Kentucky, Ohio submit Initial Financial Plan for Brent Spence Bridge project to FHWA
Shows how I-75 corridor work through Cincinnati, Northern Kentucky might be funded
FRANKFORT, Ky. (Jan. 2, 2014) – The Kentucky Transportation Cabinet (KYTC) and Ohio Department of Transportation (ODOT) have submitted to the Federal Highway Administration (FHWA) the Initial Financial Plan for the Brent Spence Bridge Replacement/Rehabilitation Project.
The action meets a mandate of the 2012 Kentucky General Assembly, which directed KYTC to submit an initial plan by Dec. 31, 2013. A financial plan is not required by FHWA until a project is ready for construction.
“This is a starting point in our joint effort with Ohio to determine how we can best finance and deliver long-awaited improvements to the Interstate 75 corridor through Cincinnati and Northern Kentucky,” KYTC Secretary Mike Hancock said. “This initial financial plan will be updated many times along the way.”
In addition to outlining how Kentucky and Ohio might finance the project, and explaining why it will require tolling, the document also sets out a proposal for how the project might be contracted and a suggested timetable.
Click here for a copy of the financial plan.