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Kentucky begins search for contractors for downtown bridge and Spaghetti Junction
Kentucky is seeking teams of contractors to design and build a new downtown Louisville bridge, a modernized Kennedy Interchange and improved connections to I-65 in Louisville and Southern Indiana. On January, the state issued a notice of intent, the first step in the procurement process. A pre-bid meeting will be held for contractors on March 1, in anticipation of awarding a contract by October 2012. Read more here.
States Divide Project Construction
On Thursday, Dec. 29, Kentucky Governor Steve Beshear and Indiana Governor Mitch Daniels announced that an agreement had been reached between the two states for the financing and construction of the Ohio River Bridges Project. Responsibility for the $2.6 billion project will be split between the two states, with Indiana responsible for the construction of the East End Bridge and highway approaches while Kentucky is responsible for the the new Downtown Bridge and reconstruction of Spaghetti Junction. Each portion of the project is expected to total $1.3 billion, and the project will be partially financed through the use of tolls. To read more about the agreement, click here.
Mayor Fischer Urges Citizens to Support the Bridges Project
In a recent business forum, Louisville Mayor Greg Fischer called upon local citizens to petition lawmakers to move forward with the Ohio River Bridges Project. The significant costs, delays and headache caused by the closure of the Sherman Minton Bridge serves as a turning point, putting the region, and the significant need for new infrastructure, in the national spotlight. Mayor Fischer urges supporters to support the finance plan moving forward and to be vocal in their support, urging for construction to begin as soon as possible. The cost of delay is high, says Fischer, "we're one bridge issue away from being in the 1800s."
Read more about Mayor Fischers comments here.
Closure of Sherman Minton stalls commuters, business
The recent closure of the Sherman Minton bridge due to structural cracks has led to increased motorist frustration as drivers endure miles of re-routing and daily congestion. And while community members urge government officials to work together and solve our region's transportation issues, the businesses of the region, and the over 100,000 jobs that rely on the highway network are suffering.
To read more about the effects on area business, click here.
Authority plans search for lead project contractor
The bi-state authority met on July 7 and announced plans to seek bids in early 2012 from potential lead contractors, capping a process that will define how to build, finance and operate the bridges project.
The authority is looking at a variety of methods, including public private partnerships, to complete the project. Overall, 6 models will be explored that include varying roles for state, federal and private industry. The final model will be chosen by the model, which provides the greatest cost savings and lowest risk.
Read more about the process here.
Regional Advisory Committee reviews project changes
The Regional Advisory Committee, made up of 45 governmental agencies, environmental, civic and business groups and other special interests, met Wednesday to look at proposed changes and tolling options for the Ohio River Bridges Project.
While the numbers released are not a tolling proposal, the numbers will help officials to show traffic flows with bridges tolled at various amounts. Major infrastructure projects increasingly need to rely on tolling to help fund them, and the Bridges Project will too. Project officials, however, are continuing to find ways to drive cost out of the project so as reduce the funding gap to be closed by tolling.
Read more about the outcome of the meeting here.
$1.2B could be shaved from cost of Bridges Project
After studying the cost-saving approaches to the Bridges Project proposed earlier this year by Gov. Steve Beshear, Gov. Mitch Daniels and Louisville Mayor Greg Fischer, it has been found that cost savings could total $1.2 billion, as opposed to the $500 million originally estimated. Proposed modifications would bring the total project cost down from $4.1 billion to $2.9 billion, while still delivering the needed two bridges, east end and downtown, and a rebuilt Kennedy Interchange to replace the tangled and dangerous Spaghetti Junction.
The largest savings would result from:
· Rebuilding the downtown Kennedy Interchange in place rather than moving it to the south – $800 million less;
· Eliminating flyover ramps and making other design changes on the Indiana interstate approach to the newly expanded I-65 bridges – $215 million less; and
· Reducing the East End bridge, roadway and tunnel from six to four lanes – $174 million less. (would be built so that in the future they could be expanded to six lanes by using shoulder space and restriping the lanes)
The project’s price tag could go lower still as a result of efforts by the Louisville and Southern Indiana Bridges Authority, which is working to develop a financing plan to close the funding gap and reduce the 12-year project timetable through public-private partnerships.
Read more about the cost-saving approaches here.
Bridges Authority finance committee meets to look at upcoming environmental approval process and additional time and cost saving measures
The bi-state Bridges Authority's finance committee met Wednesday to discuss updates to the project and ways to cut the construction timetable and create cost-savings for the project. Environmental
attorney Tim Hagerty reaffirmed the potential to complete the revision to the Environmental Impact Statement in a year’s time, to meet the project's target groundbreaking date of August 2012.
In addition, Authority members discussed the potential for private sector partnerships to allow the project's construction timetable to be cut by 6 years, saving up to $800 million in costs.
See coverage of the meeting here and here.
National infrastructure fund could help pay for Bridges Project
Sen. John Kerry (D-MA) recently introduced a measure in congress that would create a self-sustaining, national infrastructure fund that could help fund large-scale products over $100 million. Rep. John Yarmuth (D-KY) has said that he believes that the measure, which is gaining bi-partisan support, could help fund projects like the Ohio River Bridges Project, which meets the criteria as laid out by Kerry.
Read about the infrastructure fund here.
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Bridge builders say project's construction timetable could be cut in half
The Kentucky and Southern Indiana Bridges Authority recently released information summarizing the results of the Industry Forum held in February.
Approximately 800 attended the forum and, most notably, consistent messages from contractors were that the Bridges Project’s construction schedule could be cut in half. With the Authority’s call for an August 2012 ground breaking, construction could be completed in as little as 6 years, saving hundreds of millions of dollars in cost.
Approximately 70% of participants in the forum were from Kentucky or Indiana. Additionally, nearly 30% of participants identified themselves as DBEs.
Authority representatives praised the continued support and unified leadership of the Governor Beshear, Governor Daniels and Mayor Fischer, while emphasizing the importance of local firms and workforce in the completion of the project.
Read more here.
Governor encourages local participation in Industry Innovation Forum
Kentucky Governor Steve Beshear released earlier this week a call for local small business owners, union leaders and construction company executives to register and take part in the Ohio River Bridges Project
Industry Innovation Forum.
The Innovation Forum marks a definitive forward motion toward the August 2012 project groundbreaking, and the first step in creating thousands of jobs. The forum will allow industry experts to collaborate on cost
saving measures, including creative approaches to financing, design and construction methods.
The governor wants to be certain that many of the thousands of jobs that will be created will go to area workers. The forum will provide an opportunity for local and national or international firms to interact
and potentially develop partnerships and other innovative approaches for
delivering the Ohio River Bridges Project.
Read the Governor's Release.
See news coverage.
Governors' and Mayor's announcement on bridges' cost reduction adds
to project momentum
The bi-state Bridges Authority met Thursday, chiefly to clarify and elaborate on the recent announcement by Kentucky Gov. Steve Beshear, Indiana Gov. Mitch Daniels and Louisville Mayor Greg Fischer of the plan to
reduce the scope and price tag of the Ohio River Bridges Project, while maintaining the project's core components.
By reducing the East End Bridge from 6 lanes to 4, removing the pedestrian and bicycle lanes from the Downtown Bridge and by re-building Spaghetti Junction in place, rather moving it further south, the
group projects cost savings of $500 million. The Bridges Authority still plans for an August 2012 groundbreaking. Read a detailed article here.
A recent Courier-Journal editorial supported the modified plan, despite the trade-offs, and confirms the project is the community's most important civic undertaking. Read the column here.
During the Authority meeting, project officials indicated that with the proposed changes, the Record of Decision would not be opened, but the changes could require some amendments. In addition, the Authority set a Feb. 16 and 17 date to host an "industry forum" in Louisville, intended to generate ideas and interest in the project among contracting, construction and engineering firms. The forum will enable private-sector firms to work together to develop innovative construction approaches.
Updated Finanacial Plan Submitted
The Bi-State Bridges Authority met on December 16 to formally vote on its preliminary financing plan for the Ohio River Bridges Project. The plan, which features a target ground-breaking of August 2012 and includes tolling as a means for closing the financing gap, was passed 13-0, with one Authority member absent from the meeting. While the tolling scenario is yet to be determined, the authority has set $1 as a target toll for frequent bridge users. View coverage of the event here.
Independent bridges project funding model submitted
The Bridges Coalition has submitted to the bi-state Bridges Authority the results of an independent financial analysis. The analysis shows that the Bridges Project can be funded with a base toll rate in the $1 range, and including a discounted rate of $0.75 for the local commuters who use the bridges regularly. It also illustrates the importance of using a design-build approach, and moving forward quickly to capitalize on low interest rates and a competitive construction market. Read the highlights of the study here.
Authority’s Finance Committee discusses cost-saving measures
At the first meeting of the bi-state Bridges Authority’s Finance Committee, members discussed innovative contracting methods, including various design-build approaches that can reduce the Bridges Project’s timetable and costs. It was reported that schedule acceleration could save as much as $10 million per month over the life of the project. The discussion focused on ensuring the Bridges Project’s entire scope is completed in order to realize the full project benefits.
Also, the committee discussed the potential of hosting an “Industry Forum,” inviting potential private contractors and developers to present cost-saving ideas and innovative construction methods.
Insight's cn|2 features Bridges issues
Insight's political channel, cn|2, recently compiled a round up story on the issues surrounding the Bridges Project. An interview with Coalition Chairman David Nicklies was featured prominently in the story, and carried the messages of the project’s importance to the local and regional economy…
Watch the story here.
Support in the news
Local media outlets have carried several opinion pieces recently that demonstrate the broad support for the Ohio River Bridges Project…
Read from the Courier-Journal here and here.
Read from Business First of Louisville here.
Milton-Madison Bridge saves time and costs
Just up the Ohio River, the State of Indiana is applying its design-build approach to streamline the timetable and reduce the cost of rebuilding the Madison (IN)- Milton (KY) bridge.
Design-build allows the design and construction phases of a project to overlap, saving time and money versus traditional government bid processes. In this case, the result is a 20 percent cost savings on the Milton-Madison project.
The Courier-Journal reported that Indiana Gov. Mitch Daniels encouraged the state to “be creative and think differently,” in developing the bridge. “Here is a great example of innovation that makes a great outcome even better,” Daniels said.
Read more about the Milton-Madison project here.
KIPDA plan update to keep region eligible for federal funding
The Kentuckiana Regional Planning and Development Agency (KIPDA) has released the final draft of its long-range transportation plan, Horizon 2030.
The plan is a comprehensive look at future transportation needs, including the Bridges Project, for a five-county region. Federal approval of this plan helps ensure the community is eligible to receive federal funding for projects.
KIPDA’s Horizon 2030 projects increases in both population and traffic, further demonstrating the need for the Bridges Project to move forward:
-The metro area's population in 2030 will be 1.15 million, up 21.6% percent from the year 2000;
-The number of people employed in 2030 will be 868,000 which is up 62% from 2000;
-Truck freight will double in weight from 2002 to 2035;
-Truck volumes are expect to increase over 223% from 2002 to 2035, as compared to an expected 180% increase for total traffic volume.
Read more about Horizon 2030 here.
The full report is available here.
Authority affirms 2 bridges, one project
At its meeting yesterday, the Louisville and Southern Indiana Bridges Authority confirmed its focus to deliver a finance plan to build two new Ohio River bridges and replace Spaghetti Junction with a more modern, functional interchange.
The Authority explored the possibility of alternatives to the current project and determined those alternatives would not accomplish the purpose of the Ohio River Bridges Project – namely to improve cross-river mobility.
Several people spoke at the meeting to encourage the Authority to meet its goal of developing a fair and workable finance plan by the end of the year.
Elizabethtown Mayor David Willmoth spoke about the positive impact the project will have on the Elizabethtown community and the importance of the I-65 corridor throughout Kentucky. Chuck Moore, of Eagle Steel in Jeffersonville, Ind., spoke about the impact of traffic delays on his business, and about the “close calls” trucks experience when vehicles cut in front of them to get into the correct exit lane in Spaghetti Junction. Alan DeLisle, of the Downtown Development Corporation, spoke about the need for a functional bridge and highway network that supports a growing downtown that has more than 68,000 workers in 5,000 businesses, and represents the largest business park in Kentucky.
Read about the Authority’s meeting HERE.
Gov. Daniels speaks out on Bridges Project funding
In media coverage of Indiana Governor Mitch Daniels’ recent visit to Southern Indiana, the governor addressed the aspect of tolls as a way to pay for a portion of the Ohio River Bridges Project
“It’s just a reality. We can all wish it were different but that’s the way it is,” Daniels told WHAS-11. “Now, I do happen to believe that there are a lot of ways they [tolls] can be very moderate, much lower than the high range estimates that have been given.”
In an interview with WAVE-3, the Governor said, “It’s a very fair thing to do. Out of state motorists will pay a very high percentage of the cost this way, as opposed to all of it being charged to Hoosiers and Kentuckians. I don’t think a user’s fee is unfair in anyway.”
Federal grant could help finance one-third of Bridges Project cost
At its August 19 public meeting, the bi-state Bridges Authority provided details of its application for the federal TIGER II grant program. The authority is requesting a $135 million grant that would be leveraged ten-fold by enabling the Authority to secure a federal loan of $1.35 billion. The loan amount represents one-third of the Bridges Project cost. The Coalition, along with several area businesses, organizations and community and government leaders, have submitted letters to the Department of Transportation supporting the grant application.
Workers Push for Infrastructure Projects to Move Forward
On Thursday, August 12, nearly 200 union workers gathered under the Kennedy Bridge to convey a simple message: stimulate the economy by putting people to work. They called on government officials to invest federal funds in much needed transportation infrastructure.
LIUNA (Labors International Union of North America) will be backing their demonstration with radio, online and outdoor advertisements about the need to fix crumbling infrastructure and create jobs. Read more here.
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Bridges Project topic at Ky. Public Transportation Infrastructure Authority meeting
Members of the Bridges Coalition on August 4 attended a meeting of the Kentucky Public Transportation Infrastructure Authority, which will be asked to approve the bridges' financing plan, currently being developed by the bi-state Bridges Authority. During the meeting, Kentucky Transportation Cabinet Secretary Mike Hancock said there has never been doubt that the project is needed and that it needs to move forward.
In addition, Steve Schultz, executive director of Bridges Authority, reported that pre-applications have been filed for federal funding programs, including TIGER II grants and the TIFIA federal loan program. Schultz also said that a study showing the impact of tolls on area traffic will be completed soon – a step toward the authority developing its finance plan.
Courier-Journal coverage of the meeting is here.
Newspaper studies user fees as portion of funding for Bridges Project
In a front-page story, The Courier-Journal studied toll rates in relation to the Ohio River Bridges Project. It found that a $3 average in each direction is “comparable with what motorists pay elsewhere in the U.S.” It also found that amount to be in line with what Louisville and Southern Indiana residents paid generations ago, when adjusted for inflation.
Read about it here.
Then, the newspaper outlined where candidates stand in terms of the Bridges Project... including support from candidates on the need for a two-bridge solution...
Read about it here.
C-J: Bridges Project Louisville’s ‘most important civic undertaking’
In an editorial today, the Courier-Journal outlined the need for moving the Bridges Project forward – and quickly. It outlined the need to complete both bridges as well as the rebuild of Spaghetti Junction to solve congestion and safety issues. The newspaper also advocated for no further delays in order to capitalize on low interest rates and a favorable construction-bidding environment that would ultimately result in saving hundreds of millions of dollars. Read it here.
Bridges Project moves forward with financial demonstration
On Friday, the Bridges Project took a step forward as the Louisville and Southern Indiana Bridges Authority released a report outlining the methods available to finance the project. In doing so, it keeps the Bridges Project a part of the Metropolitan Transportation Plan and on track to receive federal funding.
The Authority’s report demonstrated that the Bridges Project could be funded with a combination of sources, including federal and state funds, stimulus grants, bonding and user fees. While the report included a high-end, worse case toll rate of $3, that amount is not a recommendation and was intended for use in a federally mandated air quality analysis to determine how tolls would impact traffic diversion.
Bridges Coalition Chairman David Nicklies said he is confident actual rates would be lower and there would be a tiered structure to allow local commuters to pay less. In addition, the amount of federal and state funding, and other funds generated would impact any potential user fee rate.
Read more about it here.
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Bridges Supporters Urge Progress
Coalition members and other Bridges Project supporters turned out today at the Bridges Authority meeting to urge progress, citing the need for jobs, safety improvements and less congestion across the river. Click here the read more about the July 1, Bridges Authority meeting.
Bridges Project to remain in region’s transportation plan
Tolling scenario will keep project on track
Representatives from local governments on both sides of the river have agreed to keep the Bridges Project in the region’s transportation plan, breaking a logjam that had threatened the project’s development and federal funding for all road projects in the region.
Coalition Chairman David Nicklies told news media the action by a committee of the Kentuckiana Regional Planning and Development Agency is a major step for progress, bringing us closer to major construction on the project. Click here to read the full article.
Spaghetti Junction’s worst bottleneck ranking draws attention for Bridges
The Coalition, working with the Greater Louisville Advanced Manufacturing and Logistics Network, is attracting media coverage today with a news release about Spaghetti Junction’s recent ranking as one of the nation’s worst bottlenecks. Spaghetti Junction’s congestion and safety risks threatened one of our region’s strongest economic sectors and the ranking points to the need for new bridges and the rebuild of Spaghetti Junction as soon as possible. If nothing is done, average Spaghetti Junction rush hours speeds in the morning and evening will fall below 20 miles per hour in 2025, based on traffic analysis as part of a federal study. The study also cited high accident and safety issues in Spaghetti Junction. Click here to read the release.
Coalition Chairman David Nicklies highlights KY funding and project benefits
Bridges Coalition Chairman David Nicklies’ letter to the editor in today’s Courier-Journal cites the recent additional $105 million in revenue authorized by the Kentucky General Assembly for the project. “It is commendable that when faced with severe shortfalls and a budget that must make very difficult cuts, the Governor and legislators understand the project's immense economic impact and traffic and safety enhancements. The Bridges Project is an investment that will return benefits for generations in job growth, fewer accidents and less time wasted in gridlock. And with innovative funding solutions and continued commitment of elected officials, it can become a reality for our entire region." Click here to read more.
All-Electronic Open Road Tolling
Florida's Turnpike Enterprise is moving forward with implementing all-electronic open road tolling, the kind they are considering for the Bridges Project. There are no tollbooths and no slowing down or stopping with this kind of tolling. The result is a safer, faster and more convenient ride. All-electronic open road tolling is better for the environment because cars are not stopping and idling at the toll plazas, which reduces emissions and improves gas mileage. To learn more about how all-electronic toll collection works click here, then click on the TV and watch a short informational video about Florida’s Turnpike Enterprise.
Does Kentuckiana’s Infrastructure Make the Grade?
On May 11, members of the Louisville and Southwest Indiana branches of the American Society of Civil Engineers (ASCE) released the first-ever Kentuckiana Infrastructure Report Card. Click here to read the full Press Release.
Our region’s bridges and roads get a dismal grade of “D” according to an engineering study and experts say this has a direct negative impact on our economy and quality of life. The bridges project will reduce congestion throughout the region by 22 percent, according to a federal study. You can read the summary of the report and the full report is also available on the Studies Page of The Bridges Coalition website.
WAVE3 Provides an Update on the Project’s Financing
Hear Bridges Coalition Chairman David Nicklies explain the need to consider tolling and a local businessman talk about potential savings from less time stuck in traffic crossing the river.
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Kentucky legislators urge finance plan progress
A finance plan for the project by the end of the year is being urged by Kentucky's House of Representatives. In a resolution sponsored by lawmakers from Jefferson County, Kentucky Gov. Steve Beshear and Louisville Mayor Jerry Abramson are urged to "utilize their best efforts" to ensure a finance plan is submitted by by Dec. 31.
To read the resolution, click here.
Project Financial Advisor Selected
A leading financial firm with deep and broad experience on major transportation projects will assist in development of the Ohio River Bridges Finance Plan. Steve Schultz, executive director of the bi-state public authority responsible for develping finance options, said the selection of KPMG LLP is a "significant milestone" for developing a "plan that will lead to the cost-effective and rapid delivery of this project.
To read the news release, click here.
Bridges supporters urge consideration of tolls
Bridges Project supporters urged officials considering a finance plan to move faster and consider high-speed all-electronic tolling as a funding option. A broad base of supporters from Kentucky and Indiana told the Authority that after decades of debate and nearly seven years since the project's approval, financing needs to be resolved so the project can be completed for job growth, public safety and congestion relief. Savings can also be realized now while financing and construction costs are relatively low.
To read more about the May 6 Authority meeting, click here.
Bridges Authority Meets Thursday, May 6
The Louisville-Southern Indiana Ohio River Bridges Authority will hold its next public meeting Thursday, May 6, at 10 a.m. at the Muhammad Ali Center, 114 N. Sixth St., Louisville.
For more information, including the agenda, visit the Bridges Authority's new web site: www.bridgesauthority.com.
Governors recommend new authority chairman; Beshear names Lexington banker to panel
Bridges Authority treasurer Charles Buddeke is the recommended new chairman of the group responsible for recommending a financial plan for the project. Kentucky Governor Steve Beshear also appointed Lexington banker Luther Deaton Jr. to the authority.
To read more, click here.
Bridges Project's National Importance
The Project's signifcance for national commerce and economic growth is a focus of a Lane Report April cover story. The story notes that the I-65 Kennedy Bridge is a chokepoint on a major commerce route stretching from Mobile, Ala., to Gary, Ind. The bridge was built for 85,000 vheciles a day but now carries closer to 140,000 vehicles - 65 percent overcapacity.
To read the story, click here.
Another bridge accident causes injury, gridlock
One car ended up on the top of another on the I-65 Kennedy Bridge Sunday, April 11, causing injury and a traffic "mess," according to media reports. The Bridges Project will correct safety problems on the aging bridge. Among other shortfalls, the bridge lacks emergency shouler lanes which were converted for traffic more than a decade ago to meet growing demand. When accidents occur, all too often, emergency response teams have trouble reaching victims and traffic can back up for miles on I-65 and connecting roads.
 Building the Bridges
Business First of Louisville provides an overview of the Bridges Authority's role and bios of the 14 members and Executive Director Steve Schultz.
Click here.
Indiana legislation provides funding options
Indiana Gov. Mitch Daniels will sign legislation authorizing additional options for financing the Bridges Project. The governor told The Courier-Journal the legislation is "far-sighted" and provides "new tools and new possibilities" and Ind. State Rep. Steve Stemler, D-Jeffersonville said he believes the legislation will help accelerate the Bridges Project.
To read more, click here.
Coalition announces leadership change
C.Edward Glasscock, the Coalition's Chairman, is stepping down after nearly three years of leadership and signficant progress on the Bridges Project. David Nicklies, a Coalition executive committee member who shares Glasscock's passion for Bridges Project completition as quickly as possible, is the new chairman.
Read more.
FHWA officials pledge flexibility, support for Bridges Project Decision to toll would not require delays
U.S. Transportation Secretary Ray LaHood, in Jeffersonville, IN., said the Bridges Project could be eligible for fedreal funding opportunities and "the time is right" to make the case. He urged continued cooperation and unity in developing project solutions.
Read more
Bridges Authority begins Finance Plan development 
The Louisville-Southern Indiana Bridges Authority has agreed to immediately pursue steps for developing a financing plan for the project, including updating project cost estimates and an earlier traffic study that focused on tolling options. Assessing legislative needs and advisory services relating to financing including private options and federal programs will also be addressed
“It’s important to keep the momentum going. We don’t plan to hurry but we need to be quick,” said Authority Chairman Joe Prather at the start of the meeting on Feb. 10 which lasted nearly four hours at Louisville’s Muhammad Ali Center. The meeting was the first working session for the 14-member panel which conducted an organizational meeting the previous week.
Prather said the next meeting will be at 10 a.m. on March 4.
Authority Executive Director Steve Schultz said finance plan development work will begin immediately and he will consult with Kentucky and Indiana finance officials and others to gather as much information as possible before the next meeting. Schultz, who presented an overview of the authority’s role and governance structure, said he has been working closely with finance and transportation officials from both states and the project staff since he was named to his post on Feb. 2.
In opening reports to the authority, Schultz, a former general counsel to Indiana Gov. Mitch Daniels, said, “My task is to move the ball forward.”
Finance Plan Options
Potential funding sources include federal programs such as the Transportation Infrastructure Finance Innovation Act, known as TIFIA, which provides low-cost loans for up to one-third of a project’s costs. The National Infrastructure Innovation and Finance Fund (NIIFF), an Obama-administration proposal to establish a $4 billion infrastructure fund, was also cited. A federal program called “Build America Bonds,” part of the stimulus package, will cover 35 percent of taxable interest, which Howard said could provide significant savings. That program is to expire at the end of this year but an extension has been proposed that would cut the interest savings to 28 percent which Howard said would still provide significant savings.
Other options include state contributions, revenue bonds and private sector investment. The authority could also issue dedicated revenue bonds supported by toll revenues to finance a funding gap.
Other meeting highlights
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Authority member Joe Reagan presented a report on economic impacts of the project, referring to the Coalition’s economic analysis showing 56,000 new jobs during the construction phase alone and highlighting the project's importance for the region’s logistics and manufacturing industry which accounts for more than 147,000 jobs.
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A “Disadvantaged Business Enterprise” working group of authority members - Joe Reagan, Ben Richmond, David Tharp and Diane Fischer – was appointed by Prather to explore and address policies for engaging minority, women-owned and small businesses.
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During the public comment period, the authority heard from Jeffersonville Mayor Tom Galligan who urged progress as quickly as possible. “These bridges need to be built yesterday.” He described traffic congestion at peak hours on the Kennedy Bridge and the need for the project for economic development, saying “we are one economic development area.”
Governors call for action at bi-state authority meeting; executive director, officers selected
At the first meeting of the bi-state authority for the Bridges Project, Governors Steve Beshear and Mitch Daniels voiced confidence that a funding solution will be achieved and told reporters the project should be completed within 10 years.
Daniels told the authority, “This is not a drill. Decades of dreaming, scheming, hoping are over” and there are “bright prospects ahead of us.” He urged “moving at the speed of business, not the speed of government” and said the authority’s work could become a national model for funding major transportation projects.
Beshear said, “It’s time to turn the dream into a reality.” He called the meeting of the 14-member Authority that will develop the project’s long-term financing and construction plan “an unprecedented” and “historic” event.
The Authority appointed Steve Schultz of Columbus, Ind., executive director and named Joe Prather, former Kentucky Transportation Secretary, chairman of the Authority. Also appointed: Kerry Stemler, co-chairman; Charles Buddeke, treasurer; and Pat Byrne, secretary. The Authority will hold its next meeting on Feb. 10.
To read a new release from the governors about the meeting, click here.
Beshear's Two-Year budget includes $100 million for Bridges Project
Funding is in addition $231 million already authorized
Kentucky Gov. Steve Beshar announced that his two-year budget proposal “dedicates an additional $50 million in federal highway funds each year for the Louisville bridges project. This is on top of the $231 million in GARVEE bonds already authorized.” He closed his budget address by mentioning several accomplishments, including legislation for bridges adopted last summer. Of the state’s challenges, he added, “I’m confident that – together – we can get the job done once again.” To read the govenor's complete budget address, click here.
East End Bridge approach in Indiana features innovative, cost-saving design
A new interchange concept at IN-265 and IN-62 known as the "diverging diamond" is part of the design plan for the East End Bridge approach in Clark County, Indiana. The design will save $66 million while improving safety and traffic flow compared to a traditional cloverleaf interchange. Only one diverging diamond interchange has been built in the United States, but several are planned. To learn more about the interchange and access a video showing traffic navigation, click here
Kentucky steps up land purchasing for project
With proceeds from $100 million in bonds, Kentucky is contacting property owners to purchase land downtown and in the East End for the Bridges Project. A total of 300 parcels in Kentucky and Indiana will be purchased and both states already have ownership of some of the properties. For details about right-of-way plans and maps, click here.
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