Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: January 2, 2017

Project Name: Lewis and Clark Bridge (East End Crossing) Louisville KY
Year in Operation: 2017
Sector: Transportation
Subsector: Roads, Bridge, Tunnel
Status: In Operation
Type: New Facility
Description: 8.5 miles in total length, the new East End Crossing connects Utica, Indiana to the East End of Louisville, KY, over the Ohio River. The project includes 3.5 miles of approach roadway, including a 1700 foot tunnel beneath US Route 42, the 1200 foot Harrods Creek Bridge; a 2500 foot main span across the Ohio River with two (2) three hundred (300) foot main towers; 4.5 miles of roadway in Indiana, 14 bridges and overpasses. The Lewis and Clark bridge is a tolled facility, with all-electronic tolling, no toll booths, no coin machines, no lines and no stopping.
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments:

Project Locations

Address: Interstate 265
City: Louisville
State: Kentucky
Country: United States of America

Address: Interstate 265
City: Utica
State: Indiana
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: Access to the land during design, construction and the 35 year O&M term.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): $32.9 million dollar (2012 dollars) annual availability payment from government to the Concessionaire, payable over the 35 year term of O&M. Availability payments have 20% of their growth indexed to CPI, and 80 percent of their growth indexed at a constant 2.5%. A maximum of $43.0 million in Availability payments in first full year of operations.
Checkbox Checked Environmental Clearance: Obtained by the state sponsors.
Checkbox Checked Environmental Clearance: Obtained by the state sponsors.
Checkbox Checked Environmental Clearance: Obtained by the state sponsors.
Checkbox Checked Environmental Clearance: Obtained by the state sponsors.
Checkbox Checked Environmental Clearance: Obtained by the state sponsors.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

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Checkbox Checked

Direct Cash Support

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Checkbox Checked

From Public Sponsor of Project - Direct Expenditure of Appropriated Public Funds: $230 million from Indiana to fund milestone payments to the contractors, as specified agreed stages are successfully reached by the concessionaire.

Arrow Right
Checkbox Checked

Credit Enhancements

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Checkbox Checked

From Other Public Entities: $162 Million TIFIA loan Agreement with US DOT entered into on April 15, 2015 to cover future milestone payments.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: $702 million Private Debt issued as private activity bonds.

Checkbox Checked

From Producers as Equity: $78 million in Private Equity from Concessionaire, WVB East End Partner, a consortium of Walsh Construction , Vinci Concessions, and Bilfinger Berger PI International to construct the East End Crossing.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

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
Combined Term: Initial Design, Construction, O&M Period
39
0
Forms
Description
Don't Know
Commercial Close with WVB on December 27, 2012. Facility Open December 30, 2016. 35 year O&M. 

Project Value (If and As Known)

Date of Estimated Project Value: November 30, -0001
Project Value
Hard Cost
Hard & Soft Costs
Pre-Feasibility (Public Sponsor Expense)
$10-50 Million US
$10-50 Million US
Feasibility
$25-100 Million US
$25-100 Million US
Design
$100-500 Million US
$100-500 Million US
Construction
$250 Million - 1 Billion US
$250 Million - 1 Billion US
Operations & Maintenance
$200-500 Million US
$200-500 Million US
Total
$500 Million - 2 Billion US
$500 Million - 2 Billion US

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