September 17, 2019
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  • 2:15 pm In Memoriam: President George H. W. Bush, ISTEA, and Transportation
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  • 1:35 pm FAA Reshuffles Executives, Plans Drone Identification Rulemaking in Spring 2019
  • 1:28 pm Predictive Technology Helps Reduce Crashes on I-15 Corridor in Las Vegas
  • 1:14 pm Video Report: MoDOT Produces Multi-Lingual Safety Message
  • 1:11 pm PennDOT Nears Completion of Rapid Bridge Replacement Project
  • 1:08 pm Infrastructure Grants Awarded to “Smaller” South Dakota Communities
  • 12:31 pm Coalition Letter Continues to Urge Repeal of Rescission
  • 12:25 pm Tolling, Congestion Pricing Debated at House Hearing
  • 12:22 pm Letter Argues AV Safety Must be “Paramount Concern”
  • 12:15 pm EPA, Dept. of the Army Formally Repeal 2015 WOTUS Rule
  • 12:12 pm INRIX Study Highlights Potential of Micromobility

The U.S. Department of Transportation’s Build America Bureau is providing up to a $605 million Transportation Infrastructure Finance and Innovation Act or TIFIA loan to the Grand Parkway Transportation Corporation in Houston.

[Above photo of Houston via Wikimedia Commons.]

The loan will help finance the addition of 43.6 miles to the Grand Parkway; a 184-mile tollway circling the Greater Houston area that aims to increase connectivity, expand capacity, enhance safety, and accommodate population growth in what is now the nation’s fourth largest city.

USDOT noted in a Feb. 22 statement that GPTC financed the first five segments of the Grand Parkway with an $840.6 million TIFIA loan; segments that were completed and opened to traffic between February 2014 and April 2016. The H and I segments currently under construction – developed using a Design-Build approach – are expected to be substantially completed by May 2022.

The agency added that its $605 million TIFIA loan, issued at a 3.03 percent interest rate with a term of 30 years after substantial completion, represents 31.5 percent of the tollway’s eligible costs of $1.9 billion.

USDOT also pointed out that its Build America Bureau – established in July 2016 – functions as a “one-stop shop” to streamline credit opportunities, while also providing technical assistance and encouraging the use of “innovative” best practices. As part of those duties, the Bureau administers the TIFIA credit program, it noted.

 

editor@aashto.org

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