t have any details to share with the public about what it has planned for our toll roads, why is there such a ‘voluminous’ amount of material related to this sale? It is time for Governor Corzine to come clean and tell the public what kind of deal he is crafting.”
Tuesday, Corzine said, “The legislature and everyone will have a chance to express their opinions but they ought to express them on the facts, not on their speculation…..We have some governance issues that need to be resolved. When those things are complete, we’ll do it…..I would rather do it right than some of the half-baked financing programs that we’ve had in the past that end up hurting the New Jersey public, not helping them,”
“The Governor has been very aggressive about spinning what his plan won’t include, but very secretive about disclosing what the plan will include,” says DeCroce. He feels, “Instead of spending his time and resources lobbying insiders about his ‘core principles,’ the Governor has an obligation to tell all of the state’s taxpayers what his plan includes and how it will impact them.”
State Treasurer Brad Abelow has reportedly said that whatever the plan is or is not, toll hikes are inevitable. Asked about this last week, Corzine said, “You can’t make a statement about what is appropriate on tolls unless you can say what benefits you are going to be able to provide…..I’m not going to speculate about that and first of all, we’re taking about over a long period of time.” The Governor does admit, New Jersey needs a cash infusion, “The fact is, there is no financing plan for the widening of the Turnpike and the fact is, we should be widening the Turnpike all the way to the Delaware Border.”
“We ought to think these things through to their conclusion so that we have something that will work, not something that is politically attractive,” says the Governor. Perhaps attempting to make a toll increase more palatable, Corzine points out, “54% of the tolls collected on the Turnpike aren’t from New Jersey.”
“I have a vision for a brighter New Jersey, but today we cannot afford the investments to make that vision a reality. I fundamentally believe we need new resources and renewed political courage to make those investments,” said Corzine in June. The State’s chief executive blasted critics of his plan to monetize state assets like the New Jersey Turnpike. He still claims they’re dismissing a plan before they even know what the plan is. His critics claim that is the problem; Corzine continues to tell the public what is not included in his plan but he has yet to tell citizens what is in his plan.
Shortly after signing the $33.5 billion State Budget, Corzine laid out eight core principles for any monetization deal. They are; New Jersey’s roadways will not be sold; and they will not be leased to a for-profit or foreign operator, allowable uses of proceeds (reducing State debt and capital investments) will be identified upfront and subject to public and/or legislative approval with safeguards against diversions for other uses, New Jersey citizens will retain ownership and the benefits from both initial proceeds and ongoing operations, safety, maintenance and operating standards will be provided at current or improved levels, sufficient funding to meet the long-term capital needs required to improve our roadways and reduce congestion will be provided, terms and conditions of employment for current employees and contractors will remain unchanged with prevailing wage and competitive contracting procedures retained, toll schedules will be open, predictable and available to the public, and there will be a substantial, open and public discussion in advance of any transaction. I will hold 21 town hall meetings in 21 counties.
Democratic Assembly Speaker Joe Roberts says, “The Governor could not have been any more succinct: New Jersey’s toll roads must not be sold or leased to any profit-seeking company or foreign entity…..the eight guiding principles unveiled today will ensure that the public retains ownership of the state’s toll roads and that no plan will advance without their input.”
GOP State senator Tom Kean wants to know when the details of a deal will be released, “The Democrats’ unwillingness to publicly discuss this matter only reinforces suspicions that this is the ultimate one-shot, financial gimmick that won’t solve the state’s budget problems that will lead to huge toll increases and reduced highway maintenance. This increasingly looks like another device to keep the financial shell game in Trenton afloat.” He adds, “The budget gives the Corzine Administration a blank check to secretly arrange a deal to sell off state assets and then, after Election Day, when the deal is finalized have the lame duck Legislature rubber stamp it.”
“There is no intent to bring this up in lame duck,” claims Corzine.
John Wisniewski, chairman of the Assembly Transportation Committee says, “While I wish language regarding asset monetization could have been entirely stricken from the budget, it is reassuring to see the Governor embracing principles that I have advocated all along in opposing a sale or lease of state roads…..this certainly lends clarity to the asset monetization issue.”
The word “sale,” has been eliminated from the language in the budget bill leading GOP State Senator Gerry Cardinale to say, “It’s not a sale and it’s not lease; it is 99 years of guaranteed toll increases for New Jersey’s middle class families.”
Corzine decries those who ridicule a plan that has yet to be introduced saying, “That’s not political courage, that’s political demagoguery.”
There is a long, unclear story about this....
Something about the bonds....and then borrowing on top of the borrowing....
It gets confusing.
Yeah.. everything in NJ politics is confusing because everything needs to obfuscate the massive corruption and back room dealing. Hard to figure out what the real story is on anything.
You can say that again.
feds normally don’t provide road funds for toll roads.
The interestate system should not have tolls at all.
The interstate highway system was started under Eisenhower. Part of their role was for national defense. All the highways were toll free except for a few in the East. These few toll roads issued 30 year bonds to pay for their construction. Tolls were to pay off the bonds and tolls were to stop being collected after the roads were paid off
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
The financial genius Corzine can't figure out that what makes sense is cutting spending now. I know sooo many stories of state workers who play computer games all day. And the NJDEP, which people think is a strong environmental agency, is a total joke. They do less than nothing. Lawyers on that payroll are sitting in the office with absolutely nothing to do. But Corzine has refused to reform the bureacracy.
The same holds true for other toll roads in the Northeast -- including the Pennsylvania Turnpike, New York State Thruway, etc.
This unique characteristic has made these roadways exempt from many of the Federal regulations governing the interstate highway system.
That’s it. And there are more odd stories about the bonds too. Thanks.
Is the Turnpike part of the parking authority at all?
Not parking, I meant Port Authority.
And I see they are bond holders, anyway.
But is the Turnpike an entity of the Port Authority?
AFAIK the Port Authority and the Turnpike are entirely separate.
The NJ Turnpike Authority and the Port Authority are two different agencies. The Port Authority is a bi-state agency operating under a specific agreement between New York and New Jersey. I believe the governor of New York appoints the executive director, while the governor of New Jersey appoints the members of the board of directors.
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