The Columbia River Crossing’s financial prospects received a potential boost on Friday, as Oregon Gov. John Kitzhaber set aside key funding for the project in his recommended two-year budget.
The Democrat’s proposed 2013-15 budget includes $450 million for the CRC. That’s roughly the share Oregon is expected to come up with as part of the project’s $3.5 billion price tag. CRC planners are banking on Washington lawmakers to commit about the same amount, though project leaders have suggested that may not have to come all at once.
Kitzhaber’s budget outline doesn’t guarantee funding for the CRC — far from it. That will ultimately be up to the Oregon Legislature, which convenes in January. Democrats will, however, control both the state Senate and House in the upcoming session.
Kitzhaber’s budget recommends that Oregon invest $450 million through “highway revenue bond proceeds.” That means the state would borrow the money, then pay it back gradually through a transportation-related revenue source, said Kitzhaber spokesman Tim Raphael. That may include vehicle registration fees in Oregon, for example, but the governor hasn’t specified where exactly that money should come from, Raphael said.
