Delaware’s U.S. Route 301 toll road is about to get an infusion of federal cash.
The Department of Transportation signed off on a loan from the Federal Highway Administration that would allow for private credit markets to provide funding for state infrastructure.
The Wilmington News Journal reports that its part of $470 million for construction of an expressway that would run through the Middletown area.
The paper reports that the loan comes on the heels of an announcement that DelDOT has come up with private investors to finance $212.5 million worth of bonds.
The bonds will be repaid with money from the tolls collected along the new 13-mile highway that will run from the Maryland boarder to Delaware Route 1 below the Chesapeake and Delaware Canal.
