Texas tollway bankruptcy spurs reassessment of I-77 expansion near Charlotte
The bankruptcy of a Texas tollway project has given Gov. Pat McCrory an opening to "reassess" an unpopular project near Charlotte spearheaded by the same company.
Posted — UpdatedThat company is 65 percent owned by Spanish toll road builder Cintra, the same company with whom the state of North Carolina has contracted to build the I-77 toll lanes in the Charlotte area.
In a news release, North Carolina Department of Transportation Secretary Nick Tennyson said North Carolina officials learned of the Texas company's bankruptcy late Wednesday night.
"The governor has directed us to immediately review every available option – both legal and financial – to reassess the I-77 Mobility Partner’s business model and current contract," Tennyson said. "Therefore, I will be going to Austin on Monday to meet with Texas DOT representatives to assess the situation. It is important to note that the current contract protects taxpayers from financial losses."
"In light of this company's bankruptcy, even Governor McCrory has to admit now that he cut a bad deal for North Carolina," Attorney General Roy Cooper said Thursday morning.
Cooper, a Democrat, could face McCrory in the fall general election.
"He should stop stalling and cancel this contract that never should have been signed to begin with," Cooper said. "Unfortunately, this boondoggle will leave people who deserve better waiting in traffic."
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