Money approved for reversible toll lanes | www.wsbradio.com

6
Dec

Money approved for reversible toll lanes | www.wsbradio.com

Atlanta — The final funding is now in place for reversible toll lanes on I-75 and I-575 in Cobb and Cherokee Counties.

U.S. Transportation Secretary Anthony Foxx traveled to Atlanta to deliver news that the federal government will loan the state $275 million, about a third of the total cost of the 30-mile project.

“In this era of tight budgets and limited federal funds, we have to be just as innovative in how pay for projects as we are in how we build them,” he says.

The loan is part of the federal Transportation Infrastructure Finance Innovation Act (TIFIA). The state will repay the money at 3.79 percent interest over 35 years and will not have to pay principal for the first five years.

via Money approved for reversible toll lanes | www.wsbradio.com.

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