Cintra BAILOUT: firm snags $3.6 million payment for LOSING BID on SH 121

Link to article here.

Wanna know why there’s no money for roads? Here’s your answer…
Hold your breath or at least resist the urge to throw things at your computer or kick the dog…despite public opposition, Texas Senator John Carona and State Rep. Charlie Geren carried the bill to lift the cap on payments to losing bidders on certain toll contracts called Comprehensive Development Agreements or CDAs. The original limit was $1 million, then in 2007 it was reduced to $250,000, and now since SB 882 passed, there is no cap on how high these payments can go. The amount of taxpayer money is solely at the discretion of government bureaucrats and politicians who bow to foreign interests, like the Spanish firm Cintra. So we’re paying LOSERS for not even building the roads! I warned you…the cronyism is only getting worse, and it’s at the expense of the taxpayers!
Thursday, Aug 13, 2009

Spanish firm to receive $3.6 million after losing road project