GARVEE bonds are best bet for helping state's highways

Idaho's highways help and it looks like the $1.6 billion Grant Anticipation Revenue Vehicle bonds are the best way to get there.

The plan calls for improving 258 miles of highway throughout the state through federal GARVEE bonds.

The state predicts the proposal will create 75,200 jobs in construction and service sectors and will be a $4.6 billion benefit to the state's economy. Foes, so far, have centered their arguments on the fact that Idaho is mortgaging its future by taking out what essentially is a loan.

Bonner and Boundary projects are well represented on this roadmap, with $157 million being slated for Highway 95 to become a four-lane highway from Sagle to Garwood being one of the largest projects on tap.

Boundary County's major project would be to complete a four-lane road from the junction of Highway 1 to the Canadian border.

ITD director Dave Ekern said GARVEE recently GARVEE bonds allow the state to use future federal revenues as the main source of funding. Although they are a new transportation funding tool, their record is spotless. About 15 states have used the bonds since 1998.

In an analysis of a sample $100 million project, Idaho would save $7.5 million in total dollars paid by using GARVEE bonding over the traditional funding method. The bonding method would not impact other state projects — including the Sand Creek Byway.

It is unclear when this measure will be discussed in Boise but it will show up this session.

It is our thought that if we can create jobs, save tax dollars and improve roads, why not examine the GARVEE proposal?

The spotless record of this program also gives us comfort.

Give our legislators a call in Boise and let them know what you think.

David Keyes is publisher of the Daily Bee.