Baldacci unveils $306M bond package
Gov. John Baldacci yesterday released the details of a three-year bond package that would invest $306 million in energy independence, highways and bridges, passenger and freight rail, higher education, innovation and the environment.
The investment package includes:
• $127.8 million for transportation projects, including roads, bridges, rail, ferries and aviation
• $52 million for energy upgrades and building improvements at the state's universities, community colleges and Maine Maritime Academy
• $15.5 million for energy conservation and the development of offshore wind power
• $67.5 million for competitive research and development grants, economic development and the redevelopment of Brunswick Naval Air Station
• $43.4 million for the Land for Maine's Future, working waterfronts, clean water and environmental protection
If enacted, Gov. Baldacci's investment package would go to voters in two rounds of voting, with $265.8 million on the November ballot and $40.4 million on the June 2010 ballot, according to a press release from the governor's office. The $306 million would trigger another $380 million in federal matching funds and create 4,500 jobs on top of the jobs expected from Maine's share of the federal stimulus package, according to Statehouse News Service.
Next week, the Legislature's Appropriations and Financial Affairs Committee will begin reviewing the roughly 30 bond proposals submitted by the governor and legislators. While Democrats support the governor's bond package, Senate Minority Leader Kevin Raye (R-Perry) told the news service that the proposal needs further study before his party takes a position.
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