AASHTO Journal, 17 April 2015
U.S. Transportation Secretary Anthony Foxx said the Federal Highway Administration is issuing a $162 million low-interest, long-term TIFIA loan to help finance construction of the East End Crossing section of the Louisville-Southern Indiana Ohio River Bridges Project.
“This project will relieve congestion and stimulate the economy of the entire Louisville-Southern Indiana region both today and for years to come,” Foxx said.
At the total cost of $1.27 billion, the public private partnership project includes the East End Bridge that spans the Ohio River plus connecting roads, and connects the east end of Louisville, Ky., to southern Indiana near Utica.
The East End Cross also benefited from a U.S. DOT private activity bond allocation in 2013.
“The project will connect communities and businesses on both sides of the river and provide convenient access for area residents,” said Deputy Federal Highway Administrator Gregory Nadeau said. “It also helps relieve congestion by allowing Louisville-area travelers to bypass downtown traffic.”
The East End Crossing is part of the larger Louisville-Southern Indiana Ohio River Bridges bi-state project, which the FHWA said is designed to provide two new bridges across the Ohio River to meet the region’s travel needs. The East End Bridge is financed by Indiana, while the Downtown Crossing is financed by Kentucky.
The Downtown Crossing received a $452 million TIFIA loan in 2013, bringing TIFIA’s financing for the entire project to the amount of $604 million toward the total project cost of more than $2 billion.
The Kentucky approach to the new bridge will extend I-265, also known as the Gene Snyder Freeway, or KY 841, from its current end at US 42 to the bridge, and adding two new lanes in each direction for 1.4 miles. The Indiana approach will also feature a four-lane section, and will extend SR 265 four miles from SR 62 to the bridge.
The FHWA said the Indiana Finance Agency will receive the TIFIA loan for the East End Crossing and enter into an agreement with the Indiana Department of Transportation, which gives the state the rights to use the road in exchange for payments to the IFA. Those payments will be applied by the IFA to the TIFIA Loan.
