ITB OKs $65M GARVEE Bond Authorization
📅 Tue August 29, 2017 - West Edition #18
GARVEE bonds will fund projects on U.S. 95.
The Idaho Transportation Board unanimously approved an additional $65 million in GARVEE (Grant Anticipation Revenue Vehicle) bonds to fund projects on U.S. 95 in northern Idaho. The decision came at the board's Aug. 17 meeting in Coeur d'Alene.
The projects are on U.S. 95 from Garwood Road to Sagle. They include a $41 million project to build a new interchange at Idaho Highway 53 and frontage roads to Garwood Road. The project also removes two at-grade signals and completes improvements from the original U.S. 95 corridor study.
In addition, the board approved a $23 million project to realign and widen an additional 2 mi. of U.S. 95 to four lanes to the top of Granite Hill, including frontage roads and a grade separation to reduce fatal and serious injury crashes.
In addition to funding more GARVEE projects, the board passed a motion directing the Idaho Transportation Department to begin an environmental document to expand Interstate 84 from Karcher Road to Franklin Road in Caldwell, which is estimated to cost approximately $1 million.
In April, the board approved $150 million in GARVEE bonds to widen I-84 from Franklin Blvd. in Nampa to the Karcher Road Interchange. Once complete, the corridor study will pave the way for the state to find funding to continue the I-84 expansion.
With the approval to construct these projects, the transportation board has committed $215 million of the $300 million authorized by the 2017 Idaho Legislature in Senate Bill 1206.