New Department of Transportation infrastructure loan earmarks funds for Cameron Ferry

Cameron Ferry (Source: KPLC)
Cameron Ferry (Source: KPLC)
Published: Nov. 14, 2022 at 9:51 AM CST
Email This Link
Share on Pinterest
Share on LinkedIn

Lake Charles, LA (KPLC) - The U.S. Department of Transportation has announced that its “Build America Bureau” has provided a total of $40.9 million in low-interest loans to the Louisiana State Bond Commission to assist in a new Cameron Parish Ferry project as well as a statewide bridge improvement program.

The Transportation Infrastructure Finance and Innovation Act loans, known as TIFIA loans are for up to 49% of eligible project costs and have a fixed interest rate of half the U.S. Treasury rate.

The two Louisiana projects receiving TIFIA financing are:

  • A $19.2 million loan for the Cameron Parish Ferry Project to provide ferry service between the Calcasieu Ship Channel on LA 27 between Cameron and Holly Beach in Cameron Parish. The scope of the project includes the design and construction of two vehicle/passenger ferries, each capable of carrying at least 35 automobiles and six semi-trucks, and 500 passengers.
  • A $21.7 million loan for the Statewide Bridge Program which consists of six projects, including the replacement of 11 structurally deficient bridges in rural areas across six different parishes throughout central and eastern Louisiana.