The U.S. Department of Transportation (USDOT) is providing a $152.2 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to the Riverside County Transportation Commission (RCTC) for the Interstate 15 Express Lanes Corridor Project.
The project will cover 14.6 miles of I-15 in Riverside County, California, between the Cajalco Road interchange near the city of Corona to just south of the State Route 60 interchange near the San Bernardino/Riverside county line. The roadway serves as a major north-south route that links portions of southern California to Las Vegas and portions of Los Angeles and Orange counties in California.
The RCTC says the project would be delayed for at least two years without the TIFIA loan. The agency says the project will create more than 3,300 jobs during construction and 525 permanent jobs once it is complete.
“By leveraging a loan from the Bureau, more projects like the I-15 Express Lanes Project can become viable,” says Marty Klepper, executive director of USDOT’s Build America Bureau, which administers the TIFIA program. “We have an open door policy for any transportation project sponsor to meet with our team to discuss bureau loan programs that could move projects forward.”
When the express lanes are complete I-15 will include north and south managed lanes, retaining walls, storm water runoff treatment services, 11 bridge widenings, tie-ins to existing travel lanes, electronic toll collection system, customer service center and traffic management system.