photo credit: Minnesota Department of Transportation
| Location | City of New Ulm to the City of Nicollet, MN |
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| Project Sponsor/Borrower: | Minnesota Department of Transportation (MnDOT) and Minnesota Management and Budget (MMB) |
| Program Areas |
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| Mode | Highway |
| Description | Trunk Highway 14 (TH14), a major east-west highway in southern Minnesota, provides important links between multiple regional corridors. MnDOT is reconstructing a 12.5-mile segment of TH14 as a four-lane divided highway to address safety, traffic congestion, truck traffic, and highway access issues. The project includes expansion of existing one-lane sections to two lanes in each direction, replacement of three bridges, and construction of two additional bridges, while also enhancing lighting, intelligent transportation system features, snow fences, and safer roadway geometry. The project includes the following elements:
In recent years, TH14 has been rated as one of the deadliest highways in Minnesota. The project is projected to eliminate more than two-thirds of expected crashes in the project area over the next 20 years, improve travel times, increase the movement of goods, and provide greater access to health care. |
| Cost | $98.4M (TIFIA-eligible costs) |
| Funding Sources | Federal Better Utilizing Investments to Leverage Development (BUILD) grant: $22.0M |
| Project Delivery / Contract Method | Design-Bid-Build |
| Private Partner | Construction: Hoffman Construction Co. |
| Project Advisors / Consultants | Financial Advisor to the Build America Bureau: Fieldman, Rolapp & Associates, Inc. |
| Lenders | Build America Bureau (TIFIA) |
| TIFIA Credit Assistance | $48.2M (direct loan) |
Financial Status/Financial Performance: |
The TIFIA loan agreement was executed in December 2022, and the loan will mature in 2057. The 2022 TIFIA loan is payable from revenues generated from specific oversize and overweight permits paid by commercial vehicles. State legislation was enacted to dedicate these permit revenues to the repayment of this TIFIA loan. Previously, these revenues were not dedicated to any specific purpose and were deposited in the state Trunk Highway Fund. |
Duration/Status: |
Construction began in 2022, and substantial completion is scheduled for November 2023. |
| Innovations | The project is benefiting from the TIFIA Rural Projects Initiative of the Build America Bureau, which offers significant savings over traditional TIFIA loans and other commercial financing products, including:
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| Related Links / Articles | MnDOT project page |
| Contacts | Todd Kjolstad Zachary Tess |
