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Project Profiles

I-93 Reconstruction: Salem to Manchester

Location

Southern New Hampshire

Project Sponsor / Borrower

New Hampshire Department of Transportation (NHDOT)

Program Areas

Project DeliveryProject Finance

Mode

Highway

Description

The Rebuilding I-93 Salem to Manchester project involves the reconstruction of a 19.8-mile segment of I-93 in southern New Hampshire from the Massachusetts state line in Salem to the I-293 interchange in Manchester. Improvements include widening the highway, which currently features two general purpose lanes in each direction, to provide four travel lanes in each direction. The project also includes design modifications and infrastructure improvements including the replacement of red-lined bridges at five interchanges and the provision of three new park-and-ride lots, expanded commuter bus service to Boston, and enhanced Intelligent Transportation Systems (ITS).

Cost

$606 million

Funding Sources

  • GARVEE bonds - $195 million
  • Annual Highway Appropriations
  • State Highway Funds and Turnpike Toll Credits
  • Motor Fuel Tax Revenue bonds

Project Delivery / Contract Method

Design-Bid-Build

Private Partner

None

Project Advisors / Consultants

The Louis Berger Group

Lenders

Bondholders

Duration / Status

FHWA issued a Record of Decision (ROD) for the project in June 2005, but work on the project was delayed by a suit brought against the state and FHWA by the Conservation Law Foundation in February 2006. A supplemental EIS was prepared and ultimately received a Supplemental ROD in May 2010. During this period work that did not necessitate the widening of the highway was completed, including the repair/replacement of seven "red-listed" bridges and the construction of park-and-ride lots. As of March 2012 at total of 16 construction contracts with a total value of approximately $235 million had been awarded, 12 of which were complete. The entire project is expected to be complete by 2020.

Financial Status

Initial $80.0 million GARVEE bond transaction issued November 4, 2010. Second $98.25 million GARVEE issuance May 16, 2012.

Innovations

New Hampshire issued the $20,040,000 2010 Series A Bonds as "Build America Bonds" pursuant to the American Recovery and Reinvestment Act of 2009 (ARRA) and will receive subsidy payments from the U.S. Treasury equal to 35 percent of the taxable interest the state pays on them. The $59,960,000 2010 Series B Bonds were issued as "Recovery Zone Economic Development Bonds" pursuant to ARRA and will receive payments from the Treasury equal to 45 percent of the taxable interest paid by the state.

Related Links / Articles

I-93 Project Site

NH Statute 228 A - Federal Grant Anticipation Bonds

Contacts

Peter E. Stamnas, P.E.
Project Manager
New Hampshire Department of Transportation
John O. Morton Building
7 Hazen Drive
Concord, NH 03302-0483
Phone: (603) 271-2171

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