Location | Portland, Maine |
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Project Sponsor / Borrower | Maine Department of Transportation (MaineDOT) |
Program Areas | |
Mode | Bridge |
Description | 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. MaineDOT financed the project in part with GARVEE bonds sold as taxable Build America Bonds and tax exempt revenue bonds by the Maine Municipal Bond Bank in November 2010. |
Cost | $63.1 million |
Funding Sources | GARVEE bonds ($24.1 million taxable Build America Bonds, $25.9 million tax exempt revenue bonds) - $50 million TransCap (Transportation Capital Improvement Trust Fund) revenue bonds - $13.1 million |
Project Delivery / Contract Method | Design-build |
Private Partner | Design-builder - Reed & Reed, Inc. |
Project Advisors / Consultants | Reed & Reed, Inc. Team
Hawkins, Delafield & Wood, LLP - Bond Counsel |
Lenders | Bondholders |
Duration / Status | Construction began June 2010; open July 2012. |
Financial Status | Closed |
Innovations |
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Related Links / Articles | FHWA "Every Day Counts" Prefabricated Bridge Elements and Systems Information |
Contacts | Not available |