On
February 14 Governor McGreevey announced a plan to merge
the New Jersey Turnpike and the Garden State Parkway.
Consolidation will result in savings, efficiency and
unified transportation planning. The Senate in March
passed enabling legislation.
The
Garden State Parkway and the New Jersey Turnpike were
established more than 50 years ago to provide an efficient
roadway network. These goals have been accomplished
and the two authorities have carried out their mission
well. However, over the past 15 years, the infrastructure
needs on both highways have outpaced the resources available;
the lack of coordination has only exacerbated the problem.
The
Governor's consolidation plan addresses the issue by
providing for pooled resources and a unified transportation
policy. A consolidation will yield two roads with uniform
purpose, uniform principles, and uniform policy, poised
to deliver the safe and efficient transportation network
New Jersey residents deserve.
During
the first year, we will save $4 million in operating
costs and eliminate more than 130 positions as we merge
administrative, purchasing, legal, human resources,
auditing and personnel functions. The operating savings
will increase each year, reaching $9.8 million annually
by 2008.
Operational
savings are only part of the picture. The fact remains
that while we've come a long way to fixing the fatal
flaws plaguing the E-ZPass system we inherited, $300
million in debt remains. Simply put, the Parkway does
not have the money to continue paying its share of the
E-ZPass debt.
Without
this merger, a toll hike on the Garden State Parkway
is inevitable in the near future. And that is unacceptable.
By
refinancing outstanding E-ZPass debt, along with existing
Parkway and Turnpike debt, we will save roughly $15
million annually on debt service, avoid a Parkway toll
hike and put E-ZPass on firm financial footing. From
there we can ensure the continued viability of E-ZPass
and faster implementation of high-speed
E-ZPass.
Fiscal
arguments aside, the merger makes good planning sense.
For too long, New Jersey's transportation planning network
has been a fractured conglomeration of agencies and
authorities. Under the proposed legislation, the New
Jersey Turnpike Authority will be required to submit
its capital program to my office for review and approval,
ensuring that the Governor's Smart Growth and Fix It
First goals are incorporated into future projects on
the Turnpike and Parkway.
