HB23 Would Allow Public Financing Of KABATA

With a 16-4 vote on Saturday, the state Senate approved House Bill 23, allowing public financing of the Knik Arm Crossing. The approval moves the $892 million project forward by updating the project’s financial model. The bill allows funding for the bridge to come from three public entities: one third from bonds, one third from National Highway System funds, and the final third from federal loans.

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