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2009 Annual report NCTA: Mid-Currituck Bridge

The Mid-Currituck Bridge project is a proposed toll facility connecting the Currituck County mainland with the Outer Banks. To ensure that the project is financed and constructed, the Turnpike Authority is pursing the project as a public-private partnership.  In April 2009, the Turnpike Authority entered into the State’s first public-private pre-development agreement (PDA) for a major transportation project. The Currituck Development Group LLC, whose lead partners include ACS Infrastructure Development Inc.; Dragados USA Inc.; and Lochner-MMM Group, will work with the Turnpike Authority on the development, design and financial assessment of the Mid-Currituck Bridge toll project on the Outer Banks.  The PDA is a collaborative enterprise that combines the developer’s innovation, private sector resources and financial expertise with the Turnpike Authority’s governmental authority and planning capabilities to bring the project to fruition. The partnership also reduces risk to the state. Since the beginning of the PDA process in April, a substantial amount of work has been completed. As part of this effort, a construction cost-saving opportunity has been identified for further study with a potential capital cost savings of $60 million.

Development of the EIS is advancing and expected to be issued in early 2010. Following the approval of the Draft EIS, the public and environmental agencies will have an opportunity to review the document and provide comments.  The project is currently undergoing an Investment Grade Traffic and Revenue Study that will aid in developing the project’s Plan of Finance. The Turnpike Authority and its consultants are gathering data during peak and off-peak travel times and interviewing residents and vacationers on their willingness to pay a toll in various circumstances.  “Public-private partnerships are an entirely new project delivery strategy for North Carolina, and we are working alongside the Currituck Development Group to make the Mid-Currituck Bridge a reality.”
— David Joyner

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