On Tuesday, more than 70 percent of Maine voters voted to approve Maine Question 2, the Transportation Infrastructure Bond Issue.
A “yes” vote meant the voter supported $100 million in general obligation bonds for transportation infrastructure projects. Of the total, $15 million would be allocated for rail, aviation, ports, and active transportation, and $85 million would be allocated for highways and bridges.
The bond issue was designed to leverage approximately $253 million in federal and nonstate funding through matching grants and programs.
Bonds are repaid through state revenue sources, and the Transportation Infrastructure Bond Issue has an estimated cost of $127.5 million. Of that, $100 million in principle and $27.5 million in interest, assuming a 5 percent interest rate over 10 years.
The $15 million will be applied toward facilities or equipment related to active transportation projects, aviation, freight and passenger railroads, marine transportation, ports and harbors, and transit.
The $85 million will be used to construct, reconstruct, and rehabilitate bridges and Priority 1, Priority 2, and Priority 3 roads.
Legislation enacted in 2011 required the Maine Department of Transportation (MaineDOT) to categorize the state’s highways from Priority 1 to Priority 6. The department uses factors such as the federal functional classification system, regional traffic volumes, regional economic significance, and heavy haul truck use.
Priority 1 roads are interstate and all other National Highway System (NHS) corridors. Priority 2 roads are high-priority, nonNHS system corridors. Priority 3 roads are Baileyville to Houlton Route 1; China-Hampden Route 202; Cornish-Fryburg Route 5; and Lincoln-Topsfield Route 6.
Following the passage of the bond issue, MaineDOT Commissioner Bruce Van Note issued a statement.
“On behalf of the nearly 1,700 dedicated and hardworking team members at the Maine Department of Transportation, I want to thank Maine voters for approving Question 2 today,” he said. “We are fortunate that Mainers historically have shown overwhelming support for transportation funding, and this year is no different. We never take that support for granted. Thank you.
“The $100 million general obligation bonds connected to Question 2 will trigger up to $253 million in other investments from federal, local, and private partners. Combined, this funding represents about 40 percent of what MaineDOT spends on transportation funding every year. These dollars are critical to our mission. Without these funds, we simply could not do our job for the people who live, work, and travel in Maine.”
Between Jan. 1, 2007, and Jan. 1, 2021, Maine voters cast ballots on 41 bond issues, totaling $1.55 billion in value. All but one passed.
In the past 14 years, 11 bond issues with a combined total of $989.53 million addressed transportation. They all were approved.