Project Profile: Intercounty Connector

photo credit: Maryland State Highway Administration ICC Project

Location	Montgomery and Prince George's County, Maryland
Project Sponsor / Borrower	Maryland State Highway Administration (SHA) Maryland Transportation Authority (MdTA)
Program Areas
Mode	Toll Highway
Description	The 18-mile, 6-lane Intercounty Connector (ICC), also referred to as Maryland Route 200, is a toll highway in Maryland connecting I-270 in Gaithersburg and US 1 in Laurel. The road links existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County north of Washington, DC. The ICC was initially planned as a spur off of the region's proposed second Beltway. The ICC project was the focus of various studies since the 1950s and finally began construction in 2007, opening in segments: A six-mile initial section from I-370 at Shady Grove to MD 97/Georgia Avenue in Rockville/Olney (Contract A) An 11-mile section from Georgia Avenue to I-95 (Exit 31) at Laurel (Contracts B & C) A 1-mile section from I-95 to US 1 (Contracts D & E) The completed highway uses a variable tolling structure based on peak and off-peak travel times. Toll collection is fully electronic, the first such application in the state.
Cost	$2,386 million (per the final financial plan update)
Funding Sources	Federal funds (per the 2011 financial plan) GARVEE bonds - $750.0 million (backed by future Federal aid receipts) Special Federal funds - $19.3 million (National Corridor Planning and Border Infrastructure Program funding, SAFETEA-LU National Corridor Improvement Program and high priority project funding) State funds (per the 2011 financial plan) MdTA Toll Revenue bonds and cash - $668.9 million (backed by future MdTA system toll revenue) TIFIA loan - $516.0 million (backed by future MdTA system toll revenue) State of Maryland Transportation Trust Fund - $180.0 million (motor fuel tax receipts, motor vehicle excise taxes, motor vehicle fees, corporate income taxes, operating revenues) State of Maryland General Fund and General Obligation Bonds - $264.9 million
Project Delivery / Contract Method	Design-build
Private Partner	Design-builders Intercounty Constructors - A Joint Venture of Granite Construction Company, Corman Construction, Inc., and G.A. & F.C. Wagman, Inc. MD200 Constructors - A Joint Venture of Kiewit Southern Co., Corman Construction, and G.A. & F.C. Wagman Inc. IC3 - A Joint Venture of Shirley Contracting Company, LLC; Clark Construction Group, LLC; Guy F. Atkinson Construction, LLC; Facchina Construction Company, Inc. and Trumbull Corporation
Project Advisors / Consultants	To USDOT TIFIA JPO TIFIA Legal Advisors - Katten Muchin Rosenman TIFIA Financial Advisors - Scully Capital
Lenders	Bondholders, USDOT TIFIA
Duration / Status	Construction began in mid-2007. Contract A opened in February 2011. Contracts B & C opened to traffic in November 2011. Contracts D & E opened in November 2014.
TIFIA Credit Assistance	Direct Loan - $516.0 million The TIFIA loan will be repaid using net toll revenues from the Maryland Transportation Authority.
Financial Status / Financial Performance	The TIFIA loan agreement signed on December 19, 2008. TIFIA interest payments began in 2013 and principal payments are scheduled to begin in 2018 with final repayment in 2046.
Innovations	Debt is secured by revenues from tolls on the ICC and the seven other existing toll facilities operated by MdTA Successful issuance of $750 million in GARVEE bonds to support the construction of the project
Related Links / Articles	Facility Website
Contacts	Not available