LA 3241: Segments 1 thru 3
Source: Credit to Louisiana Department of Transportation and Development
Project Name | LA 3241: LA 36 To LA 435; The Louisiana Highway 3241 project | |
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Location | St. Tammany Parish, Louisiana | |
Project Sponsor / Borrower | Louisiana Department of Transportation and Development (LADOTD) | |
Program Areas | ![]() ![]() ![]() ![]() |
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Value Capture Techniques | Asset Recycling, Utilizes abandoned rail corridor to enhances economic development in surrounding parishes | |
Mode | Highway and Bridge | |
Description | The project is a one of three segments of a new four-lane, divided highway from I-12 near Lacombe to the southern terminus of LA 21 in Bush. This segment connects LA 36 to LA 435 in Talisheek. The length of this segment is 8.2 miles. This project is being funded by the British Petroleum Deepwater Horizon settlement. A TIFIA loan is allowing LADOTD to accelerate delivery of the project. Highway 3241 is a three-phase project which will create a four-lane highway from the intersection of Louisiana Highway 40/41 in Bush to Interstate 12 in St. Tammany Parish. The first two phases have already been let for bid and contractors have been secured. The third phase is expected to go out for bid in 2023. The first phase will be between Highway 40/41 and Louisiana Highway 435. The second phase will be between Highway 435 and Louisiana Highway 36. The third phase will be between Highway 36 and Interstate 12. The LA 3241 project was originally part of the state's Transportation Infrastructure Model for Economic Development or TIMED program that encompassed 16 projects statewide. The TIMED program began in 1989 following voter approval of a 4-cent increase to the state's gasoline tax. Louisiana accelerated the program later through the sale of bonds. The LA 3241 project is the 15th TIMED project to move forward. |
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Cost | $62.56 million | |
Funding Sources |
TIFIA Loan – $26.9 million
Other Federal funds for pre-construction – $14.3 million State funds used for pre-construction – $3.6 million Other Federal funds for construction – $28.5 million Other State funds for construction – $14.7 million Act 443 funds used for financing cost – $0.6 million |
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Project Delivery / Contract Method | LA DOTD executed the TIMED Program through an innovative public-private partnership known as LTM.
LA DOTD awarded its program management contract using a competitive, quality-based model.
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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 USDOT TIFIA | |
Lenders | USDOT TIFIA | |
Duration / Status | Construction commenced in December 2021 and is expected to be completed by May 2023. | |
TIFIA Credit Assistance | Direct Loan of $26.9 million (Credit Agreement Executed in December 17, 2021) The TIFIA loan will be repaid with Act 443 funds, which derives from a settlement with BP related to the Deepwater Horizon oil spill litigation. Act 443 allocated $689 million to ten LADOTD projects, with $50 million allocated to construction of LA 3241 (multiple segments). Approximately $28 million of the LA 3241 allocation will be used to repay TIFIA and cover administrative expenses for this segment. |
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Financial Status/Financial Performance | The TIFIA loan closed in December 2021. The loan will be drawn from 2022 to 2023 and be repaid from 2023 to 2029. | |
Innovations |
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Related Links / Articles | ||
Contacts | Buddy Porta is the LA DOTD TIMED program manager |
LA 3241: Segment 1; La 434 / I-12 Interchange to La 36
Source: Credit to Louisiana Department of Transportation and Development
LA 3241: Segment 2 from La 36 to La 435
Source: Credit to Louisiana Department of Transportation and Development
LA 3241: Segment 3 from LA 435 to LA 40/LA 41
Source: Credit to Louisiana Department of Transportation and Development
Louisiana Gov. John Bel Edwards and other local officials join together for the ceremonial "groundbreaking" of the new Louisiana Highway 3241, on Friday afternoon in Bush.
Source: Credit to Louisiana Department of Transportation and Development