Finance Authority Approves Bridge Project Loan

Posted: Updated:

The Indiana Finance Authority has approved the borrowing of $170 million for the state's section of the Ohio River Bridges Project. The News and Tribune in Jeffersonville reports the loan will not affect the approximately $1 billion price tag for the east-end crossing. The publication reports the money will be used to pay WVB East End Partners, which is designing and building the bridge, incentives for milestones. The funding is coming from the U.S. Department of Transportation.

The East End Crossing connects the I-265 outer beltway around the Louisville metro.

The overall project, which is a public-private partnership involving Indiana and Kentucky, is expected to cost more than $2.3 billion. It is scheduled to be complete by the end of 2016.

Source: News and Tribune