US DOT Says $1.25B Illiana Expressway Eligible For Loan

Law360, New York (March 18, 2014, 6:43 PM EDT) -- The U.S. Department of Transportation gave Illinois and Indiana the green light to seek a low-interest loan for up to a third of the roughly $1.25 billion Illiana Corridor project, a controversial east-west expressway expected to reduce traffic congestion, according to a Monday statement.

The loan would be provided through the Transportation Infrastructure Finance and Innovation Act and could cut the overall project cost by 20 percent, according to a statement. Monday’s go-ahead means that the Illinois Department of Transportation and the Indiana Finance Authority can...
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