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- Author(s): Ferguson, Tim W.
- Source:
Forbes. 9/7/1998, Vol. 162 Issue 5, p18-20. 2p.
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- Additional Information
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- Abstract:
The article discusses reasons why private toll roads in California have only inched forward since 1995. It was learned that a Quino Chekerspot butterfly, an endangered specie, was spotted on the planned highway of California State Route 125 in 1997. The sighting resulted to months of habitat assessment. However, not an inch of pavement has been laid on the planned highway after years of red tape. The $20 million equity put up by California Transportation Ventures remained idle. According to Kent Olsen, head of the Route 125 venture, the government should be responsible for the environmental approval risks. It was learned that since 1989, Route 125 was already authorized by the state legislature. Only a 10-mile tollway on State Route 91 has come to pass and reached cash flow break-even.
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