- Briefing Room
Southern New Hampshire
|Project Sponsor / Borrower||
State of New Hampshire / New Hampshire Department of Transportation (NHDOT)
The I-93 Improvements from Salem to Manchester project involves the reconstruction and widening of a 19.8-mile segment of I-93 in southern New Hampshire from the Massachusetts state line in Salem to the I-293 interchange in Manchester. The highway currently provides two lanes in each direction and will be expanded to four travel lanes in each direction. The project also includes interchange reconstruction and reconfiguration, bridge replacements, the addition of three new park-and-ride lots, expanded commuter bus service to Boston, and enhanced Intelligent Transportation Systems (ITS).
The project has long been designated as the state's number one priority transportation improvement project. According to NHDOT, this project is one of the most ambitious ever undertaken in New Hampshire and is needed to reduce congestion and improve safety. The original section of the highway was built in the early 1960s to accommodate 60,000 to 70,000 vehicles per day. In 1997, average traffic volumes were in excess of 100,000 vehicles per day in Salem, with segments between certain interchanges carrying up to 80,000 vehicles per day. Projections indicate that traffic will increase to 140,000 vehicles per day in Salem by 2020.
NHDOT is constructing the project in eight discrete segments and will use a TIFIA loan to advance the construction of remaining elements of the mainline reconstruction.
Federal funding - $355.9 million
GARVEE bonds - $193.8 million
TIFIA loan - $200.0 million
State Highway Funds - $28.0 million
Turnpike Toll Credits - 34.0 million
|Project Delivery / Contract Method||
|Project Advisors / Consultants||
To USDOT TIFIA JPO
Bondholders (GARVEEs), USDOT TIFIA
|Duration / Status||
Construction began in 2006 and is anticipated to be substantially complete by 2020. Sixteen construction contracts are complete as of July 2017, and a remaining five are under construction.
|TIFIA Credit Assistance||
Direct Loan - $200 million.
The TIFIA loan will be repaid through incremental gas tax revenues and a General Obligation pledge of the state.
Initial $80.0 million GARVEE bond transaction issued November 4, 2010. Second $98.25 million GARVEE issuance May 16, 2012.
The TIFIA credit agreement was signed on May 24, 2016. Interest-only TIFIA loan repayments began in 2016, and interest and principal repayments begin in 2025, with final maturity in 2034.
|Related Links / Articles|
Marie Mullen, Director of Finance
William Dwyer, Treasurer