- Briefing Room
|Project Sponsor / Borrower||
Maine Department of Transportation (MaineDOT)
The existing Veterans Memorial Bridge was built in 1954 to connect Portland's West End to South Portland over the Fore River. The new bridge, which includes a bicycle/pedestrian pathway as well as green spaces, is designed to last 100 years.
MaineDOT financed the project in part with GARVEE bonds sold as taxable Build America Bonds and tax exempt revenue bonds by the Maine Municipal Bond Bank in November 2010.
GARVEE bonds ($24.1 million taxable Build America Bonds, $25.9 million tax exempt revenue bonds) - $50 million
TransCap (Transportation Capital Improvement Trust Fund) revenue bonds - $13.1 million
|Project Delivery / Contract Method||
Design-builder - Reed & Reed, Inc.
|Project Advisors / Consultants||
Reed & Reed, Inc. Team
Hawkins, Delafield & Wood, LLP - Bond Counsel
|Duration / Status||
Construction began June 2010; open July 2012.
|Related Links / Articles|