North Carolina, acting through the North Carolina Department of Transportation (NCDOT), reached a major milestone on May 20, 2015 when financial close was achieved on the I-77 Express Lanes Project – the first highway public-private partnership in the state. The project, with a design and construction cost estimated at approximately $591 million, will add 26 miles of tolled, express lanes along the existing I-77 corridor in the Charlotte region. The financing package includes $100 million of private activity bonds and a $189 million TIFIA loan from the U.S. Department of ...
The I-77 HOT Lanes Project is the first road transportation infrastructure project under a pubic-private partnership (P3) delivery model in North Carolina and will set the precedent for the use of P3s to implement HOT lanes projects in the state. NCDOT anticipates that partnership with the private sector, and the innovative funding strategies that private sector funding brings, will more quickly and more ...
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