Beshear: Ky. approved for federal bridges project loan - WDRB 41 Louisville News

Beshear: Ky. approved for federal bridges project loan

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LOUISVILLE, Ky. (WDRB) – The Federal Highway Administration has approved a loan to help Kentucky finance its portion of the Ohio River Bridges Project, according to Gov. Steve Beshear's office.

The $452 million loan would be used to replace part of a $753 million bond issue Kentucky plans to sell by the end of the year.

"Approval of this loan underscores the importance of the Ohio River Bridges Project to our national transportation system," Beshear said in a news release.

Last week, the Kentucky authority in charge of the state's part of the $2.6 billion project  -- a new downtown bridge and a reconfigured Spaghetti Junction interchange -- approved issuing bonds that will require $2.1 billion in tolls from drivers to pay back over the next four decades.

Indiana has already financed a new upriver bridge between Utica, Ind., and Prospect, Ky.

Construction is underway on both segments of the project.

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