|Project Sponsor / Borrower||
Louisiana Department of Transportation and Development (LA DOTD)
Highway / Bridge / Port / Airport
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
|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.
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
|Duration / Status||
The TIMED Program was completed in 2016 rather than the 2002 estimate of 2031. It included the following projects:
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:
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.
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