How would a tunnel project or other construction alternative be funded?
The Navy, being a stakeholder in the SR-75/282 Corridor Project is a participating agency assisting the City on a long term solution to the congestion problem. Any solution that involves a tunnel or any other major construction project would require funding from Federal, State, regional and local sources. Potential Federal sources include the Federal Highway Administration, the Department of Defense, and Department of Homeland Security. Potential State sources include the State Interregional Transportation Improvement Program, and the State Infrastructure Bond Program. Regional sources include $25 million already designated through TRANSNET to help fund construction of a tunnel project, and local sources could include the use of reserves, tolls(2), or taxes (which would require a vote of the people). The Financial Strategy Report dated July 2007 provides an in-depth look at all potential funding sources. 2.
