U.S. DOT to provide $325 million TIFIA loan for California's Gerald Desmond Bridge replacement
Amanda Bayhi | May 26, 2014
The U.S. Department of Transportation is providing a $325 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to help pay for the Gerald Desmond Bridge replacement project in Long Beach, Calif., Transportation Secretary Anthony Foxx announced last week.
The $1.2 billion project — a joint effort of the California Department of Transportation (Caltrans) and the Port of Long Beach — will replace the approximately 50-year-old existing bridge.
Some safety improvements include increasing the number of travel lanes to six, adding new emergency lanes and shoulders, and a creating a higher clearance to accommodate large cargo containers.
“This project will improve the reliability of freight movement,” Deputy Federal Highway Administrator Gregory Nadeau said in a prepared statement. “It will relieve congestion and make it easier to access one of the nation’s most thriving ports.”
In addition to the TIFIA loan, the project is receiving $675 million in other federal funds.