Nev. Board OKs $100M Bond Sale For Vegas Highway Project

01.14.2014
Law360

Nossaman was mentioned in the Law360 article "Nev. Board OKs $100M Bond Sale For Vegas Highway Project."  The article reported that the Nevada Department of Transportation's (NDOT) board of directors has approved a $100 million bond sale to buy the right-of-way to expand I-15, as part of Project Neon.  Pending approval from the state Board of Finance, the bonds will go on sale by the end of February.  The project will make capital improvements along a 3.7 mile section of I-15, relieving congestion on the highway and increasing access to downtown Las Vegas.  Nevada's innovative strategy to pursue the project as a P3 has reduced the estimated time to completion from 20 years to five.

The article noted that P3s are becoming a popular way for states to fund infrastructure projects, siting as an example Indiana's first P3 project that included construction of a six-lane toll bridge across the Ohio River connecting Louisville, KY and southern Indiana.

Nossaman was listed as representing NDOT.

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