Bucking the traditional 33 percent cost coverage of such matters, the United States Department of Transportation (DOT) announced this week that it granted a $41.55 million loan to the Oklahoma Department of Transportation (ODOT) for its Rural Two-Lane Advancement and Management Plan (RAAMP).
These funds represent 49 percent of the $85.97 million in total eligible costs for the RAAMP project, a compilation of eight projects in Oklahoma. It includes nearly 27 miles of eight-foot shoulders and asphalt resurfacing and 6.4 miles of roadway reconstruction – improvements that focus on improving safety. Funding was provided through Transportation Infrastructure Finance and Innovation Act loans (TIFIA loans).
