FRANKFORT, Ky. (AP) - The Ohio River bridges project is ahead of schedule and under budget according to an updated financial report.
The Courier-Journal reports (https://cjky.it/1mCUDPT) the project will cost about $240 million less than previous projections, thanks to efficiencies in design and construction. The savings bring the total cost to about $2.34 billion.
Most of the joint Kentucky-Indiana project could be complete by the end of 2016, months ahead of schedule.
The project consists of two parts. Kentucky is in charge of the “Downtown Crossing,” which includes construction of a new bridge for northbound Interstate 65 traffic, a renovated and reconfigured John F. Kennedy Memorial Bridge for southbound traffic, and improved downtown interchanges in Louisville and Jeffersonville, Ind.
Indiana is in charge of the “East End Crossing,” which includes construction of a new bridge and approaches to connect the Gene Snyder Freeway in Kentucky with the Lee Hamilton Highway in Indiana.
Bridge tolls will be as much as $4 per crossing for passenger vehicles and up to $12 per crossing for semi-trucks.
The bridges will use an all-electronic toll system with no toll plazas. That means vehicles without a pre-paid account will have their license plates photographed and receive a bill in the mail.
Tolls revenue will be divided equally between the two states and be used to finance the bridge construction.
Chuck Wolfe, a spokesman for the Kentucky Transportation Cabinet, said the panel that sets the tolls has the ability to lower rates or forego annual increases if revenue is sufficient to meet the bridge finance agreements.
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Information from: The Courier-Journal, https://www.courier-journal.com
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