The Build America Bureau has given a $501 million low-interest loan to the Colorado Transportation Investment Office (CTIO) for the expansion of 52 miles of express way lanes along I-25 between Denver and Fort Collins. The Bureau aids communities in accelerating infrastructure projects. It also lowers project costs by offering Transportation Infrastructure Finance and Innovation Act (TIFIA) loans and other finance.
Also Read:Â Brinshore Development receive funding for 2 Colorado housing projects
The project will improve travel times, create new mobility hubs that promote the use of public transportation, bicycle and pedestrian travel. Additionally, increasing capacity for future travel demand, and rehabilitating ageing critical rail crossings and structures. It will connect users to a 100-mile regional trail network. These are all advantages of the $1.6 billion project. Safe crossings for wildlife are provided throughout the corridor. The express lanes are free for carpoolers and transit users (HOV 3, a driver and at least two passengers).
What the I-25 express way in Colorado expansion project involves
The project involves 52 kilometres of express lanes, park & ride lots, mobility hubs. Additionally, the rehabilitation of 13 bridges, six interchanges, and rail crossings are all included in the project.
The I-25 North Corridor is the state’s primary priority. US$4.6 billion in upgrades will be made there between now and 2060. Key project segments and phases will be delivered faster by 2028 thanks to the $501 million TIFIA loan.
By lending federal funds to qualifying borrowers, removing obstacles for creditworthy projects, and promoting best practises in project design, financing, delivery, and operations, the Build America Bureau promotes investment in transportation infrastructure. In order to act as the focal point for states, municipalities, business partners, and other project sponsors looking for federal funding, the Bureau depends on the expertise of the entire DOT.
