The Bureau provided a low-interest loan of up to $48.2 million to the Minnesota Department of Transportation (MnDOT) and Minnesota Management and Budget (MMB) to reconstruct 12 miles of Highway 14 to a four-lane, divided highway from the City of New Ulm to the City of Nicollet, bypassing the City of Courtland – helping to improve safety on a critical rural highway. 

Under the Transportation Infrastructure Finance and Innovation Act Rural Projects Initiative (RPI), this loan is for half the treasury rate and for nearly half the $98.38 million project costs instead of the customary 33 percent.  

Expected to be complete in 2024, the project includes a new interchange, safer intersections in the City of New Ulm, new turn lanes, replacement of three bridges, construction of two new bridges, safety improvements and modernization, including the installation of improved lighting, intelligent transportation systems, and a snow fence. 

Read the news release here. 

View project video.