The Nebraska Department of Roads (NDOR) would administer the bank, which will help provide matching funding to counties for quicker bridge repair work, fund transportation projects that “support industry expansion.” NDOR would be authorized to use design-build processes to speed up the state’s “most expensive and complex” road projects by an estimated two to four years.
The agency currently uses a design-bid-build process that can take seven to 12 years for a new road to be built.
“The infrastructure bank honors Nebraska’s history of prioritizing transportation funding, and continues Nebraska’s pay-as-you-go practice for roads,” Ricketts says. “Targeted investments in our transportation system through prioritized spending will help our state continue to grow. Unlike other states that have relied on debt to build roads, Nebraska budgets for our priorities, and I have been pleased to work with Senator Smith and the Transportation Committee on innovative ideas like the infrastructure bank.”
Up to $150 million would be phased in to the bank through cash reserve transfers to fund three major transportation programs. These include:
Accelerated State Highway Capital Improvement Program
Accelerate capital improvement projects. The intent of this program is to provide the earliest possible mobility, freight, and safety benefits to the state by fast-tracking highway construction projects.
