Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DB
# of Projects: 1
100% of the Results

Background informationProject Created: September 15, 2008

Project Name: Route 3 North Transportation Improvement Project
Year in Operation: 2005
Sector: Transportation
Subsector: Roads
Status: In Operation
Type: Substantial Alteration of Existing Facility
Description: Toll Free reconstruction and widening of Route 3 from Burlington, Massachusetts to New Hampshire Line.
Delivery Method as described in the country where it's located: Design Build
Is the project still active: Yes
Comments: Design Build Project -- complete redesign, widening and reconstruction of 21 miles of multilane highway, addition of median shoulder, 30 foot clear zones, 13 replaced interchanges, 29 replaced bridges and structures.

Project Locations

Address:
City: Burlington
State: Massachusetts
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Land: Commonwealth of Massachusetts owned most of land and acquired additional land for expansion.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Government created 63-20 entity to sell tax exempt bonds sufficient to cover costs of design and construction, all backed by pledge of future federal highway allocations and by the credit of the Commonwealth of Massachusetts. This is not a toll project, either before or after reconstruction. There are no revenues from tolls.
Checkbox Checked Environmental Clearance: By Commonwealth of Mass.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Tax Exempt Bonds sold in private market by 63-20 corporation, with 34 year maturity. Government pledge of future federal highway grants to the state and pledge of Commonwealth's credit allowed "non-profit" 63-20 corporation to sell bonds to finance design and construction.

Checkbox Checked

Rated by Standard & Poors

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for both initial design and construction with a single entity. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Initial Design and Construction
4
0
Forms
Description
Mandatory Statutory Form
Massachusetts form, with modifications. 

Project Value (If and As Known)

Date of Estimated Project Value: September 15, 2008
Project Value
Hard Cost
Hard & Soft Costs
Pre-Feasibility (Public Sponsor Expense)
(none)
> $50 Million US
Construction
$250 Million - 1 Billion US
$250 Million - 1 Billion US

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