Sandoval Announces Additional $11.1 Million in Federal Transportation Funding Authority for Southern Nevada
Press Release
Governor Brian Sandoval announced today the Nevada Department of Transportation will receive an additional $11.1 million in additional highway spending authority from the Federal Highway Administration (FHWA). The funds will go to the Nevada Department of Transportation's phase of the Boulder City Bypass, future I-11 Corridor, in place of state funds.
"These funds guarantee that we can begin hiring Nevadans in Clark County to continue improvements and advance critical transportation projects in southern Nevada. This Boulder City Bypass and Future Interstate 11 Corridor will improve the infrastructure to support commerce, decrease commute times for travelers into southern Nevada, and make our roads safer for families. I thank Director Malfabon and the team at the Nevada Department of Transportation for their continued great work and for fulfilling the necessary requirements to receive this additional federal funding," said Governor Brian Sandoval.
"Our priority at NDOT is to provide mobility and traffic safety, and provide it through the most efficient and responsible use of taxpayer funds," NDOT Director Rudy Malfabon explained. "This is a testament to the work of our financial management and other NDOT staff, as well as our partners at local FHWA offices, to make sure that the state continually utilizes all funding available for important transportation projects. We are putting more federal dollars to work here in Nevada," said NDOT Director Rudy Malfabon.
Known as August redistribution, the FHWA annually reassigns transportation funding authority from states unable to utilize the full amount of funding originally authorized to them. The funds are then redistributed to states demonstrating projects which are ready-to-go and meet all federal funding requirements. To qualify, NDOT that it will fully utilize federal transportation funds authorized to Nevada in fiscal year 2014, and demonstrated projects such as the Boulder City Bypass which fit all requirements for receiving additional federal funding redistribution.
In the last decade, NDOT has been able to secure nearly $124 million in additional obligation authority for use on vital Nevada transportation projects. The $11.1 million in funding authorization granted this year is the second highest August redistribution amount Nevada has received in the past decade. Earlier this year, NDOT also announced that Standard & Poor's Ratings Services raised its ratings on Nevada's $441.4 million in highway revenue bonds from AA+ to AAA, the highest possible credit rating.
A collaboration between NDOT and the Regional Transportation Commission of Southern Nevada, the Boulder City Bypass project will further mobility and economic development on the future Interstate 11 corridor through the Boulder City area. Further Boulder City Bypass information is available at www.bouldercitybypass.com.
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