Location |
Louisville, Kentucky / Southern Indiana |
Project Borrower / Sponsor |
Kentucky Public Transportation Infrastructure Authority (KPTIA) Kentucky Transportation Cabinet (KYTC) |
Program Areas |
|
Fiscal Year Approved | Fiscal Year 2014 |
Mode |
Bridge/Highway |
Description |
The Downtown Crossing project includes a new bridge facility across the Ohio River, and associated roadway and facilities, connecting Louisville, Kentucky and Clark County, Indiana. The bridge will carry six lanes of northbound I-65. The existing Kennedy Bridge, located immediately upstream will be rehabilitated and reconfigured to carry six lanes of I-65 southbound. The project also includes improved and expanded approaches and the reconstruction of the Kennedy Interchange between I-65, I-64, and I-71 in downtown Louisville to eliminate design deficiencies and safety hazards. |
Cost |
$1,452 million (YOE, including financing and interest) |
Funding Sources |
GARVEE bonds - $335 million Project revenue bonds - $272 million TIFIA loan - $452 million Bond Anticipation Notes (premium) - $41 million Federal aid funds - $276 million State road funds - $76 million |
Project Delivery/ Contract Method |
Design-Build |
Private Partner |
Design-builder: Walsh Construction
|
Project Advisors/ Consultants |
Oversight assistance (construction oversight, inspection, and quality control)
To USDOT TIFIA JPO:
|
Lenders |
Bondholders, USDOT TIFIA |
Duration/Status |
Design-build team selection on November 15, 2012. Construction began June 18, 2013. Substantial completion expected by December 2016. |
TIFIA Credit Assistance | Direct Loan: $452 million The TIFIA loan and the toll revenue bonds are backed by Kentucky's 50 percent share of the toll revenue generated from the combined Ohio River Bridges project. |
Financial Status |
The TIFIA credit agreement was signed on December 12, 2013. |
Innovations |
|
Related Links/Articles |
Ohio River Bridges Project Website |
Contacts |
Andy Barber |