Friday, March 15, 2002
State releases road repair funds
The release of $50 million in Chapter 90 funds last week will aid local communities as they prepare for town meetings and the spring construction season. According to an analysis by Senator Susan Fargo, a member of the Transportation Committee, Carlisle town coffers will get $67,563.
Communities receive the repair funds based on a formula that accounts for the number of miles of local roadway, population and employment rate. Chapter 90 monies allow the Commonwealth's 351 cities and towns to move forward on the projects they prioritize.
The funds are the third installment of a capital projects bond that was acquired in 1999. The release of this money will bring the total allocation for Chapter 90 up to $100 million for the 2002 fiscal year. In addition, the Senate last month passed a bond bill that dedicated $220 million in capital authorizations to support a $150 million annual local road program through 2006.
"The budget was grim last year, especially for local road projects. This year, the situation looks much worse, with an estimated $2.5 billion revenue loss. For communities to receive these funds during this difficult economic period is significant," said Fargo.
© 2002 The Carlisle Mosquito