The Build America Bureau recently provided the Louisiana State Bond Commission with two Transportation Infrastructure Finance and Innovation Act (TIFIA) loans totaling $40.9 million.
“These are the fifth and sixth loans that Louisiana has closed over the past year as part of a bundle approach, which allows for more efficient processing and expedient closing,” Morteza Farajian, the bureau’s executive director, said. “This is a model for projects around the country as we put infrastructure funding from the Bipartisan Infrastructure Law to work.”
The loans will go to the Louisiana Department of Transportation and Development for a ferry project and a bridge improvement program.
The bureau provided a $19.2 million loan for the Cameron Parish Ferry Project. Once completed, ferry service will run from the Calcasieu Ship Channel on LA 27 between Cameron and Holly Beach in Cameron Parish. Work will include designing and constructing two vehicle/passenger ferries, each capable of carrying at least 35 automobiles, six semi-trucks, and 500 passengers.
The bureau also provided a $21.7 million loan for the Statewide Bridge Program. The program comprises six projects and includes replacing 11 structurally deficient bridges across six different parishes throughout central and eastern Louisiana.