Struggling economy effects N.M. road projects

IT'S NO SECRET -- THERE'S NOT ENOUGH STATE AND FEDERAL MONEY RIGHT NOW TO PAY FOR ALL THE ROAD ...  More »

IT'S NO SECRET -- THERE'S NOT ENOUGH STATE AND FEDERAL MONEY RIGHT NOW TO PAY FOR ALL THE ROAD PROJECTS ON THE DRAWING BOARD. WE DID SOME CHECKING -- AND FOUND SOME MAJOR ROAD PROJECTS IN ALBUQUERQUE ARE BEING BEING PUT ON HOLD BECAUSE OF THE SHORTFALL. CRIS ORNELAS IS HERE WITH WHAT PROJECTS ARE GETTING PUSHED BACK -- CRIS.. BIG ROAD PROJECTS LIKE THIS TAKE HUNDREDS OF MILLIONS OF DOLLARS TO BUILD. BUT A SAGGING ECONOMY MEANS FEWER PEOPLE ARE SPENDING AT GOVERNMENT ID COLLECTING LESS SALES TAX. STATE OFFICIALS SAY CUTS TO FEDERAL TRANSPORTATION FUNDING ARE KEEPING THEM FROM STARTING WORK ON SOME OF THE BIGGEST ROAD PROJECTS IN THE STATE. THE LONG ANTICIPATED INTERCHANGE AT PASEO DEL NORTE AND I-25 IS A PRIME EXAMPLE. THESE ARTIST CONCEPTIONS ARE ABOUT AS FAR AS THE PROJECT HAS COME. THE PRICE TAG IS ESTIMATED AT 350 MILLION DOLLARS. 2:10 'theres a huge gap between what we got and whats needed' THE OTHER MAJOR INTERCHANGE THAT COULD BE AFFECTED IS THE ONE THAT WILL FEED THE GROWING MESA DEL SOL DEVELOPMENT. ITS PRICE TAG IS FAR LESS AT SOMEWHERE BETWEEN 18 AND 26 MILLION. 3:09-3:15 'the environmental document is being prepared for that but it kind of a moot point right now because we don't have the money to complete that either'THE STATE IS EVEN RUNNING LOW ON MONEY TO PAY FOR GRIP PROJECTS ALREADY IN THE PIPELINE. SO WHY IS THE TRANSPORTATION MONEY DRYING UP? AT THE STATE LEVEL IT'S RISING CONSTRUCTION COSTS DRIVING UP THE PRICE OF PROJECTS ALREADY UNDERWAY AND THE CLIMBING COST OF THE RAIL RUNNER. 4:01 'theres a huge rise in construction costs since 2005 we've been looking at a 35 percent increase from 2005 to where we are now'WITH THE FEDS IT'S BUDGET CUTS -- AND CRITICS CHARGE THOSE ARE RELATED TO THE WAR IN IRAQ. THE STATE SAYS THEY ARE LOOKING AT ALTERNATIVE SOURCES TO PAY FOR THOSE TWO PROJECTS... BUT RIGHT NOW THEY DON'T KNOW WHEN THEY CAN START ON EITHER ONE.  « Less