Oklahoma Turnpike Authority Receives $120M Build America Loan
The U.S. Department of Transportation’s Build America Bureau is providing up to a $120.1 million Transportation Infrastructure Finance and Innovation Act or TIFIA loan to the Oklahoma Turnpike Authority to help finance the Gilcrease Expressway West project.
[Above photo by the Ohio Turnpike Authority.]
That project consists of a five-mile four-lane divided tollway that includes 22 bridges – two of which span the Arkansas River – four major interchanges, and a 10-foot-wide multi-use trail. It is also the first transportation project in Oklahoma to ever use TIFIA credit assistance, USDOT noted in a statement.
The primary source of repayment for the TIFIA loan helping fund this highway project – intended to relieve congestion during peak travel periods and provide a new and more direct route to city attractions and various points of interest – is gross toll revenue and supplemental funds from the Oklahoma Department of Transportation via an assistance agreement.
ARTBA Foundation Announces Financial Assistance to 11 Children of Fallen Highway Workers
May 27, 2020
ARTBA Launches New “Fundamentals of U.S. Transportation Construction Safety” Course
May 27, 2020