The U.S. Department of Transportation (DOT) is providing a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan of up to $26.9 million to the ongoing Louisiana Highway 3241 corridor project in St. Tammany Parish in order to accelerate the mission of improving safety for travelers.
The project, which broke ground in November 2021, includes the construction of 8.2-miles of a four-lane highway from I-12 to Louisiana 21, a 64-foot depressed median and two waterway bridges, a Dec. 22, 2021 DOT press release said.
“This project is critical to the safety of travelers and the economic vitality of the region,” Build America Bureau Executive Director Morteza Farajian said in the release. “The Bureau looks forward to continuing this partnership and working with Louisiana on future opportunities to deliver long-needed improvements.”
The loan is provided by DOT's Build America Bureau under the Rural Projects Initiative, the release said. It is the third of four loans approved in August 2021 to be provided to the Louisiana Department of Transportation and Development.
Deputy DOT Secretary Polly Trottenberg said she is proud to be working with Louisiana on the safety project.
“This is an example of how the Build American Bureau is making innovative financing options, which help deliver important projects more quickly and at lower cost to the taxpayer, available to smaller and rural communities,” Trottenberg said in the release.
The project's final phase, paid for by the infrastructure loan package, is expected to be the I-49 S Ambassador Caffery/US 90 Interchange in Lafayette Parish, scheduled to close in the first quarter of this year, a news release issued by the governor's office in November 2021 said.
“I am thrilled to see this long-awaited project become a reality for all citizens in St. Tammany Parish, especially those in the northeast corridor,” Cooper said in a Nov. 23, 2021 Facebook post. “Once completed, LA 3241 will provide a major connection and economic growth for I-12 to Northeast St. Tammany Parish and all neighbors, businesses and communities in between. I look forward to seeing the progress and completion of LA 3241 and its many benefits to St. Tammany Parish.”
