The future economic wellbeing and quality of life of the St Louis region depends heavily on launching construction of the new bridge as soon as possible. Both the Missouri and Illinois Departments of Transportation believe that, with a financing plan in place, construction can begin in 2007. We believe that a public-private partnership is a viable mechanism to close the funding gap between federal funding and the estimated cost for constructing the bridge and would enable the most expedient completion of the project. Every year of delay on the bridge undermines the economic viability of the region's core and subjects its citizens to unnecessary hazards delay and stress. Delays will also likely engender significant increases in the final cost of the bridge.
We are aware that there are some concerns, especially by Illinois leadership, concerning tolls, but the use of the I-70 Toll Bridge would be optional. Those who do not want to pay a toll will be able to continue to use the Poplar Street and other free bridges. To generate usage, the concessionaire investors will have to provide a service reflected in time savings and comfort significantly valued by commercial and public motorists. The concessionaire will have a powerful incentive, therefore, not to overspend on the bridge, or overcharge for tolls, while designing sufficient capacity. Once built, the bridge must be effectively managed to provide superior service, as the bottom line will depend on attracting motorists who have alternative routes. In addition, because of potential cost savings to both states, some initial toll subsidy called "shadow tolls" could be explored by either state.