The U.S. Department of Transportation (USDOT) approved a $3.89 billion TIFIA loan through the Transportation Infrastructure Finance and Innovation Act (TIFIA) program for the SR 400 Express Lanes Project, which is the largest single TIFIA loan ever issued. This federal loan, part of an overall $4.6 billion project budget, is designated for the public-private partnership that will expand the highway by adding tolled express lanes in both directions, per the Department of Transportation (.gov).
Details of the Funding
- TIFIA Loan: The $3.89 billion loan comes
from the TIFIA program and is considered the largest loan for a single
borrower in the program's history.
- Purpose: The loan will help finance the
addition of two new toll lanes on a 16-mile stretch of SR 400, from the
North Springs MARTA station to just north of McFarland Parkway.
- Partnership: The loan is part of a
public-private partnership (PPP) involving the Georgia Department of Transportation (GDOT),
the State Road and Tollway Authority (SRTA),
and the project consortium, SR 400 Peach Partners, LLC.
- Project Context: This financing is part of a larger $4.6 billion project to improve safety and mobility in the greater Atlanta metro area.
The SR 400 express lanes
expansion in Georgia is receiving a significant amount of federal funding as
part of a public-private partnership. The U.S. Department of Transportation
(USDOT) has approved a loan of up to $3.89 billion through the Transportation
Infrastructure Finance and Innovation Act (TIFIA), which is reportedly the
largest TIFIA loan ever issued.
Additionally, USDOT previously
allocated up to $3.4 billion in Private Activity Bonds (PABs) to the
project. This brings the total federal investment to approximately $7.5
billion. The financing package also includes a $184 million Infrastructure
for Rebuilding America (INFRA) grant.
Project Context
- The expansion involves adding tolled
express lanes and transit infrastructure along 16 miles of SR 400.
- The overall project is part of a
larger $11 billion, 56-year public-private partnership with SR 400
Peach Partners.
- The project also features a transit component, with Peach Partners contributing $75 million for future bus rapid transit (BRT) improvements.
https://www.google.com/search?q=how+much+federal+funding+was+used+to+expand+sr-400
Comments
The expansion of SR-400 in
Atlanta Metro includes “Toll Lanes” that reduce the “Free Lanes”. Navigating
lanes increases the difficulty of using SR-400 and increases the chance of
accidents. Georgia DOT does a lousy job designing highways in Georgia.
Every “improvement” makes it worse. Costs are through the roof. The Federal DOT needs to audit the designs and costs associated with the current State DOT plans and add big city highway design expertise to its responsibilities. Federal money should include Federal Approval.
Norb Leahy, Dunwoody GA Tea Party Leader
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