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United States Department of Transportation United States Department of Transportation

I-15 Express Lanes Project

A map of the I-15 Express Lanes Project showing entrance and egress locations
Project Type
Roads and Bridges
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Riverside County Transportation Commission (RCTC)
Project Description

The I-15 Express Lanes Project will be built along a 14.6-mile corridor of Interstate 15 in Riverside County, California between the Cajalco Road interchange near the city of Corona to just south of the SR 60 interchange near the San Bernardino/Riverside county line.  I-15 is a major north-south truck/passenger route that links Southern California to Los Angeles and Orange counties as well as to Las Vegas. I-15 is part of the National Highway System that links to major east-west limited access roads and arterials, including SR-91, SR-60, I-10, and SR-74.

The Project consists of the construction of one to two managed lanes in each direction primarily along the median of I-15 and includes retaining walls, storm water runoff treatment services, 11 bridge widenings, tie-ins to the existing travel lanes, an electronic toll collection system, a customer service center and a traffic management system. The Project is designed to improve congested traffic operations and travel times as compared to the I-15 general purpose lanes and expand travel choice as well as providing direct access to the express lanes that RCTC recently opened on SR-91.

Project Details
TIFIA Assistance
$152.20M
Primary Revenue Pledge
Toll Revenues
Project Cost
$461.30M
Fiscal Year Closed
FY2017
Duration/Status
RCTC executed the design-build contract on April 12, 2017. Construction is expected to commence in 2017, with substantial completion estimated to occur in July 2020.
Funding Sources
TIFIA Loan: $152.2 million
Measure A Sales Tax Bonds: $114.2 million
CMAQ Contribution: $110.0 million
Measure A Sales Tax Revenues: $93.8 million
Interest Income: $0.8 million
Project Delivery/Contract Method
Design-Build (DB)
Project Participants
Design-Builder: Skanska USA Civil West California District, Inc./Ames Construction, Inc. joint venture
Project Advisers/Consultants
To RCTC:

RCTC Legal Advisor: Best, Best & Krieger LLP
Bond Counsel: Orrick, Herrington & Sutcliffe LLP
Financial Advisor: Fieldman, Rolapp & Associates
Traffic and Revenue: Stantec Consulting Services Inc.
Independent Engineer: Parsons Transportation Group Inc.
To USDOT Build America Bureau:

Financial Advisor: IMG Rebel
Traffic and Revenue Advisor: IMG Rebel
Legal Advisor: Skadden, Arps, Slate, Meagher & Flom LLP
Project Lender
USDOT Build America Bureau, Bondholders
Financial Status
TIFIA credit agreement was signed on July 20, 2017, and will mature no later than June 1, 2056 or 35 years after substantial completion.
Application Details
Applicant
RCTC
LOI Fiscal Year Received
FY2016
LOI Received Date
Credit Agreement Executed
Initial Eligibility Review
Review Complete
Creditworthiness Review
Review Complete
Application Review
Review Complete
Estimated Project Cost
$460.00M
TIFIA Request
$152.00M
Instrument Type
Direct Loan