Construction began in 2015, and substantial completion is expected in late 2018.
The Monroe Expressway Project is a new, four-lane tolled expressway that will extend nearly 20 miles from US 74 near I-485 in Mecklenburg County to US 74 between the towns of Wingate and Marshville in Union County, North Carolina. The Project includes the reconstruction of a one-mile portion of US 74 that includes an elevated, six-lane controlled-access freeway. The Project is currently under construction and is anticipated to reach completion by November 2018.
- Federal Sources
- TIFIA Loan: $166.5 million
- State Sources
- Appropriations Bonds: $467.1 million
- Toll Revenue Bonds: $144.4 million
- NCDOT State Highway Trust Fund: $22.0 million
- Financial Advisor – Public Financial Management, Inc.
- Legal Advisor – Hunton & Williams LLP
To USDOT Build America Bureau:
- TIFIA Financial Advisor – The Louis Berger Group, Inc.
- TIFIA Legal Advisor – Nixon Peabody LLP
Direct loan: $166.5 million. The TIFIA loan will be repaid with gross toll revenues generated from the Project.
1548 Mail Service Center
Raleigh, NC 27699-15481