QUESTIONS ABOUT FUNDING
What’s the expected cost of the project?
Costs are preliminary and included in the Screening Report Supplement. Preliminary estimated costs range from $1.497 to $1.810 billion for the three alternatives.
How will the project be funded?
Each preliminary alternative is expected to require a combination of toll-backed financing, traditional funds and grant opportunities to move to construction.
How will Indiana and Kentucky split the project costs?
Indiana and Kentucky are evenly splitting costs for preliminary design and the environmental review. Construction funding will be reviewed when a preferred alternative is selected and a detailed estimate is developed.
How much is project construction expected to cost?
The estimated project cost will be included in the Draft Environmental Impact Statement. Current estimates range from $1.42 to $1.49 billion.
Must both states commit to the estimates before the project can move to design or construction?
A federally approved financial plan that includes funding and financing commitments from both states is a requirement to move forward with construction.
What types of financing and funding will the two states consider?
It’s expected to require a combination of toll-backed financing, traditional funds and grant opportunities to move to construction.
Why is tolling being considered?
Across America, traditional funding sources, such as gas taxes, are increasingly inadequate to pay for major infrastructure improvements.
What procurement process might be used? Will this project be built as a public-private partnership or design-build project?
As the states develop the project further through preliminary design and the environmental review, Indiana and Kentucky will consider the project’s suitability for different procurement methods and select a solution that works best for both states.
Is tolling an option?
Yes. I-69 bridge will be tolled. With West Alternative 1 and Central Alternative 1, tolling US 41 may also be necessary.
When will a decision be made on tolling rates and who makes that decision?
A bi-state body to establish the financing parameters for the project will be created prior to construction. These parameters will include a toll policy, the business rules of what facilities are tolled and what the toll rates are. The environmental process currently underway will evaluate the potential consequences of tolling scenarios to advise the bi-state body as a financing plan is developed.