The I-485 loop that has been the subject of debate for sometime now will apparently be completed using a process never before used in the state of North Carolina. In the plan called ‘design-build-finance’, contractors will help pay for the cost of completing the beltway upfront and will then be reimbursed on the back end.
Typically, most road construction projects follow a ‘design-build’ process whereby contractors are responsible only for designing and building the roadway. In this scenario, they would also join in the financing of the project as well.
This new process supposedly offers a streamlined method for completing the project that has been a hot topic since Gov. Purdue took office last year.
I for one am curious to see how well this process plays out. Call me a bit of a skeptic, but I don’t have a whole lot of faith in a government that’s already operating in the red and current projections don’t look very promising either.
While I do believe in allowing private enterprise to help us correct many of the problems we now face, I’ll be curious to see how the back-end financing portion works out for the participating contractors.
Regardless, I think it’ll be a good thing to have the project completed, now projected to occur around 2014. This 1-485 project has dragged on for waaaaaay too long already and it will certainly help the entire Charlotte area as it continues to grow and expand.