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DOT loans $41.55M at low-interest to Oklahoma DOT rural road safety project

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).

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