I-81 Corridor in Virginia
Alternate Project Name
I-81 Corridor Improvements
Project Type
Roads and Bridges
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Virginia Department of Transportation and the Virginia Commonwealth Transportation Board
Project Description
The Bureau provided two TIFIA loans, one through the Rural Project Initiative (RPI) for up to $15 million (49 percent of the $30.5 million cost) and one traditional TIFIA loan for up to $82.6 million (33 percent of the $250.2 million cost), to enable VDOT to finance and expedite part of its $2.7 billion I-81 Capital Improvement Program. The rural project extends the acceleration/deceleration and merge/diverge areas making entering and exiting the highway safer and more functional at various access points along I-81. It will also make a number of improvements along I-81 in Roanoke County, including adding lanes and replacing bridges.
Read the news release here.
Project Link