Minnesota state lawmakers have approved a bill enabling the Minnesota Department of Transportation (MnDOT) to secure a federal loan to complete the Highway 14 expansion project.
The Transportation Infrastructure Finance and Innovation Act loan via the federal Department of Transportation would address the final expansion phase from Nicollet to New Ulm.
The Rural Project Initiative and the Build America Bureau will administer the loan. The funds would be repaid using overweight vehicle fees, which are currently placed in the state treasury and credited to the Trunk Highway Fund.
“I am happy that the full Senate made this dangerous and deadly highway as high a priority as I have, especially when there are so many other issues that are getting put on the backburner for a little while,” Sen. John Jasinski (R-Faribault), the bill’s co-author, said. “I came to the Legislature determined to secure funding for the east end of Highway 14 between Owatonna and Dodge Center. We delivered that funding two years ago and now we have a strong bipartisan agreement to leverage federal funds in order to accomplish the west end expansion. It is an exciting day for southern Minnesota.”
The project timeframe is dependent on the state’s deliverance of proof and source of payment to the federal government, officials said, adding once the state’s credit is approved, the Department of Transportation will invite MnDOT to formally submit applications for review.
MnDOT anticipates construction could begin as early as fall 2021, with an expected completion date in late 2023.