TDOT unveils $1.5 billion "pay as you go" transportation plan
NASHVILLE, TN (WRCB) – Tennessee Gov. Bill Haslam and Tennessee Department of Transportation (TDOT) Commissioner John Schroer today released the 3 year transportation program, featuring approximately $1.5 billion in infrastructure investments for 96 individual project phases in 55 counties, as well as 10 statewide programs.
TDOT is one of only five state DOT's that does not borrow money to fund projects, and the program continues TDOT's "pay as you go" philosophy, carrying no debt for any transportation initiatives.
"This program balances transportation needs across Tennessee, focusing on improvements to strategic corridors, maximizing economic development opportunities, and providing key safety improvements," said Governor Haslam. "A quality transportation system is vital to our goal of making Tennessee the No. 1 location in the Southeast for high quality jobs and the continued growth of the state's economy."
The 3 year multimodal program funds improvements to the interstate system, including the addition of truck climbing lanes, ramp enhancements, and interchange reconstruction projects.
The program also dedicates funding to projects along strategic corridors such as US 27 in Roane, Morgan and Scott Counties; US 79 in Carroll and Gibson Counties; and the completion of US 64 in middle and west Tennessee.
"We have worked diligently to develop a multimodal program that maximizes the dollars available to Tennessee and provides positive improvements in our urban and rural areas," TDOT Commissioner John Schroer said. "We are also continuing efforts to improve safety, reduce congestion, and provide access to communities."
The program includes a project to increase safety on US 11E (SR 34) with the construction of a new interchange at SR 37. Another project will modify an interchange on I-26 to address congestion issues at SR 75 (Exit 13).
Under the plan, TDOT will fund several projects aimed at stimulating economic development in communities across the state, including US 78 (Lamar Avenue) in Memphis and a new interchange on I-65 at SR 109 in Sumner and Robertson Counties. TDOT will use an innovative approach to accelerate the reconstruction of the interchange at I-40 and SR 222 to facilitate access to the West Tennessee Megasite in Haywood and Fayette Counties.
The program includes dedicated funding for 10 transportation programs including Rockfall Mitigation, Spot Safety Improvement, and the statewide HELP Program. It also provides funding for transit agencies, Metropolitan and Rural Planning Organizations, and private non-profit organizations in all 95 counties in Tennessee. TDOT will also administer funding for rehabilitation projects for shortline railways and bridges in several Tennessee counties as well as programs that provide for improvements at the state's airports.
To view a complete list of projects and programs funded through the 2012-2015 three-year multimodal program visit http://www.tn.gov/tdot/documents/TDOT3yrPlan.pdf