The bridge would reduce traffic on U.S. 158, provide better storm evacuation and could attract more business to the area. But many have opposed its construction based on concerns over
Mid-Currituck bouncing costs 2011-2016
2011 N.C. Turnpike Authority Annual Report: $580 million.
November 2011 Report to the J.L.T.O.C.: $665 milion: Note: Cost jumps $85 million.
2012 N.C. Turnpike Authority Annual Report: $550 Million. Note: Cost drops $115 million.
October 5, 2012 Report to J.L.T.O.C.: $651 million. Note: Cost jumps back up $101 million.
2013 N.C. Turnpike Authority Annual Report: Preliminary cost estimates for the project are between $470M and $600M. Note: Cost drops $51 million.
2013 S.T.I.P. $586,140,000
2014 Annual Report N.C. Turnpike Authority: New legislation was passed in North Carolina (House Bill 817-An Act to Strengthen the Economy through Strategic Transportation Investments) and was signed into law on June 26, 2013. The new law includes the creation of the Strategic Mobility Formula and includes changes to the annual appropriations (GAP funds) dedicated to the NCTA projects. The Strategic Mobility Formula is a new way to fund and prioritize transportation projects to ensure they provide the maximum benefit to the State of North Carolina. The annual appropriation of $49 million for the Triangle Expressway ($25 million) and Monroe Bypass ($24 million) projects remains under the new law while the annual appropriations for the Mid-Currituck Bridge and Garden Parkway projects were removed.
November 2014 the federally approved STIP cited a cost of $621 million. Note: Cost jumps back up $35 million.
2015 N.C. Turnpike Authority Annual Report: No cost estimate provided.
December 3, 2015 S.T.I.P. $439,985,000
There are many concerned citizens and vacationers that support the SELC in their efforts against Mid-Currituck Bridge, an unnecessary, extremely expensive, and environmentally damaging project.
The cost of the project has ranged from $750 million in a 2010 Letter of Interest for a federal T.I.F.I.A. loan to a “normalized cost” of $410 million for scoring purposes only during the P3.0 process. As recently as November 2014 the federally approved STIP cited a cost of $621 million. One month later the new draft STIP listed the cost at $475 million, $65 million more than the cost used for scoring. Now the NCDOT claims the project cost is $435 million. The Public Private Partnership has been cancelled and the annual $28 million per year “gap” funding has been removed from state statute. The NCDOT has not explained the drastic $200 million drop in the price tag so that’s why the lawsut.