Skip to main content

Project Profiles

Louisiana TIMED Program

Location

Louisiana (statewide)

Project Sponsor / Borrower

Louisiana Department of Transportation and Development (LA DOTD)

Program Areas

Project DeliveryRevenue - Non-Road Pricing Revenue

Mode

Highway / Bridge / Port / Airport

Description

The TIMED (Transportation Infrastructure Model for Economic Development) Program is a $4.6 billion transportation infrastructure program designed to increase economic development in Louisiana by investing in transportation improvement projects. The program began in 1989 when voters approved a 4¢/gallon tax on gasoline to fund the projects designated by Act 16 of the 1989 Louisiana legislature. The TIMED program includes widening 536 miles of state highways to four lanes on 11 project corridors, widening and/or new construction on three major bridges and improvements to both the Port of New Orleans and Louis Armstrong International Airport.

The program, originally scheduled for completion in 2004, was significantly behind schedule by the late 1990s and a new completion target of 2031 was estimated. In 2002, LA DOTD took steps to get the program back on track. Debt financing was applied to the project and LA DOTD hired a private manager, Louisiana TIMED Managers (LTM), to oversee the accelerated TIMED schedule. A revised completion date of 2010 was estimated.

However, the TIMED Program was also impacted by Hurricanes Katrina and Rita in 2005 and resulted in increased cost estimates and completion delays to 2013. Two projects are not currently included in the $4.6 billion estimated program cost.

LTM serves as an extension of LA DOTD and manages the overall program delivery, the financing strategy, public outreach, scheduling, pre-construction activities, and construction administration.

Cost

$4.6 billion

Funding Sources

  • Initially pay-as-you-go through motor fuel tax receipts and one bond sale in 1990.
  • Additional revenue bond sales starting in 2002 (backed by dedicated 4¢/gallon motor fuel tax)

Project Delivery / Contract Method

LA DOTD awarded its program management contract using a competitive, quality based model.

Individual construction contracts are being awarded using design-bid-build methods and one bridge project will utilize legislative-approved design-build delivery, allowing for LA DOTD's first experience with design-build.

Private Partner

Program managers: Louisiana TIMED Managers (LTM) - Joint venture of Parsons Brinckerhoff, the LPA Group, and Gulf Engineers & Consultants (GEC)

Project Advisors / Consultants

Cypress Capital Corporation - financial

Lenders

Bondholders

Duration / Status

LA DOTD has now projected completion of the TIMED Program by 2013 rather than the 2002 estimate of 2031. The following program projects have been completed:

  • U.S. 90 widening from Morgan City to Houma
  • WestBank Expressway in Jefferson Parish from Ames Blvd. to Avenue D
  • Louis Armstrong International Airport improvements
  • Port of New Orleans improvements
  • LA 15 widening
  • U.S. 171 widening from Shreveport to Lake Charles
  • Tchoupitoulas Street (New Orleans) improvement
  • West Napoleon Avenue improvements
  • John James Audubon Bridge
  • U.S. 165 widening
  • U.S. 61 widening
  • Earhart Boulevard

The following projects remain to be completed:

  • Huey P. Long Bridge widening - fall 2013
  • Florida Ave. Bridge replacement - under reevaluation (not included in program cost)
  • LA 3241 - under reevaluation (not included in program cost)
  • U.S. 167 - partially complete, remaining segment construction to start early 2013

Financial Status

A $264 million bond sale in 1990 provided initial funding, and the program continued on a pay-as-you-go system. In August 2002, with the guidance of LTM, a $275 million bond sale was issued as the first step in the conversion to a debt-financed program. A $548 million bond sale occurred in 2005, another $1.1 billion in 2006, and $485 million in 2009.

Innovations

  • Innovative program management partnership wedding financial planning and program management
  • Innovative mixture of debt and pay-as-you-go financing to significantly accelerate program completion

Related Links / Articles

Louisiana TIMED Program Website

TIMED Program 2010 Annual Report

Contacts

LTM Public Outreach Office
6300 Corporate Boulevard, Suite 100
Baton Rouge, LA 70809
(866) TIMED LA or (866) 846-3352

Federal Highway Administration | 1200 New Jersey Avenue, SE | Washington, DC 20590 | 202-366-4000
To view PDF files download the Adobe Acrobat Reader®