Tom Warne Report, 19 October 2012
FRANKFORT, Ky. – The states of Indiana and Kentucky have cleared one of the final hurdles before confirming financing and construction plans by reaching an agreement for the construction, financing and long-term management of the Ohio River Bridges Project. Each state’s portion of the project will cost about $1.3 billion. The long-awaited project will add two new river crossings in Louisville and rebuild downtown interchanges on both sides of the Ohio River, creating thousands of jobs in the process.
To speed construction and share responsibility, Kentucky Gov. Steve Beshear and Indiana Gov. Mitch Daniels agreed to divide oversight of the two major components of the project. The financing of the project will rely on traditional transportation funding from federal gas tax dollars and toll revenue on the new and improved crossings. Indiana is in charge of financing and constructing an upriver East End Crossing and approaches on both sides of the Ohio River. Kentucky will build a new downtown bridge and reconstruct Spaghetti Junction.
The agreements create a Joint Board that will have long-term oversight and management responsibility for the Bridges Project. Tolls have long been estimated to range from $2 for cars to $10 for semi-trucks, and a $1 frequent toll rates expected to be offered to local commuters. Procurement of each state’s respective portion of the project remains on schedule with contracting teams to be selected by the end of the year.