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Transportation Commission Authorizes ODOT to Negotiate Federal Financing for Gilcrease Expressway

Transportation Commission Authorizes ODOT to Negotiate Federal Financing for Gilcrease Expressway

Public Radio Tulsa
By MATT TROTTER • JAN 6, 2020

The Oklahoma Transportation Commission on Monday authorized the Oklahoma Department of Transportation to negotiate a financing agreement with the federal government for part of the Gilcrease Expressway.

"This will allow us to go ahead and secure the last piece of the financing that’s going to be necessary to move the Gilcrease project forward to construction and then have a payment agreement with the turnpike authority to facilitate the payment," said ODOT Director Tim Gatz.

The federal line of credit will likely be used to secure up to $100 million in private funding for the roughly $330 million project. Financing plans have always had state, local and private funding in the mix.

Gatz said the 5-mile toll road includes 22 bridges and is an ambitious project... FULL ARTICLE

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