7/21/10-Gov. John Lynch recently signed into law a new 10-year highway plan. It includes making it a priority to replace the Memorial Bridge, which carries U.S. 1 between Portsmouth and Kittery, ME.
HB2010 includes $45 million in federal GARVEE bonds.
The funding program allows states to borrow money against the annual federal transportation funding designated to pay for construction. The sale is based on the assumption that federal funding in future years would pay off the bonds. This allows states to get money needed up front.
Also included in the plan that runs through 2020 is $30 million in state bridge funds for the U.S. 1 project. Another $20 million in federal grants is also sought by the state to complete the work.
The plan also provides funding for widening of the Spaulding Turnpike north of Dover and Interstate 93 from Salem to Manchester. In addition, it addresses nearly 60 “red list” bridges – led by the Memorial Bridge.
Another project expected to benefit is adding high-speed tolling lanes at the Hampton toll plaza.