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Press Release: July 20, 2011

Governor Kitzhaber statement on Treasurer Wheeler’s CRC report

Governor accepts recommendations and directs CRC to move forward with them

(SALEM, Ore.) —  Governor Kitzhaber released the following statement on Treasurer Wheeler’s CRC Report:
 
'I want to thank Treasurer Wheeler for his good work and helpful recommendations for the Columbia River Crossing project. His review validates much of the CRC’s work but also makes tangible recommendations that reduce and manage risk, which will be very useful as we clarify the next steps for the project. The Treasurer’s updated work reflects a slower rate of employment; clearly, this recession has been deeper and longer than expected.
 
The CRC is incorporating the Treasurer’s recommendations, which means a less risky, more conservative approach. The work will incorporate a level debt service and revenue projections that reflect the impacts of the recession on traffic projections. 
 
The Treasurer also identified potential replacement revenue strategies, which I appreciate and am willing to explore. But I believe that if we are going to get the CRC done, it is time to start planning for a project that adapts to the available resources and fits into today’s economic reality. To that end, I am going to ask the Oregon Department of Transportation and the CRC to prepare a sequencing plan that accommodates anticipated cash flow. This work will be part of a conversation with Governor Gregoire and our respective interim legislative committees."

Media Contacts:
Christine Miles,Governor Kitzhaber, 503-559-8795
Amy Wojcicki, Governor Kitzhaber, 503-689-5324

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