7/21/08-Gov. Mike Easley has signed into law a budget that includes a provision that allots the North Carolina Turnpike Authority $25 million annually to help pay off the cost of construction for the southern portion of a proposed extension of Interstate 540, dubbed the Triangle Expressway. The appropriation is slated continue for 39 years to help build the 18.8-mile stretch of roadway.
Also included in the budget bill – HB2436 – is funding for three other planned toll projects.
Money for the Triangle Expressway will come via a phase-out of the $172.5 million that annually is rerouted from the state’s Highway Trust Fund to the General Fund. It will help make up the difference between the amount of revenues the state expects to generate from tolls and the total cost – about $1 billion – to build and maintain the Expressway.
The roadway could be opened by 2010 and will extend I-540 from Morrisville to Holly Springs. The route is slated to be toll free north of state Route 55.
Other projects slated for funding in the budget include the Monroe Connector/Bypass. Starting in fiscal year 2009, the 21-mile planned roadway in Union County would get $24 million a year.
Also in fiscal year 2009, the Mid-Currituck Bridge project over the Currituck Sound will begin receiving $15 million annually. The following year, $35 million will start being allotted for the 15-mile Garden Parkway project in Gaston and Mecklenburg counties.

7/11/08-House and Senate lawmakers agreed to send Gov. Mike Easley a budget that includes a provision allotting the North Carolina Turnpike Authority $25 million annually to help pay off the cost of construction for the southern portion of a proposed extension of Interstate 540, dubbed the Triangle Expressway. The appropriation would continue for 39 years to help build the 18.8-mile stretch of roadway.
Also included in the budget bill – HB2436 – is funding for three other planned toll projects.
Money for the Triangle Expressway would come via a phase-out of the $172.5 million that annually is rerouted from the state’s Highway Trust Fund to the General Fund. It would help make up the difference between the amount of revenues the state expects to generate from tolls and the total cost – about $1 billion – to build and maintain the Expressway.
The roadway could be opened by 2010 and would extend I-540 from Morrisville to Holly Springs. The route is slated to be toll free north of state Route 55.
Other projects slated for funding in the budget include the Monroe Connector/Bypass. Starting in fiscal year 2009, the 21-mile planned roadway in Union County would get $24 million a year.
Also in fiscal year 2009, the Mid-Currituck Bridge project over the Currituck Sound would begin receiving $15 million annually. The following year, $35 million would start being allotted for the 15-mile Garden Parkway project in Gaston and Mecklenburg counties.
For bill status, call (919) 733-9390.

6/11/08-The House has approved funding for a toll road in western Wake County.
The budget provision in HB2436 would allot the North Carolina Turnpike Authority $25 million annually to help pay off the cost of construction for the southern portion of a proposed extension of Interstate 540, dubbed the Triangle Expressway. The appropriation would continue for 39 years to help build the 18.8-mile stretch of roadway.
Money for the roadwork would come via a phase-out of the $172.5 million that annually is rerouted from the state’s Highway Trust Fund to the General Fund. It would help make up the difference between the amount of revenues the state expects to generate from tolls and the total cost – about $1 billion – to build and maintain the Expressway.
The roadway would extend I-540 from Morrisville to Holly Springs. The route is slated to be toll free north of state Route 55.
It now is up to the Senate to approve the expenditure included in the budget bill.
For bill status, call (919) 733-9390.