Board OKs traditional financing for I-15 expansion

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Updated: 8/19/2014 7:16 pm

CARSON CITY, Nev. (AP) — State officials have decided to shift back to more traditional methods to finance a Las Vegas freeway expansion that's the largest road project in Nevada history.

Members of the state transportation board voted Monday to use government-issued bonds for Project Neon instead of the untested P3 public-private partnership. The public-private partnership would have involved using private financing, and state officials would have paid off the debt like a mortgage.

But costs for that plan have jumped, largely due to higher interest rates.

Project Neon will improve a stretch of Interstate 15 that sees about 257,000 vehicles a day and runs from Sahara Avenue to the Spaghetti Bowl interchange.

The total cost of the project is estimated at more than $1 billion.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!

Featured Segments/Shows

All content © Copyright 2015 Intermountain West Communications, LLC. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.