We attended the MDX finance committee meeting yesterday Dec. 7th and learned a few more things about MDX and how it operates. Mainly that they are operating with a $2.5 Billion debt!! Not million folks, but a 2.5 “Carl Sagan” BILLION. Upon learning of this figure I was immediately questioning how a relatively small expressway authority like MDX, that manages less than 50 miles of highway/roads is allowed to accumulate such a staggering amount of debt? Especially when their total annual tolling revenue is only $110 million dollars. Is anybody paying attention????
And the majority of the time all that was talked about at the meeting was the need for more funding for “future” projects with little regard for the present debt.
Our suggestion would be to halt future projects and pay down the debt before it gets more out of control than it already is.