Why is the proposed 10-lane Massey Bridge so overscaled and hence so expensive? Because it is essential to the care and feeding of Motordom – the vehicle-dominant transportation system that has shaped our urban regions for most of a century.
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The caring part we know about it: keeping the traffic moving.  It is why so much infrastructure, especially the Massey, is devoted to addressing the problem of congestion, even though regionally there is little chance of success it will do so.
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The feeding part is less visible: the massive amount of debt accrued to build and then maintain a constantly expanding road-based system.  That debt and the interest payments are often a more important outcome than the infrastructure financed by it, which from a truly inclusive cost/benefit analysis would not be justified.
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Governments have been pretty much committed to trying to hide the costs of Motordom, at least to the individual driver/taxpayer.  We like it that way.  It’s the ‘Next trip is free’ syndrome.
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So Massey can be thought of as a bridge whose foremost function is the paying of debt*, given that it is low on the regional priority list, it is so grotesquely overscaled, and the problems of congestion can be addressed in far cheaper ways with less negative consequences.
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The additional debt is being accrued because the decision-makers believe that the public will go along with the price tag so long as the improvement in congestion is dramatic and the cost to the individual user isn’t too high.**
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The financial industry, particularly the bond market and those who put the funding package together, are primarily interested in having another expensive piece of infrastructure to keep the money machinery well greased.  They encourage a much larger structure than necessary.  They know it will only move the congestion literally down the road.  It’s then only a matter of time before another massive structure will be needed.
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And that’s the point.
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“financing costs for the bridge will add another $8 billion in costs that British Columbians will be paying for the next 50 years – bringing the total bill to nearly $12 billion.

“The total interest costs between 2017 and 2068 – when the debt would be retired – would be $8 billion.

“The two-page document shows the province proposes to raise the capital for the bridge through the issuing of 18 bonds, at $200 million to $525 million each, with various maturity terms.”

** Minister Stone: The reason we’re doing it is to keep toll rates low for commuters.”