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Well how selfish of us not to want to spend billions of dollars to improve your property value.
Yes it is selfish of you and as I pointed out earlier shortsighted. The additional tax revenue from the property value increases would more than offset the cost of the tunnel.
Newark is a growing job hub , i think we should invest more into that. Upgrade all the Railways and Highways that feed into the city and build more lines. Like the Newark - Paterson and Newark - Elizabeth Light Rail or PATH.
Yes it is selfish of you and as I pointed out earlier shortsighted. The additional tax revenue from the property value increases would more than offset the cost of the tunnel.
Some questions on this:
1. I wonder how the property tax cap would impact this? If those towns are already going to be at the 2% cap regardless of increase in house value what happens then?
2. Where does that increased revenue go? To the state or the local gov't?
Location: The place where the road & the sky collide
23,813 posts, read 34,657,307 times
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Quote:
Originally Posted by PhillyPhilsPhan
I'm sure C.C. looked at all of the numbers and decided that the additional debt for the state wasn't worth it. I will point the finger for this failure right at the Obama administration where it belongs. They run up 5 trillion in debt in an attempt to jump start the US economy, and there's no money for this major project? Unbelievable.
There is no way that this should be blamed on Obama. This was not gift money like the 1st round of stimulous money. This was money to add to state money to get projects started.
NC & VA have been funding their own studies etc. for upgrading the DC to Charlotte rail corridor for high speed passenger rail for years. VADOT got money from the feds for the DC to Richmond run & NCDOT got money for the Raleigh to Greensboro to Charlotte run. Both states had money set aside for these projects & the additional federal money lets them start the physical work. A requirement for this particular stimulus money was that it had to be shovel ready & the individual state had to kick in money.
Because of the federal money, NCDot was able to juggle things & is currently working on some projects that were slated for next year.
If this means that it frees up more money, I hope that VA & NC can get some additional money to fund the Richmond to Petersburg to Raleigh run.
There is no way that this should be blamed on Obama. This was not gift money like the 1st round of stimulous money. This was money to add to state money to get projects started.
NC & VA have been funding their own studies etc. for upgrading the DC to Charlotte rail corridor for high speed passenger rail for years. VADOT got money from the feds for the DC to Richmond run & NCDOT got money for the Raleigh to Greensboro to Charlotte run. Both states had money set aside for these projects & the additional federal money lets them start the physical work. A requirement for this particular stimulus money was that it had to be shovel ready & the individual state had to kick in money.
Because of the federal money, NCDot was able to juggle things & is currently working on some projects that were slated for next year.
If this means that it frees up more money, I hope that VA & NC can get some additional money to fund the Richmond to Petersburg to Raleigh run.
I don't think I'd blame it on Obama but out of the $787 Billion American Recovery and Reinvestment Act, they can't take 1% of it to put towards the largest transportation project going on now? And I could be mistaken but I thought ARC work was currently being done already...like I thought I saw pictures somewhere where the beginning of the ARC tunnel in North Bergen was supposed to be and work was already on it. And hasn't lands been already bought up for it already or is that still going on? I guess I thought the ARC tunnel was already done with research mode and they were beginning to build it.
[quote=southbound_295;16432217]There is no way that this should be blamed on Obama. This was not gift money like the 1st round of stimulous money. This was money to add to state money to get projects started.
NC & VA have been funding their own studies etc. for upgrading the DC to Charlotte rail corridor for high speed passenger rail for years. VADOT got money from the feds for the DC to Richmond run & NCDOT got money for the Raleigh to Greensboro to Charlotte run. Both states had money set aside for these projects & the additional federal money lets them start the physical work. A requirement for this particular stimulus money was that it had to be shovel ready & the individual state had to kick in money.
Because of the federal money, NCDot was able to juggle things & is currently working on some projects that were slated for next year.
If this means that it frees up more money, I hope that VA & NC can get some additional money to fund the Richmond to Petersburg to Raleigh run.[/quote]
Agreed I think they did it right Sounds like they at least saved money because they knew of the importance. And now getting stimulus money is an unforseen bonus for them but their projects could continue with or without the stimulus money.
Location: The place where the road & the sky collide
23,813 posts, read 34,657,307 times
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Quote:
Originally Posted by mgt04
I don't think I'd blame it on Obama but out of the $787 Billion American Recovery and Reinvestment Act, they can't take 1% of it to put towards the largest transportation project going on now? And I could be mistaken but I thought ARC work was currently being done already...like I thought I saw pictures somewhere where the beginning of the ARC tunnel in North Bergen was supposed to be and work was already on it. And hasn't lands been already bought up for it already or is that still going on? I guess I thought the ARC tunnel was already done with research mode and they were beginning to build it.
I don't know the details. But there are specific rules for this stimulus money. Why should the feds give the money to North Jersey (This has zero benefit for 99% of the people in South Jersey, as has already been noted in the thread.) California got a big lump sum & they had to scrape together state money.
If Christie is going to pull the state funds it's on him, 100%. If the land is purchased & work has started, then pulling the plug is just pig-headed. This is about as ridiculous as the current governor of SC who refused the original almost no strings attached stimulous money & was forced to take it by the state legislature, there.
All of the other recipients of this money had to scrape together state funds. Every state is having budget problems, not just NJ. How the individual states decided to use the stimulous money will make a difference on how soon they come out of this mess.
Bravo Governor Christie..IT's about time someone has the good sense to stop this bull@*&^. Do we
really need this burden on the taxpayers?
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Sounds like they at least saved money because they knew of the importance. And now getting stimulus money is an unforseen bonus for them but their projects could continue with or without the stimulus money.
