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Project Profile: Louisiana TIMED Program

Louisiana TIMED Program

photo credit: Joe Dun, Audubon Bridge Constructors

Location

Louisiana (statewide)

Project Sponsor / Borrower

Louisiana Department of Transportation and Development (LA DOTD)

Program Areas

Alternative Project Delivery

Mode

Highway / Bridge / Port / Airport

Description

The TIMED (Transportation Infrastructure Model for Economic Development) Program was a $5.2 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 included widening over 500 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 that resulted in increased cost estimates and completion delays to 2016.

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

Cost

$5.24 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) - $4.65 billion
Project Delivery / Contract Method

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

Individual construction contracts were awarded using design-bid-build methods with the exception of the legislatively-approved use of design-build for the John James Audubon Bridge, a first for LA DOTD.

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

The TIMED Program was completed in 2016 rather than the 2002 estimate of 2031. It included the following projects:

  • Tchoupitoulas Street (New Orleans) improvement
  • WestBank Expressway in Jefferson Parish from Ames Blvd. to Avenue D
  • Port of New Orleans improvements
  • Louis Armstrong International Airport improvements
  • U.S. 90 widening from Morgan City to Houma
  • West Napoleon Avenue improvements
  • U.S. 171 widening from Shreveport to Lake Charles
  • U.S. 61 widening
  • LA 15 widening
  • John James Audubon Bridge
  • Earhart Boulevard
  • Huey P. Long Bridge widening
  • U.S. 165 widening
  • U.S. 167 widening
  • Curtis-Coleman Memorial (Fort Buhlow) Bridge replacement

Two projects in the original plan, delayed because of environmental and legal issues, will not be funded using TIMED funds, and instead will be incorporated into the state's highway priority program:

  • I-12 to Bush (LA 3241) - new, 20-mile four-lane highway from I-12 to Bush (est. $230 million)
  • Florida Avenue Bridge - new 4-lane bridge over the Industrial Canal in New Orleans (est. $270 million)
Financial Status

A $264 million bond sale in 1990 provided initial funding, and the program continued on a pay-as-you-go system. From 2000 to 2010, the department sold approximately $2.85 billion in bonds.

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

LA DOTD Announcement: ARTBA Innovation Award

Louisiana State Government Overview (2012-2016) - Transportation and Infrastructure

Contacts

Not available

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