Megaproject 325: P3 project in Georgia gets FHWA approval
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Gov. Nathan Deal (Georgia, USA) has announced that the Federal Highway Administration (FHWA) has approved the Atlanta Transportation Improvement Plan, which includes funding for the I-285/Ga. 400 interchange P3 project.
The FHWA has determined the plan met federal air quality regulations, the final hurdle in moving the project forward and delivering congestion relief to the more than 400,000 motorists.
Mr. Deal stated:
These interchange improvements are crucial to improving Georgia's transportation infrastructure and expanding our role as a major logistics hub for global commerce. We are utilizing all the tools that the state has available - accrued motor fuel revenues, authorized bonds, private participation through the Perimeter CIDs, Georgia's strong AAA bond rating and an improved schedule of debt payments - to facilitate this project and provide much needed relief for commuters and area businesses.
The improvements include the construction of new flyover ramps, new collector-distributor lanes and other facilities to aid east-west travel on along I-285 and north-south travel along Ga. 400.
The Georgia Department of Transportation (GDOT) estimates the design-build cost to be US$1.06 billion. In May the governor and GDOT board members approved the sale of $130 million in previously authorized bonds and the use of US$81.5 million in accrued state motor fuel funds to accelerate the project. To complete the funding of the improvements, GDOT will utilize a public-private partnership model.
GDOT Commissioner Keith Golden commented:
This project is a top priority for metro Atlanta, as interchange improvements will alleviate congestion, create jobs and grow businesses. We now have the go-ahead to move forward with these improvements, and we're excited about that. Once complete, this interchange will become a key asset to our transportation infrastructure, helping move people and goods more efficiently.
The Georgia General Assembly, the GDOT Board, the Atlanta Metropolitan Planning Organization Policy Committee, the Atlanta Regional Commission (ARC) Board, the Georgia Regional Transportation Authority Board and the Perimeter Community Improvement Districts (PCIDs) worked cooperatively to see this project through to fruition.
CEO of PCIDs Yvonne Williams added:
With approved environmental clearance underway, we look forward to a construction start in 2016. PCIDs' partnership with the Georgia Department of Transportation continues to be successful in delivering much-needed transportation infrastructure improvements to Perimeter - Georgia's Fortune 500 center.