Expressways war costs us opportunity to save $170 million
Written by Gabriela Henriquez Stoikow on June 29, 2021
A two-year legal battle with the state over five expressways has cost $170 million in opportunities to cut the costs that toll payers finance, the Miami-Dade Expressway Authority (MDX) says.
With interest averaging 2%, the authority could have refinanced debt and paid off its projects faster, saving $170 million had there been no legal fight, Treasurer Luz Weinberg and Deputy Director and Chief Financial Officer Marie T. Schafer argued at last week’s board meeting.
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