DOT Issues TIFIA Loan for Oklahoma Expressway Project
Transport Topics Eleanor Lamb | Staff Reporter May 27, 2020 11:30 AM, EDT
The U.S. Department of Transportation recently announced it will provide a loan for up to $120.1 million to the Oklahoma Turnpike Authority for an expressway project in the Tulsa area.
The Transportation Infrastructure Finance and Innovation Act loan, announced May 20, will be provided through DOT’s Build America Bureau. Rather than grants, the TIFIA program offers direct loans that support projects related to highways, bridges, intelligent transportation systems, freight facilities and transit.
Specifically, the loan will be dedicated to the Gilcrease Expressway West project, which is meant to relieve congestion during peak travel hours. Tulsa is about 100 miles northeast of Oklahoma City...
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