Substantial completion is expected in 2020.
The Project will reconstruct 19.8 miles of Interstate 93 and widen the interstate from two to four lanes in each direction from Manchester, NH at the I-93/I-293 interchange to Salem, NH at the New Hampshire / Massachusetts state line. In addition, the Project will reconstruct and reconfigure interchanges, complete work on bridges, and construct park-and-ride lots and bus facilities.
The Project is being carried out by the State of New Hampshire acting by and through the New Hampshire Department of Transportation (NHDOT). The State has long designated the Project as its number one priority transportation improvement project.
According to NHDOT, this project is one of the most ambitious projects ever undertaken in the State and is needed to reduce congestion and improve safety. The original section of the highway was built in the early 1960s to accommodate 60,000 to 70,000 vehicles per day. In 1997, average traffic volumes were in excess of 100,000 vehicles per day in Salem, with segments between interchanges carrying up to 80,000 vehicles per day, causing congestion in the region.
The Project is being constructed in eight discrete segments and NHDOT will utilize the TIFIA loan to advance the construction of the remaining elements of the Mainline Construction – Capacity Improvements.
State PAYGO: $28 million
GARVEE Bonds: $193.8 million
Federal PAYGO: $355.9 million
Toll Credit PAYGO: $34.0 million
TIFIA Loan: $200.0 million
To State of New Hampshire:
Financial Advisors – Public Resources Advisory Group
Legal Advisors – Locke Lord LLP
To USDOT TIFIA JPO:
TIFIA Financial Advisor – Deloitte
TIFIA Legal Advisor – Bryant Miller Olive
Direct loan: $200 million. The TIFIA loan will be repaid through incremental gas tax revenues and a General Obligation pledge of the State.
Commitment to spending TIFIA debt service savings on Statewide rural projects