The U.S. Department of Transportation’s Build America Bureau recently provided the Louisiana State Bond Commission with a $88.3 million loan.
Funds will allow the Louisiana Department of Transportation and Development (LADOTD) to build the 2.7 mile, two lane LA 415 Connector that will link LA 1 and LA 415 at Interstate 10 in Baton Rouge Parish.
Work includes the roadway, modifications of the I-10 ramps at LA 415, a new interchange between LA 415 and LA 1, and bridges over the Gulf Intracoastal Waterway.
“The project is critical to improving resiliency and enhancing safety for people in the region by providing a direct connection and evacuation route for areas south of I-10,” Deputy Transportation Secretary Polly Trottenberg said. “The new access west of LA 1 will also support regional economic growth for residents and businesses in this area.”
Louisiana also will use $38 million in additional federal funding for the $268 million project.
The Build America Bureau advances investment in transportation infrastructure. It provides Transportation Infrastructure Finance and Innovation Act (TIFIA) and Railroad Rehabilitation & Improvement Financing loans and other financing.
The U.S. Department of Transportation has closed $39.8 billion in TIFIA financing that has supported more than $136.1 billion in infrastructure investments.