{"id":260,"date":"2022-06-15T13:46:59","date_gmt":"2022-06-15T13:46:59","guid":{"rendered":"https:\/\/www.bondingspecialist.com\/blog\/?p=260"},"modified":"2023-10-27T19:48:51","modified_gmt":"2023-10-27T19:48:51","slug":"mdot-showcases-roadwork-funded-by-whitmer-bonds","status":"publish","type":"post","link":"https:\/\/www.bondingspecialist.com\/blog\/mdot-showcases-roadwork-funded-by-whitmer-bonds\/","title":{"rendered":"MDOT Showcases Roadwork Funded by Whitmer Bonds"},"content":{"rendered":"
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\"\"<\/a><\/figure>\n<\/div>\n\n\n

Specific sections of roadway are being showcased by the Michigan Department of Transportation by way of signs that say, \u201cBond Financing at Work,\u201d which alludes to Governor Gretchen Whitmer\u2019s 2020 road bonding plan. <\/p>\n\n\n\n

MDOT spokesman Jeff Cranson said about 15 green signs ($750 each) have been installed throughout the state with plans to install more. One sign, located in a construction area on Interstate 496 in Lansing, is meant to assure \u201cthat the work is being done,\u201d according to Cranson. <\/p>\n\n\n\n

“Installing these signs is consistent with MDOT’s objective to be transparent and provide the public with as much information as possible about road projects,” Cranson said.

House Republicans who have opposed Whitmer\u2019s bonding plan added a stipulation to the transportation budget requiring that the signs mention the monetary amount paid by the state in interest and borrowing costs to repay the bonds. <\/p>\n\n\n\n

Currently, the 2022 budget requires construction and borrowing costs to be listed on the signs. MDOT is not complying with the law, so the 2023 budget approved by the House includes provisions for non-compliance. <\/p>\n\n\n\n

Cranson says the addition of words or signs as outlined by the House budget would increase the cost of each sign. <\/p>\n\n\n\n

In 2020, Whitmer suffered from a failed bid to bump up the state\u2019s gas tax by 45 cents a gallon to finance road renovations. In response, she launched her \u201cRebuilding Michigan Plan,\u201d announcing it during her 2020 State of the State address. The next day, the Michigan State Transportation Commission authorized the department\u2019s use of bonding.<\/p>\n\n\n\n

Rough estimates by economists showed that the $3.5 billion program would total approximately $5.2 billion if the state remits annual debt bond service payments of $206.6 million for 25 years. About $529 million of the $1.6 billion issued thus far has already been spent or is spoken for, with an additional $1.9 billion in bonds to be sold in the future. <\/p>\n\n\n\n

At Construction Bonding Specialists<\/a>, we work with new and experienced contractors to find the most satisfactory bond solutions. As a distinct surety-bond-only agency with decades of bonding experience, we work to discover surety solutions for all types of cases ranging from ordinary to challenging. Call us at 248-349-6227<\/a> to learn more.<\/p>\n\n\n\n

Written by the digital marketing team at Creative Programs & Systems: <\/em>https:\/\/www.cpsmi.com\/<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Specific sections of roadway are being showcased by the Michigan Department of Transportation by way of signs that say, \u201cBond Financing at Work,\u201d which alludes to Governor Gretchen Whitmer\u2019s 2020 road bonding plan.  MDOT spokesman Jeff Cranson said about 15 green signs ($750 each) have been installed throughout the state with plans to install more….<\/p>\n","protected":false},"author":1,"featured_media":261,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-news"],"acf":[],"yoast_head":"\nMDOT Showcases Roadwork Funded by Whitmer Bonds - Blog | Construction Bonding Specialists<\/title>\n<meta name=\"description\" content=\"MDOT Showcases Roadwork Funded by Whitmer Bonds In the news - Gain some valuable insight into surety bonds and all things related by reading our blog!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bondingspecialist.com\/blog\/mdot-showcases-roadwork-funded-by-whitmer-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MDOT Showcases Roadwork Funded by Whitmer Bonds - 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