The East End Bridge over the Ohio River between Indiana and Kentucky will be the first test of how USDOT responds to a loan request post-MAP-21. Under former Gov. Mitch Daniel’s watch, every deadline has been met so far, and a financial close for the $1.3-billion project is scheduled in late March using TIFIA for part of the debt.
Commercial close on the availability-pay project was reached on Dec. 27, 2012. A newly formed American P3 developer, Walsh Investors, is leading the P3 team that was selected to arrange the financing and develop the DBFOM project. Walsh Construction, based in Chicago, won with a $763-million bid that was 23% below the state’s estimate. Walsh will also lead the design-build joint venture for the bridge and approaches.