Skip to main content

How the Center for Innovative Finance Support Office Does Business...

Project Profiles

Veterans Memorial Bridge Replacement - Portland, Maine


Portland, Maine

Project Sponsor / Borrower

Maine Department of Transportation (MaineDOT)

Program Areas

Project Finance




The existing Veterans Memorial Bridge was built in 1954 to connect Portland's West End to South Portland over the Fore River. The new bridge, which includes a bicycle/pedestrian pathway as well as green spaces, is designed to last 100 years.

GARVEE bonds were sold as taxable Build America Bonds and tax exempt revenue bonds by the Maine Municipal Bond Bank in November 2010 to finance a portion of the project.


$63.1 million

Funding Sources

$50 million - GARVEE bonds ($24.1 million taxable Build America Bonds, $25.9 million tax exempt revenue bonds)

$13.1 million - TransCap (Transportation Capital Improvement Trust Fund) revenue bonds

Project Delivery / Contract Method


Private Partner

Design-builder - Reed & Reed, Inc.

Project Advisors / Consultants

Reed & Reed, Inc. Team

  • T.Y. Lin International - Lead design and engineering
  • SMRT - Landscape design
  • GZA GeoEnvironmental - Geotechnical engineering
  • Barton & Gingold - Public outreach

Hawkins, Delafield & Wood, LLP - Bond Counsel



Duration / Status

Construction began June 2010; open July 2012

Financial Status



  • Use of 361 pieces of precast concrete to facilitate accelerated project delivery.

Related Links / Articles

FHWA "Every Day Counts" Prefabricated Bridge Elements and Systems Information


Jeff Folsom
Project Manager
MaineDOT Bridge Program
Tel: (207) 624-3490

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