Riverside County, California
|Project Sponsor / Borrower||
Riverside County Transportation Commission (RCTC)
|Fiscal Year Approved||Fiscal Year 2017|
Highway / Express Lanes
The I-15 Express Lanes project will add two tolled express lanes in each direction on a 14.6-mile section of Interstate 15 in Riverside County, California between the Cajalco Road interchange near the City of Corona to just south of the SR 60 interchange near the San Bernardino/Riverside county line. I-15 is a major north-south truck/passenger route that linking Los Angeles and Orange Counties in Southern California and providing onward connections to Las Vegas and points beyond. I-15 also provides access to major east-west limited access highways including SR-91, SR-60, I-10, and SR-74.
The project will add the new express lanes in the median of I-15 and will install retaining walls, storm water runoff treatment services, 11 bridge widenings, tie-ins to the existing travel lanes, an electronic toll collection system, a customer service center and a traffic management system. The project is designed to improve congestion levels and travel times in the I-15 corridor and expand travel choices. It will also provide direct access to the 91 Express Lanes extension in Riverside County, the first intersection of two major express lane corridors in Southern California. By reducing congestion on I-15, the project will also minimize traffic diversions to local roadways and manage projected growth in traffic.
$461.3 million (TIFIA eligible project costs)
TIFIA Loan - $152.2 million
Measure A sales tax bonds - $114.2 million
CMAQ Contribution - $110.0 million
Measure A sales tax revenues - $93.8 million
Interest income - $0.8 million
|Project Delivery / Contract Method||
Design-builder - Skanska-Ames joint venture
|Project Advisors / Consultants||
To USDOT Build America Bureau
USDOT TIFIA, Bondholders
|Duration / Status||
RCTC awarded the design-build contract on April 12, 2017. Construction is expected to begin in 2018, with substantial completion estimated by mid-2020.
|TIFIA Credit Assistance||
Direct Loan - $152.2 million
The TIFIA loan will be repaid through a pledge of the project's gross toll revenues.
TIFIA credit agreement was signed on July 20, 2017, and will mature no later than June 1, 2056 or 35 years after substantial completion.
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